Latest Economic outlook News

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October.(AP Photo/Ahn Young-joon)

Asian shares drop after US stocks' worst day since October

Jan. 27, 2021 9:59 PM EST

TOKYO (AP) — Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. Benchmarks in Japan, South Korea, Australia and China declined Thursday. The region is looking ahead to earnings season for a...

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)

Fed stresses its commitment to low rates as economy stumbles

Jan. 27, 2021 6:28 PM EST

WASHINGTON (AP) — Chair Jerome Powell said Wednesday that the Federal Reserve will keep pursuing its low-interest rate policies until an economic recovery is well underway, acknowledging that the economy has faltered in recent months. The Fed said in a statement after its latest policy meeting that hiring...

Text of the Federal Reserve's statement after its meeting

Jan. 27, 2021 2:21 PM EST

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19...

German Economy Minister Peter Altmaier presents the annual Economic Report 2021 at the federal press Ccnference in Berlin, Germany, Wednesday, Jan 27, 2021. The German government has revised its growth forecast for this year down to 3% as Europe’s biggest economy faces persistent headwinds from the coronavirus pandemic. (Kay Nietfeld/dpa via AP)

German government cuts 2021 economic growth forecast to 3%

Jan. 27, 2021 9:31 AM EST

BERLIN (AP) — The German government on Wednesday cut its growth forecast for this year to 3% as Europe's biggest economy faces persistent headwinds from the coronavirus pandemic. In late October, the government had forecast growth of 4.4% this year. The country started a partial shutdown shortly afterward...

A woman cycles past by an electronic stock board of a securities firm in Tokyo, Wednesday, Jan. 27, 2021. Stocks were mixed in Asia on Wednesday after a lackluster session on Wall Street. (AP Photo/Koji Sasahara)

Asian shares mixed following lackluster day on Wall Street

Jan. 26, 2021 11:59 PM EST

Asian stocks were mixed on Wednesday after a lackluster session on Wall Street. Benchmarks logged moderate gains in Hong Kong and Tokyo, but were flat in Sydney and Shanghai. Australian shares declined. Markets have meandered since last week as investors weighed solid corporate earnings results against renewed...

Women carry shopping bags, Thursday, Dec. 10, 2020, in New York. The spread of COVID-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund forecast Tuesday, Jan. 26, 2021. (AP Photo/Mark Lennihan)

IMF: Vaccines will power 5.5% global economic growth in 2021

Jan. 26, 2021 9:11 AM EST

WASHINGTON (AP) — The spread of COVID-19 vaccines will power a stronger global economic recovery in 2021, the International Monetary Fund forecast Tuesday. After sinking 3.5% in 2020, the worst year since World War II, the global economy will grow 5.5% this year, the 190-country lending organization...

Federal Reserve Chairman Jerome Powell testifies before a House Financial Services Committee hearing on Capitol Hill in Washington, Wednesday, Dec. 2, 2020. (Greg Nash/Pool via AP)

Fed will likely stress commitment to low rates amid pandemic

Jan. 25, 2021 11:59 AM EST

WASHINGTON (AP) — The Federal Reserve this week will likely underscore its commitment to its low-interest rate policies, even as the economy recovers further from the devastation of the viral pandemic. Chair Jerome Powell is sure to strike a dovish tone at a news conference after the Fed's latest policy...

In this photo provided by the New York Stock Exchange, traders work on the floor during the United Wholesale Mortgage IPO, Friday, Jan. 22, 2021. Wall Street is tapping the brakes on its record-setting rally this week, as markets worldwide take a pause on Friday. (Courtney Crow/New York Stock Exchange via AP)

Mixed finish on Wall Street as worldwide rally takes a pause

Jan. 22, 2021 4:51 PM EST

Wall Street tapped the brakes on its recent record-setting rally Friday with a mixed finish for the major stock indexes, though the S&P 500 still ended the week with its third weekly gain in four. The benchmark index fell 0.3%, snapping a three-day winning streak, but notched a 1.9% gain for the week. The...

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Existing home sales rise in 2020 to highest in 14 years

Jan. 22, 2021 12:05 PM EST

WASHINGTON (AP) — Sales of existing homes rose 0.7% in December, pushing the entirety of 2020 to a pace not seen in 14 years and providing one of the few bright spots for a U.S. economy mired in a global pandemic. Rising sales in the final month of the year lifted activity to a seasonally adjusted annual...

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 22, 2021. Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. (AP Photo/Lee Jin-man)

Asian stocks sink after China coronavirus resurgence

Jan. 21, 2021 11:28 PM EST

BEIJING (AP) — Asian stock markets retreated Friday after a resurgence of coronavirus infections in China and a rise in cases in Southeast Asia. Shanghai, Hong Kong, Tokyo and Australia declined. South Korea advanced. Overnight, Wall Street closed higher. Gains for tech stocks offset losses elsewhere....