Latest Federal Reserve System News
US stocks lose ground a day after Dow entered a bear market
Stocks gave up early gains and turned lower in afternoon trading on Wall Street Tuesday as markets stagger amid recession worries. The volatile trading comes a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market, joining other major U.S. indexes. ...
Fed's Powell urges broader regulation for stablecoins
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers. Powell also said, in virtual remarks to a conference on digital finance in Paris, that the Fed hasn't yet decided on...
Asian shares mixed after Dow falls into bear market
Stocks were mixed in Asia on Tuesday after closing broadly lower on Wall Street, where the Dow Jones Industrial Average fell into what’s known as a bear market. Tokyo, Sydney and Shanghai advanced while Hong Kong and Seoul declined. U.S. futures rose and oil prices also were...
Fed officials call for more rate hikes to fight inflation
WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday. Susan Collins, the new president of the Federal...
Dow sinks to 2022 low as recession fears roil world markets
Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P...
Asian stocks slide for 3rd day on economic growth fears
BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. Shanghai, Hong Kong, Seoul and Sydney declined. Oil prices edged lower....
Average US long-term mortgage rates climb to 6.29% this week
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy. Mortgage buyer Freddie Mac reported...
Powell's stark message: Inflation fight may cause recession
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many...
Rare bear market in bonds strips investors of safe haven
NEW YORK (AP) — A rare bear market in bonds hasn't gotten much attention, but it may be inflicting more pain on investors than the downturns for stocks, cryptocurrencies and other investments. Investment-grade bonds — those issued by governments and corporations with good credit...
Bank of England raises rates but avoids bolder hike like Fed
LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. ...
