Latest Federal Reserve System News
Biden inherits damaged economy, with signs of hope emerging
WASHINGTON (AP) — President Joe Biden has inherited a badly damaged economy pulverized by the pandemic, with 10 million fewer jobs than a year ago and as many as one in 6 small businesses shut down. Yet there are also signs of resilience and recovery that suggest the prospect of a rebound, perhaps a robust...
Japan shares fall on pandemic worries as rest of Asia rises
TOKYO (AP) — Asian shares were mostly higher Wednesday, ahead of Joe Biden's inauguration as U.S. president. Japan's benchmark lost early gains as worries grew about the surge in coronavirus cases. Japan's benchmark Nikkei 225 lost early gains to slip 0.4% in morning trading to 28,515.21. Australia's...
Yellen pushes GOP senators on $1.9 trillion relief package
WASHINGTON (AP) — Janet Yellen, President-elect Joe Biden's choice as Treasury secretary, said Tuesday that the incoming administration would focus on winning quick passage of its $1.9 trillion pandemic relief plan, rejecting Republican arguments that the measure is too big given the size of U.S. budget...
The Latest: China reports a few new cases of COVID-19
BEIJING — China on Sunday reported 109 new confirmed COVID-19 cases, two-thirds of them in a northern province that abuts Beijing, and no deaths. There were 72 new cases in Hebei province, where the government is building isolation hospitals with a total of 9,500 rooms to combat an upsurge in infections,...
The Latest: Mexico hits another record for COVID-19 cases
Mexico posted a record spike in coronavirus cases on Friday, with 21,366 newly confirmed infections, about double the daily rate of increase just a week ago. The country also recorded 1,106 more deaths. It was unclear if the spike was due to the presence of the U.K. virus variant, of which only one case has so...
Oregon governor: Vaccination plans have to be scaled back
PORTLAND, Ore. (AP) — Gov. Kate Brown said Friday that plans to vaccinate Oregon residents over 65 starting next week would have to be delayed and scaled back substantially as she accused the Trump administration of backtracking on a promise of more than 100,000 additional doses of the COVID-19 vaccine...
December wholesale prices up 0.3% with sharp jump in energy
WASHINGTON (AP) — U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November and...
Asian shares mixed following Biden speech, Wall St retreat
Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...
Powell signals Fed will keep aiding economy with bond buying
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance. During an online discussion hosted by Princeton University, from...
Asian shares mixed after lackluster day on Wall Street
Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. U.S. futures were trading slightly higher after the U.S. House of...
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