Latest Central bank interest rates News

EXPLAINER: Why are fears of high inflation getting worse?

May. 12, 2021 12:14 PM EDT

WASHINGTON (AP) — Gas prices are rising. Auto prices are soaring. Consumer goods companies are charging more for household basics like toilet paper, peanut butter and soft drinks. All of which is resurrecting fears of an economic threat that has all but disappeared over...

Top Fed official says Fed far from achieving its goals

May. 11, 2021 14:18 PM EDT

WASHINGTON (AP) — A top Federal Reserve official says the outlook for the U.S. economy is bright but the recent jobs report is a reminder that the path of the recovery is likely to be uneven and difficult to predict. Lael Brainard, a member of the Fed's board, said...

Stocks rally to records after grim jobs data undercuts rates

May. 07, 2021 16:51 PM EDT

Stocks rallied to more records on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will likely stay low. The S&P 500 rose 0.7%, topping the previous all-time high set last month. The Dow Jones...

Yellen clarifies she is not predicting Fed rate increases

May. 04, 2021 18:44 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen said Tuesday that she is not predicting when the Federal Reserve may need to start raising interest rates. She was seeking to clarify her earlier remarks that rattled financial markets. Yellen...

Yellen: Biden's phased-in spending plan won't fuel inflation

May. 02, 2021 18:21 PM EDT

WASHINGTON (AP) — President Joe Biden’s massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have...

Powell's high-stakes bet: More jobs but only mild inflation

May. 01, 2021 11:14 AM EDT

WASHINGTON (AP) — With employers hiring, consumers spending and companies raising some prices, Federal Reserve Chair Jerome Powell is embarking on a high-stakes gamble. Powell's bet is that the Fed can keep rates ultra-low even as the U.S. economic recovery kicks into...

Big Tech stocks flex muscles again after a rough winter

Apr. 30, 2021 17:12 PM EDT

NEW YORK (AP) — Big Tech stocks are flexing their enormous strength again, after getting knocked around a bit earlier this year. Apple, Microsoft, Amazon, Google's parent company and Facebook all gave profit reports this week that blew past investors' already high...

Asian shares, US futures advance after Biden speech

Apr. 29, 2021 00:12 AM EDT

Asian shares rose Thursday and U.S. futures also were higher after President Joe Biden delivered a speech to Congress that outlined ambitious plans for jobs creating spending on early education, child care and other public services. Shares rose in Hong Kong, Shanghai,...

Fed keeps key rate near zero, sees inflation as 'transitory'

Apr. 28, 2021 16:53 PM EDT

WASHINGTON (AP) — The U.S. economy is quickly strengthening, inflation is showing signs of picking up and the nation is making progress toward defeating the viral pandemic. But on Wednesday, Chair Jerome Powell made clear that the Federal Reserve isn't even close to...

How major US stock indexes fared Wednesday

Apr. 28, 2021 16:32 PM EDT

Major U.S. stock indexes ended slightly lower on Wall Street Wednesday after the Federal Reserve left its key interest rate unchanged near zero, even as it noted recent improvement in the economy. The S&P 500 ended down just 0.1% after some earlier gains evaporated....