Latest Federal Reserve System News

Stocks surge, recovering some recent losses; Dow climbs 547

Oct. 16, 2018 5:23 PM EDT

NEW YORK (AP) — U.S. stocks rocketed to their biggest gain in six months Tuesday following strong earnings from major financial and health care companies as well as encouraging reports on the economy. The Dow Jones Industrial Average jumped 547 points. Morgan Stanley, Goldman Sachs and UnitedHealth led a...

Business Highlights

Oct. 16, 2018 5:13 PM EDT

___ Stocks surge, recovering some recent losses; Dow climbs 547 NEW YORK (AP) — U.S. stocks rocketed to their biggest gain in six months Tuesday following strong earnings from major financial and health care companies as well as encouraging reports on the economy. The Dow Jones Industrial Average jumped...

Trump escalates his attack on Fed: 'My biggest threat'

Oct. 16, 2018 5:07 PM EDT

WASHINGTON (AP) — President Donald Trump is calling the Federal Reserve "my biggest threat" because he thinks it's raising interest rates too quickly. Trump says he doesn't speak with Chairman Jerome Powell because of the Fed's independence, but "I'm not happy with what he's doing because it's going too...

Trump criticizes Fed for raising interest rates too quickly

Oct. 16, 2018 4:38 PM EDT

WASHINGTON (AP) — President Donald Trump is criticizing the Federal Reserve for raising interest rates too quickly. The recent increase in interest rates has spooked investors who fear higher borrowing costs could slow down the economy. Trump has blamed the market's big sell-off on rising rates and has...

US industrial production climbed 0.3 percent in September

Oct. 16, 2018 9:33 AM EDT

WASHINGTON (AP) — U.S. industry expanded again in September despite the impact of Hurricane Florence. The Federal Reserve said Tuesday that industrial production, which includes output at factories, mines and utilities, rose 0.3 percent last month. It was the fourth straight increase. The Fed said that...

Tech stock rally helps snap losing streak as rough week ends

Oct. 12, 2018 4:43 PM EDT

NEW YORK (AP) — Stocks rebounded Friday, clawing back some of the week's steep losses, but the turbulent trading of the last few days left no doubt that the relative calm the markets enjoyed all summer had been shattered. Major U.S. indexes ended the week down about 4 percent, their worst weekly loss in...

Mnuchin says Trump respects the independence of the Fed

Oct. 12, 2018 11:48 AM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Friday that President Donald Trump respects the independence of the Federal Reserve and the president's recent comments were simply a reflection of the fact that he favors low interest rates. "The president has been clear," Mnuchin said in an...

Asian markets mixed on strong Chinese trade data

Oct. 11, 2018 11:57 PM EDT

SINGAPORE (AP) — Asian stocks were mixed on Friday as better-than-expected Chinese trade data gave some markets a breather from worries about the impact of punitive tariffs. KEEPING SCORE: Japan's benchmark Nikkei 225 racked up more losses after falling almost 4 percent in the previous day. The index...

Higher rates: Sign of economic strength or a risk? Try both

Oct. 11, 2018 5:03 PM EDT

WASHINGTON (AP) — This week's dizzying sell-offs in the financial markets have been a rude reminder that the U.S. economy is no longer relying on ultra-low interest rates to fuel growth. Borrowing costs are rising for companies, homebuyers and the U.S. government — all of which could eventually...

Trump steps up his attacks on Federal Reserve's rate hikes

Oct. 11, 2018 4:05 PM EDT

WASHINGTON (AP) — President Donald Trump on Thursday escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices. "It's a correction that I think is caused by the Federal Reserve with interest...