Latest Federal Reserve System News

Trump economic adviser dismisses fears of looming recession

Aug. 18, 2019 3:04 PM EDT

BERKELEY HEIGHTS, N.J. (AP) — President Donald Trump's top economic adviser is playing down fears of a looming recession after last week's sharp drop in the financial markets and predicting the economy will perform well in the second half of 2019. Larry Kudlow said in Sunday television interviews that...

Signs of recession worry Trump ahead of 2020

Aug. 17, 2019 6:29 AM EDT

WASHINGTON (AP) — President Donald Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation's strong growth and low unemployment rate. But privately, Trump is growing increasingly worried the economy won't look...

Weak global growth likely to mean US slowdown, not recession

Aug. 15, 2019 8:07 PM EDT

WASHINGTON (AP) — How fragile is the global economy? The U.S.-China trade war is weakening businesses in both countries, Germany's economy shrank in the second quarter, and Britain appears headed for a disruptive exit from the European Union this fall. Those trends have hammered American manufacturers and...

Asian stocks lower after US indexes tumble on recession fear

Aug. 15, 2019 12:35 AM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Dow Jones Industrial Average plunged on mounting fears of a possible recession. Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated. U.S. investors dumped stocks, sending the Dow into its biggest one-day drop...

On the Money: Fed's rate cuts strike savers' pocketbooks

Aug. 14, 2019 9:02 AM EDT

NEW YORK (AP) — Just when bank customers were finally getting something reasonable for their hard-earned savings, the party is coming to an end. After several years of increasing the meager interest they paid on savings accounts and certificates of deposit, banks are starting to trim their offerings to...

AP FACT CHECK: Trump's made-up claims on shootings, tariffs

Aug. 12, 2019 12:23 AM EDT

WASHINGTON (AP) — Playing defense, President Donald Trump made up facts in the aftermath of two mass shootings and as U.S. businesses braced for a potentially devastating trade war with China. Trump distorted science in seeking to assign blame on video games for the deadly shootings in Texas and Ohio,...

AP FACT CHECK: Trump's fiction on gun violence, economy

Aug. 10, 2019 7:20 AM EDT

WASHINGTON (AP) — It was a week of exaggeration and outright fiction for President Donald Trump as he confronted the aftermath of two mass shootings in Texas and Ohio. Trump twisted science in seeking to assign blame on video games for the shootings, rather than on his own words that critics say...

US wholesale prices rise just 0.2% in July

Aug. 9, 2019 8:39 AM EDT

WASHINGTON (AP) — U.S. wholesale prices ticked up just 0.2% in July, the latest sign that inflationary pressures are largely in check. The Labor Department said Friday that the producer price index — which measures price changes before they reach the consumer — increased 1.7% last month...

Trump calls on Fed to make 'substantial' rate cuts

Aug. 8, 2019 6:33 PM EDT

WASHINGTON (AP) — President Donald Trump is not letting up on his attacks on the Federal Reserve, calling for "substantial" Fed rate cuts to allow the dollar to fall in value against foreign currencies. In a series of tweets Thursday, Trump said, "As your president, one would think that I would be thrilled...

US long-term mortgage rates fall sharply: 30-year at 3.60%

Aug. 8, 2019 1:51 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates fell sharply this week, with the benchmark 30-year loan touching its lowest level since November 2016. Financial markets around the globe have been whipsawed by anxiety over the U.S.-China trade war, sending investors fleeing from stocks to the safety of...