Latest Jerome Powell News

With Trump trade war a threat, Fed is set to cut rates again

Sep. 16, 2019 12:38 PM EDT

WASHINGTON (AP) — For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump's trade war with China. After that, no one — not even the Fed itself — seems sure what...

Senate approves Trump nominee Bowman for Federal Reserve

Sep. 12, 2019 4:30 PM EDT

WASHINGTON (AP) — The Senate on Thursday confirmed President Donald Trump's nominee Michelle Bowman to serve a full 14-year term on the seven-member Federal Reserve board. Bowman was approved on a 60-31 vote, winning the support of 49 Republicans and 11 Democrats. Only one Republican, Sen. Rand Paul of...

As 9/11 dawns, Trump blasts Fed members as 'boneheads'

Sep. 11, 2019 7:30 AM EDT

WASHINGTON (AP) — President Donald Trump says the U.S. is missing out economically because "Boneheads" at the Federal Reserve won't lower interest rates at his insistence. The Fed is meeting next week and is expected to trim its benchmark rate by another quarter point after cutting the rate for the first...

Global shares mixed as investors look to rate decisions

Sep. 10, 2019 7:43 AM EDT

TOKYO (AP) — Global shares were mixed Tuesday as investors awaited action from global central banks amid concern that U.S-China trade war is hurting economic growth. Asian markets finished mostly higher, European shares were mostly down and Wall Street appeared headed for a lower or flat open. Investors...

Asian shares mixed as investors look ahead to rate decisions

Sep. 9, 2019 11:57 PM EDT

TOKYO (AP) — Asian shares were mixed Tuesday after a day of listless trading on Wall Street, as investors awaited signs on global interest rates. Japan's benchmark Nikkei 225 added 0.2% to 21,360.15 in morning trading. Australia's S&P/ASX 200 fell 0.5% to 6,618.20, while South Korea's Kospi inched up...

Global stocks mostly rise as investors watch central banks

Sep. 9, 2019 8:10 AM EDT

TOKYO (AP) — Global stocks mostly rose Monday as investors digested economic data and hoped for central banks to step in to nudge up growth. Germany's DAX was up 0.3% to 12,224, while France's CAC 40 fell 0.2% to 5,595 and Britain's FTSE 100 shed 0.6% to 7,238. U.S. shares were set to drift higher, with...

Asian shares mostly rise as market players weigh mix of data

Sep. 9, 2019 12:17 AM EDT

TOKYO (AP) — Asian shares were mostly higher Monday as the week started with a mix of economic data for the region and the U.S. Japan's benchmark Nikkei 225 rose 0.5% in early trading to 21,294.14. Australia's S&P/ASX 200 edged up nearly 0.1% to 6,652.20. South Korea's Kospi gained 0.6% to 2,022.03....

Fed Chairman Powell says he doesn't expect recession

Sep. 6, 2019 5:44 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Friday that the Fed is not expecting a U.S. or global recession. But it is monitoring a number of uncertainties, including trade conflicts, and will "act as appropriate to sustain the expansion." Powell gave an upbeat view of the U.S. economy...

Analysis: Storm spat underscores Mr. Never Wrong's mindset

Sep. 6, 2019 5:15 PM EDT

NEW YORK (AP) — President Donald Trump doesn't make mistakes. At least according to him. Trump's relentless justifications of his erroneous warnings that Hurricane Dorian was threatening Alabama on Sunday, which created days of ridicule and skepticism, are just the latest example of the president's...

Modest hiring enough to fuel sluggish but durable US economy

Sep. 6, 2019 5:09 PM EDT

WASHINGTON (AP) — Hiring by U.S. employers was slower but steady in August, and hourly pay jumped — trends that should sustain the U.S. economy's record-long expansion in the coming months. Yet with the economy still under threat from a weak global economy and President Donald Trump's trade war with...