Latest Jerome Powell News

Dow's recovery helps shore up markets around the world

Dec. 7, 2018 7:59 AM EST

LONDON (AP) — Shares rebounded in Europe and Asia on Friday as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing. Attention was turning toward upcoming U.S. jobs data. KEEPING SCORE: In Europe, stock markets made up around half of Thursday's losses in morning trading....

Asian shares rise on Wall Street gains amid trade friction

Dec. 6, 2018 10:42 PM EST

TOKYO (AP) — Asian shares were mostly higher Friday after gains on Wall Street but investors continued to watch for news about U.S.-China trade friction. KEEPING SCORE: Japan's benchmark Nikkei 225 added 0.1 percent to 21,524.02, and Australia's S&P/ASX 200 gained 0.5 percent to 5,685.50 in early...

Fed chairman says central bank concerned about rural poverty

Dec. 6, 2018 7:04 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the U.S. economy overall is strong but many rural areas are falling farther behind. Powell says unemployment in the poorest rural counties is more than double the national average last year, while those employed or looking for jobs in their...

Asian stocks slip on worries over US-China tariffs truce

Dec. 3, 2018 10:46 PM EST

SINGAPORE (AP) — Asian shares were mostly lower Tuesday as investors questioned if a 90-day truce in a tariffs battle will allow the U.S. and China to resolve a range of issues from technology development to trade. KEEPING SCORE: Japan's Nikkei 225 index shed 1.0 percent to 22,356.80 and the Kospi in South...

Fed Chairman Powell says economic challenges remain

Dec. 3, 2018 8:42 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Monday that despite solid economic progress, the country still faces a number of challenges ranging from slow wage-growth for lower-income workers to sluggish productivity and an aging population. Powell said in remarks at a Fed award ceremony...

US-China trade truce seen boosting US stock market

Dec. 3, 2018 5:27 AM EST

WASHINGTON (AP) — The truce in the trade dispute between the U.S. and China should boost rattled financial markets, at least through the year's end, experts say. But the stock market's recent wild gyrations likely will persist as the two countries strain to reach a permanent accord. "The all-clear sign...

US-China trade truce seen boosting US stock market

Dec. 3, 2018 4:39 AM EST

WASHINGTON (AP) — The truce in the trade dispute between the U.S. and China should boost rattled financial markets, at least likely through year's end, experts say. But the stock market's wild gyrations of recent months likely will persist as the two countries strain to reach a permanent accord. "The...

World shares drift lower ahead of Trump-Xi meeting at G-20

Nov. 30, 2018 7:23 AM EST

LONDON (AP) — Global stock markets drifted lower Friday ahead of a meeting between Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: In Europe, Germany's DAX fell 0.6 percent to 11,233 while France's CAC40 was down 0.5 percent at 4,981. Britain's FTSE 100 was 0.7...

Asia shares mixed ahead of Trump-Xi meeting at G-20 summit

Nov. 30, 2018 12:07 AM EST

BANGKOK (AP) — Share prices were mixed Friday in Asia ahead of the planned meeting by Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: Japan's Nikkei 225 index climbed 0.4 percent to 22,348.56 and the Hang Seng in Hong Kong added 0.7 percent to 26,633.88. The...

Fed officials express caution about pace of future hikes

Nov. 29, 2018 5:01 PM EST

WASHINGTON (AP) — Federal Reserve officials earlier this month appeared on track to raise its key interest rate again in December, but they signaled that the pace of future rate hikes might need to slow given emerging risks to the economy, according to minutes of the discussions released Thursday. The...