Latest Federal Reserve System News

Consumer confidence declines again in May, 4th time in 5 months, particularly for older Americans

May. 30, 2023 12:44 PM EDT

Consumer confidence fell in May as Americans, particularly older ones, became more pessimistic about the labor market, on top of elevated anxiety over inflation. The Conference Board reported Tuesday that its consumer confidence index fell to 102.3 in May from 103.7 in April. It’s...

Stock market today: Tech leads more gains on Wall Street

May. 26, 2023 20:51 PM EDT

NEW YORK (AP) — Technology stocks powered solid gains for Wall Street on Friday after another chipmaker reported strong demand related to artificial intelligence. The upbeat finish to the week for major indexes comes amid lingering anxiety over persistently high inflation, the risk...

South Dakota governor asks college board to ban drag shows, opens hotline

May. 26, 2023 17:30 PM EDT

PIERRE, S.D. (AP) — Republican Gov. Kristi Noem opened a hotline for complaints about South Dakota colleges and is calling on the state's higher education governing board to ban drag shows, she announced Friday. In a letter to the South Dakota Board of Regents, Noem said states...

A measure of inflation that is closely tracked by the Federal Reserve increased in April

May. 26, 2023 10:45 AM EDT

WASHINGTON (AP) — A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April. That was...

An inflation gauge closely tracked by the Federal Reserve shows price pressures ticked up in April

May. 26, 2023 08:33 AM EDT
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve shows price pressures ticked up in April.

More Americans apply for jobless benefits but labor market remains tight

May. 25, 2023 11:31 AM EDT

U.S. applications for jobless claims rose slightly last week but remain at healthy levels with companies reticent to let go of employees in a tight labor market. The number of Americans filing for jobless claims for the week ending May 20 rose by 4,000 to 229,000 from 225,000 the...

US economic growth for last quarter is revised up to a still-tepid 1.3% annual rate

May. 25, 2023 09:41 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said Thursday in a slight upgrade from its initial estimate. The government had previously...

A June pause in rate hikes would be a close call for Fed officials, minutes of last meeting show

May. 24, 2023 15:31 PM EDT

WASHINGTON (AP) — Federal Reserve officials were divided earlier this month on whether to pause their interest rate hikes at their upcoming meeting in June, according to the minutes of their May 2-3 meeting released Wednesday. “Several (policymakers) noted if the economy evolved...

New Zealand's central bank raises key interest rate to 5.5% but signals next move will be a cut

May. 24, 2023 01:23 AM EDT

WELLINGTON, New Zealand (AP) — New Zealand's central bank raised its benchmark interest rate again Wednesday to 5.5% but signaled its next move would be a cut, sparking a sell-off in the currency. Wednesday's quarter-point rate rise was the 12th straight hike imposed by the Reserve...

This Week in Business: housing market and inflation updates, Federal Reserve insight

May. 22, 2023 03:11 AM EDT

Housing market update The Commerce Department delivers data on April newly constructed home sales Tuesday. Economists forecast that sales slowed last month to a seasonally adjusted annual rate of 650,000 homes from 683,000 in March. The housing market has cooled since...