Latest Central banking News

US mortgage rates fall for 4th week; 30-year dips to 2.94%

May. 13, 2021 17:41 PM EDT

WASHINGTON (AP) — Mortgage rates declined this week, marking their fourth consecutive week below 3% and further evidence of the strength in the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac reported Thursday that the average for the...

Stocks open higher on Wall Street as Big Tech regains ground

May. 13, 2021 09:48 AM EDT

Stocks are opening higher on Wall Street following three days of losses and the biggest one-day drop in the S&P 500 since February. Big Tech companies like Apple and Microsoft, which had posted some of the bigger losses this week, were rising in the early going Thursday. the S&P 500...

Asian stocks mixed after Wall St falls on inflation fears

May. 12, 2021 00:23 AM EDT

BEIJING (AP) — Asian stock markets retreated Wednesday as investors looked ahead to U.S. data they worry will show inflation is picking up. Shanghai, Tokyo and Southeast Asian markets declined. Hong Kong advanced. Overnight, Wall Street's benchmark...

Top Fed official says Fed far from achieving its goals

May. 11, 2021 14:18 PM EDT

WASHINGTON (AP) — A top Federal Reserve official says the outlook for the U.S. economy is bright but the recent jobs report is a reminder that the path of the recovery is likely to be uneven and difficult to predict. Lael Brainard, a member of the Fed's board, said...

Stocks rally to records after grim jobs data undercuts rates

May. 07, 2021 16:51 PM EDT

Stocks rallied to more records on Wall Street Friday as a stunningly disappointing report on the nation's job market signaled to investors that interest rates will likely stay low. The S&P 500 rose 0.7%, topping the previous all-time high set last month. The Dow Jones...

Yellen picks top Fed banking regulator as acting comptroller

May. 07, 2021 13:32 PM EDT

WASHINGTON (AP) — Michael J. Hsu, a top banking regulator at the Federal Reserve, was appointed by Treasury Secretary Janet Yellen on Friday as acting U.S. Comptroller of the Currency. Yellen said that she planned to designate Hsu as first deputy comptroller, which...

Fed warns high asset prices could make investors vulnerable

May. 06, 2021 17:41 PM EDT

WASHINGTON (AP) — The Federal Reserve is warning that prices of stocks and other financial assets are rising to levels that could set investors up for big losses from sudden declines. A Fed report released Thursday noted that stocks and other risky assets have risen in...

Yellen clarifies she is not predicting Fed rate increases

May. 04, 2021 18:44 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen said Tuesday that she is not predicting when the Federal Reserve may need to start raising interest rates. She was seeking to clarify her earlier remarks that rattled financial markets. Yellen...

Powell sees need to help most vulnerable in uneven recovery

May. 03, 2021 15:56 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the economic outlook has “clearly brightened” in the United States but the recovery remains too uneven with lower income groups lagging behind. In a speech Monday, Powell cited a number of reasons that...

Yellen: Biden's phased-in spending plan won't fuel inflation

May. 02, 2021 18:21 PM EDT

WASHINGTON (AP) — President Joe Biden’s massive proposed spending on infrastructure, families and education will not fuel inflation because the plans would be phased in gradually over 10 years, Treasury Secretary Janet Yellen said Sunday. New economic reports have...