Latest Federal Reserve System News

Fed leaders agree: Economics has a racial-disparity problem

Apr. 13, 2021 18:28 PM EDT

WASHINGTON (AP) — Top Federal Reserve policymakers on Tuesday underscored their concern that Black and Hispanic people are sharply underrepresented in the economics field, which lessens the perspectives that economists can bring to key policy issues. “If we don’t...

Consumer prices jump 0.6% in March, biggest gain since 2012

Apr. 13, 2021 10:12 AM EDT

WASHINGTON (AP) — U.S. consumer prices increased a sharp 0.6% in March, the biggest uptick since 2012, while inflation over the past year jumped 2.6%. The big gains had been anticipated and are largely expected to be a temporary blip rather than a reawakening of long dormant inflation. ...

Fed's Powell sees US boom ahead, with COVID still a risk

Apr. 11, 2021 20:00 PM EDT

WASHINGTON (AP) — The U.S. economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve said in an interview broadcast Sunday, though the coronavirus still poses some risk. Chair Jerome Powell, speaking to CBS' “60 Minutes,"...

Wholesale prices up 1% in March, energy leads the way again

Apr. 09, 2021 09:42 AM EDT

SILVER SPRING, Md. (AP) — Wholesale prices jumped again in March pushed by another big increase in energy prices, the government reported Friday. The Labor Department’s producer price index, which measures inflation before it reaches consumers, rose 1% in March,...

Fed's Powell: US nears full reopening to 'different economy'

Apr. 08, 2021 15:21 PM EDT

WASHINGTON (AP) — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. ...

Fed in March saw brighter outlook, yet underscored patience

Apr. 07, 2021 16:52 PM EDT

WASHINGTON (AP) — Federal Reserve officials were encouraged last month by evidence the U.S. economy was picking up, but they showed no sign of moving closer to ending their bond purchases or lifting their benchmark short-term interest rate from nearly zero. Fed...

Yellen says regulatory panel to look at 2020 market turmoil

Mar. 31, 2021 18:33 PM EDT

WASHINGTON (AP) — Last year’s coronavirus-triggered market turmoil exposed vulnerable areas in the U.S. economy that need to be addressed by the nation's top-level financial supervisory group, Treasury Secretary Janet Yellen said Wednesday. Yellen told members of the...

S&P 500 returns to a record high after best day in weeks

Mar. 26, 2021 16:39 PM EDT

NEW YORK (AP) — U.S. stocks burst to their best day in three weeks on Friday, helping Wall Street return to record heights and avoid what could have been a second straight weekly loss. The S&P 500 added 65.02 points, or 1.7%, to 3,974.54, with a quarter of that rise...

Fed says restrictions on bank dividends and buybacks to end

Mar. 25, 2021 19:14 PM EDT

WASHINGTON (AP) — The Federal Reserve said Thursday that as of June 30 it will end for most banks the temporary limits it had imposed on their ability to make dividend payments and buy back their own stock. The Fed imposed the restrictions last summer, citing the need...

Powell likens Fed's pandemic response to British at Dunkirk

Mar. 25, 2021 11:23 AM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell compared the actions taken by the central bank early in the pandemic as the economy barreled toward a recession to British efforts in World War II to evacuate troops at Dunkirk. Asked Thursday in an NPR interview...