Latest Federal Reserve System News

Stock market today: Wall Street steadies after selloff as reports suggest US economy may be cooling

Oct. 04, 2023 10:28 AM EDT

NEW YORK (AP) — Wall Street is holding steadier in mixed trading Wednesday after reports suggested the U.S. economy may be cooling. The S&P 500 was 0.1% higher in morning trading, coming off a 1.4% tumble that had sent it to its lowest level in four months. The Dow Jones...

Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall Street

Oct. 04, 2023 00:39 AM EDT

BANGKOK (AP) — Asian markets were sharply lower on Wednesday after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high. U.S. futures and oil prices edged lower. Tokyo’s Nikkei...

More evidence that the US job market remains hot after US job openings rise unexpectedly in August

Oct. 03, 2023 11:30 AM EDT

WASHINGTON (AP) — U.S. job openings unexpectedly rose in August, another sign the U.S. labor market remains strong despite higher interest rates — perhaps too strong for the inflation fighters at the Federal Reserve. American employers posted 9.6 million job openings in August,...

Stock market today: Asian markets sink, with Hong Kong down 3% on heavy selling of property stocks

Oct. 03, 2023 00:49 AM EDT

BANGKOK (AP) — Asian markets declined Tuesday following a mixed session on Wall Street, where buying was pressured by rising bond yields. U.S. futures fell and oil prices also were lower. Hong Kong’s Hang Seng dropped more than 3% as investors unloaded property...

Fed's Powell gets an earful about inflation and interest rates from small businesses

Oct. 02, 2023 16:21 PM EDT

YORK, Pa. (AP) — Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington. On a visit Monday to York, Pennsylvania, Chair Jerome Powell got an earful from a group with a decidedly...

Stock market today: Wall Street wraps its miserable September with another weak finish

Sep. 29, 2023 16:33 PM EDT

NEW YORK (AP) — Wall Street closed out its worst month and quarter of the year with more losses on Friday. The S&P 500 slipped 0.3% after a gain from the morning withered, and the majority of stocks within the index sank. The Dow Jones Industrial Average fell 158 points, or...

Higher gas prices lift Fed's preferred inflation gauge but underlying price pressures remain mild

Sep. 29, 2023 12:19 PM EDT

WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating. Friday's report from the Commerce...

Federal Reserve's preferred inflation gauge shows a slight rise in latest sign of moderating price increases

Sep. 29, 2023 08:36 AM EDT
WASHINGTON (AP) — Federal Reserve's preferred inflation gauge shows a slight rise in latest sign of moderating price increases.

Stock market today: Asian shares mixed, with most regional markets closed after Wall St ticks higher

Sep. 29, 2023 01:00 AM EDT

BANGKOK (AP) — Asian markets were mixed on Friday, with only a few open due to public holidays across the region. U.S. futures and oil prices edged higher. Tokyo's Nikkei 225 index was down 0.3% at 31,764.01. In Bangkok, the SET declined 0.5%. Australia's...

The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%

Sep. 28, 2023 12:10 PM EDT

LOS ANGELES (AP) — Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly unaffordable housing market. The average rate on the...