Latest Federal Reserve System News

US consumers boost spending 1% as inflation remains high

Jul. 30, 2021 11:18 AM EDT

WASHINGTON (AP) — American consumers increased their spending by 1% in June — a dose of energy for an economy that is quickly rebounding from the pandemic recession but is facing new risks led by the delta variant of the coronavirus. At the same time, a key inflation...

US economy surpasses pre-pandemic size with 6.5% Q2 growth

Jul. 29, 2021 15:28 PM EDT

WASHINGTON (AP) — Fueled by vaccinations and government aid, the U.S. economy grew at a solid 6.5% annual rate last quarter in another sign that the nation has achieved a sustained recovery from the pandemic recession. The total size of the economy has now surpassed its pre-pandemic level....

Asia stocks advance, tech giants rally after Fed report

Jul. 28, 2021 23:33 PM EDT

SINGAPORE (AP) — Asian stocks mostly rose Thursday after the Federal Reserve kept its accommodative monetary policies and signaled that economic recovery was on track. Chinese technology giants led the way, as authorities moved to soothe jitters over anti-monopoly and...

Fed's Powell downplays delta variant's threat to the economy

Jul. 28, 2021 17:46 PM EDT

WASHINGTON (AP) — The spread of the COVID-19 delta variant is raising infections, leading some companies and governments to require vaccinations and raising concerns about the U.S. economic recovery. But on Wednesday, Federal Reserve Chair Jerome Powell injected a note...

How major US stock indexes fared Wednesday

Jul. 28, 2021 16:20 PM EDT

Stocks ended a wobbly day with mixed results Wednesday after the Federal Reserve said it was seeing improvement in the economy, but not enough to start dialing down its support measures. The S&P 500 ended little changed after giving up a brief gain in the afternoon....

Asian stocks sink after Wall St pulls back from record

Jul. 28, 2021 00:33 AM EDT

BEIJING (AP) — Asian stock markets declined Wednesday after Wall Street pulled back from a record as investors awaited a Federal Reserve report for signs of when U.S. stimulus might be withdrawn. Investors also were uncertain how much farther China will go with a...

Asian stock markets advance after Wall St rises to record

Jul. 27, 2021 00:43 AM EDT

BEIJING (AP) — Asian stock markets were mostly higher Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. Shanghai, Tokyo and Seoul advanced while Hong Kong retreated. On...

How major US stock indexes fared Monday

Jul. 26, 2021 16:24 PM EDT

Stocks shook off a wobbly start and finished slightly higher on Wall Street, edging major indexes a bit further into record territory. The S&P 500 managed a gain, with strength in communications and energy companies outweighing weakness in other sectors. Investors...

Fed to discuss a pullback in economic aid with inflation up

Jul. 26, 2021 11:38 AM EDT

WASHINGTON (AP) — With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies. For now, the U.S. economy is...

This Week: Starbucks earns, Fed meeting, consumer spending

Jul. 26, 2021 09:22 AM EDT

A look at some of the key business events and economic indicators upcoming this week: BACK IN THE BLACK Starbucks serves up its latest quarterly snapshot Tuesday, Wall Street expects the cafe chain returned to a profit in the...