Latest Jerome Powell News

Fed likely to signal a coming pullback in economic support

Sep. 20, 2021 11:46 AM EDT

WASHINGTON (AP) — The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, a first step toward unwinding the extraordinary support it's given the economy since the pandemic struck 18 months...

Fed reviews ethics policies after prolific trading uncovered

Sep. 16, 2021 15:29 PM EDT

WASHINGTON (AP) — The Federal Reserve is reviewing the ethics policies that govern the financial holdings and activities of its senior officials in the wake of recent disclosures that two regional Fed presidents engaged in extensive trading last year. Robert Kaplan,...

US producer prices jump an unprecedented 8.3% in August

Sep. 10, 2021 09:10 AM EDT

WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010. The Labor Department reported Friday that its producer price index — which...

Fed survey finds growth 'downshifted' in summer due to COVID

Sep. 08, 2021 15:28 PM EDT

WASHINGTON (AP) — U.S. economic activity “downshifted” in July and August due to rising concerns about COVID's delta variant, as well as supply chain problems and labor shortages, the Federal Reserve’s latest survey of the nation's business conditions revealed. ...

US hiring slows as delta variant weakens travel and tourism

Sep. 03, 2021 14:48 PM EDT

WASHINGTON (AP) — America’s employers added just 235,000 jobs in August, a surprisingly weak gain after two months of robust hiring and the clearest sign to date that the delta variant’s spread has discouraged some people from flying, shopping and eating out. The...

Asian markets gain ahead of US report on August employment

Sep. 02, 2021 00:38 AM EDT

BEIJING (AP) — Asian stocks rose Thursday as investors waited for U.S. jobs data that might influence when the Federal Reserve starts to wind down its stimulus. Shanghai, Tokyo and Hong Kong, which are the bulk of Asian market capitalization, advanced. South Korea and...

Asian shares mostly higher after US Fed signals on low rates

Aug. 29, 2021 22:47 PM EDT

TOKYO (AP) — Asian shares were mostly higher Monday, as investors interpreted comments from the head of the U.S. Federal Reserve as signaling low interest rates were here to stay for some time. Japan's benchmark Nikkei 225 edged up 0.2% in morning trading to 27,686.18....

Stocks rally to records amid relief rates will remain low

Aug. 27, 2021 16:30 PM EDT

NEW YORK (AP) — Wall Street rallied to records on Friday after the head of the Federal Reserve said it's still far from pulling interest rates off the record low that's helped markets soar, even if it does begin dialing back its support for the economy later this year. ...

Powell: Fed on track to slow aid for economy later this year

Aug. 27, 2021 15:06 PM EDT

WASHINGTON (AP) — The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed’s extraordinary response to the pandemic recession. ...

July US consumer spending ekes up 0.3% as delta threatens

Aug. 27, 2021 14:12 PM EDT

WASHINGTON (AP) — Growth in U.S. consumer spending slowed in July to a modest increase of 0.3% as infections from the delta variant spread, while inflation over the past 12 months hit its fastest pace in three decades. Last month's spending was not even a third of the...