Latest Jerome Powell News

President of European Central Bank Christine Lagarde smiles prior to a press conference following a meeting of the governing council in Frankfurt, Germany, Thursday, Jan. 23, 2020. (AP Photo/Michael Probst)

European Central Bank holds rates, launches policy review

Jan. 23, 2020 11:54 AM EST

FRANKFURT, Germany (AP) — The European Central Bank has decided to launch a top-to-bottom review of how it steers the economy in the 19 countries that use the euro currency. The review, the first since the global financial crisis, could include tweaking the bank's goal for inflation and finding ways to...

FILE - This Feb. 5, 2018, file photo shows the seal of the Board of Governors of the United States Federal Reserve System at the Marriner S. Eccles Federal Reserve Board Building in Washington. On Thursday, Jan. 16, 2020, President Donald Trump announced he has nominated Judy Shelton and Christopher Waller to serve on the Federal Reserve's influential Board of Governors. Shelton is an economic adviser to Trump's campaign who recently served as the U.S. executive director for the European Bank of Reconstruction and Development. Waller is the director of research at the Federal Reserve Bank of St. Louis. (AP Photo/Andrew Harnik, File)

Trump to nominate Shelton, Waller to Federal Reserve

Jan. 16, 2020 8:38 PM EST

WASHINGTON (AP) — President Donald Trump said Thursday that he intends to nominate two people to serve on the Federal Reserve's Board of Governors, an institution he has repeatedly attacked for not cutting rates deeply enough. Both were first named by Trump on Twitter in July but their nominations hadn't...

FILE - In this Aug. 14, 2019, file photo former Fed Chair Janet Yellen speaks with FOX Business Network guest anchor Jon Hilsenrath in the Fox Washington bureau in Washington. In her first year as Federal Reserve chair, Yellen presided over a policy panel divided over the issue of how much longer the central bank could afford to keep its benchmark interest rate at a record low, and how to prepare financial markets for the start of rate hikes. (AP Photo/Andrew Harnik, File)

2014 Fed conundrum: How to alert markets rates were going up

Jan. 10, 2020 4:06 PM EST

WASHINGTON (AP) — In her first year as Federal Reserve chair, Janet Yellen presided over a policy panel divided over the issue of how much longer the central bank could afford to keep its benchmark interest rate at a record low, and how to prepare financial markets for the start of rate hikes. According to...

FILE - In this Dec. 11, 2019, file photo Federal Reserve Chair Jerome Powell arrives to speak at a news conference after the Federal Open Market Committee meeting in Washington. On Thursday, Jan. 2, 2020, the Federal Reserve releases minutes from its December meeting when it kept its key interest rate unchanged. (AP Photo/Jacquelyn Martin, File)

Federal Reserve last month saw a declining risk of recession

Jan. 3, 2020 2:55 PM EST

WASHINGTON (AP) — The Federal Reserve’s policymaking committee saw much less risk of recession at its meeting last month, when it kept interest rates steady after three straight cuts and signaled that it expected to keep low rates unchanged through this year. Minutes of the December meeting,...

This Week: Home sales, consumer confidence, Fed minutes

Dec. 30, 2019 1:10 AM EST

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The National Association of Realtors issues its November tally of pending U.S. home sales Monday. The trade group's pending home sales index, which measures the number of purchase contracts signed, fell...

FILE - In this Nov. 14, 2019, file photo a pair of specialists work on the floor of the New York Stock Exchange. Investments around the world were all winners in 2019 as central banks unleashed more stimulus to bolster the global economy against the damage created by President Donald Trump’s trade war. (AP Photo/Richard Drew, File)

Markets in 2019: record stocks, lower rates, so-so IPOs

Dec. 26, 2019 4:59 PM EST

NEW YORK (AP) — On January 3, the S&P 500 sank 2.5% when Apple warned of sagging demand for the iPhone, an inauspicious start to 2019 following a 14% drubbing in last year's fourth quarter. On January 4, Federal Reserve Chairman Jay Powell said the central bank would be "patient" with its interest rate...

FILE - In this Nov. 4, 2019, file photo trader Peter Tuchman, center, works on the floor of the New York Stock Exchange. Markets are coming off a fabulous 2019, where stocks, bonds and other investments climbed in concert. But for the next year, and decade, in fact, Wall Street is telling investors to set their expectations considerably lower. (AP Photo/Richard Drew, File)

After ebullient 2019, Wall Street warns of slower road ahead

Dec. 19, 2019 11:06 AM EST

NEW YORK (AP) — After a year of nirvana, investors may need to get ready for something a little more normal. Markets are coming off a fabulous 2019, where stocks and bonds around the world climbed in concert. But for the next year — and decade, in fact — Wall Street is telling investors to...

FILE - In this Dec. 11, 2019, file photo specialist Thomas McArdle, left, and trader Jonathan Corpina, right, work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Dec. 18. (AP Photo/Richard Drew, File)

Global stocks dip after Trump impeachment vote

Dec. 19, 2019 8:23 AM EST

BEIJING (AP) — Global stock markets mostly dipped Thursday after the U.S. House of Representatives voted to impeach President Donald Trump and the central banks of Japan and Britain kept their interest rates low. The London stock index was up slightly while Frankfurt, London and Shanghai were little...

A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Dec. 18, 2019. Asian shares were mostly higher Wednesday after record highs on Wall Street amid investor optimism about an interim U.S.-China trade deal announced last week. (AP Photo/Koji Sasahara)

Global shares mixed as eyes turn from trade to impeachment

Dec. 18, 2019 8:00 AM EST

TOKYO (AP) — Global shares were mixed Wednesday as investor optimism fades about last week's U.S.-China trade breakthrough and all eyes turn to U.S. politics, where President Donald Trump is on the cusp of being impeached by the House. According to a tally compiled by The Associated Press,Trump is on track...

A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, Dec. 18, 2019. Asian shares were mostly higher Wednesday after record highs on Wall Street amid investor optimism about an interim U.S.-China trade deal announced last week. (AP Photo/Koji Sasahara)

Asian shares mixed after Wall Street hits new record highs

Dec. 17, 2019 11:34 PM EST

TOKYO (AP) — Asian shares meandered Wednesday after Wall Street logged fresh record highs, but investor optimism about an interim U.S.-China trade deal announced last week was fading. Japan's benchmark Nikkei 225 erased earlier gains to give up 0.5% to 23,958.63 in morning trading. Australia's S&P/ASX...