Latest Central banking News

Wall Street balks as Fed signals party's ending, but is it?

Dec. 02, 2021 13:23 PM EST

NEW YORK (AP) — The Federal Reserve's job, its longest-serving chairman once said, is to “take away the punch bowl just as the party gets going,” and that's exactly the message Wall Street took from comments by current Chair Jerome Powell this week. Stock prices...

US long-term mortgage rates relatively flat this week

Dec. 02, 2021 10:19 AM EST

SILVER SPRING, Md. (AP) — The average interest rate for long-term mortgages in the U.S. remained flat this week, following the Federal Reserve suggesting that it would start tightening credit by raising its benchmark rate. Mortgage buyer Freddie Mac reported Thursday...

Fed survey finds supply-chain shortages boosting inflation

Dec. 01, 2021 17:18 PM EST

WASHINGTON (AP) — Many parts of the country were hit by supply chain disruptions and labor shortages in November, the Federal Reserve reported Wednesday. In a survey of business conditions around the country, the Fed's 12 regional banks found that the economy continued...

Asian shares mixed after omicron worries rattle Wall Street

Nov. 30, 2021 22:56 PM EST

TOKYO (AP) — Asian shares were mixed Wednesday amid nervous trading due to worries over the newest coronavirus variant. Japan's benchmark Nikkei 225 was up 0.8% in morning trading to 28,062.99, after gyrating earlier in the session. South Korea's Kospi jumped 1.1% to...

Powell's warning: Fed to tighten credit faster than expected

Nov. 30, 2021 16:32 PM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell took a sharp and unexpected turn Tuesday toward tightening credit for consumers and businesses in the face of mounting concerns about high inflation. Powell signaled that the Fed will likely act more quickly to phase...

Food, gas prices pinch families as inflation surges globally

Nov. 29, 2021 12:25 PM EST

BUDAPEST, Hungary (AP) — From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide. Rising...

Stocks sink on new COVID variant; Dow loses 905 points

Nov. 26, 2021 16:45 PM EST

NEW YORK (AP) — Stocks sank Friday, with the Dow Jones Industrial Average briefly falling more than 1,000 points, as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Investors were uncertain whether the variant could potentially reverse...

Asian stocks down after Fed says ready to act on inflation

Nov. 24, 2021 22:50 PM EST

BEIJING (AP) — Asian stock markets fell Thursday after Federal Reserve officials indicated they were ready to raise interest rates sooner than expected if needed to cool inflation. Market benchmarks in Shanghai, Hong Kong, Seoul and Sydney declined. Tokyo advanced. ...

Mexico gets female central bank head, supreme court justice

Nov. 24, 2021 18:10 PM EST

MEXICO CITY (AP) — Mexico’s president nominated the first woman to serve as governor of the country’s central bank Wednesday, saying that getting women into high office was a priority. The move comes one day after another female justice was named to the Supreme...

Fed officials express resolve to address inflation risks

Nov. 24, 2021 17:27 PM EST

WASHINGTON (AP) — Federal Reserve officials in discussions earlier this month said the central bank “would not hesitate” to take appropriate actions to address inflation pressures that posed risks to the economy. In minutes released Wednesday of the Fed's Nov. 2-3...