Latest Federal Reserve System News

This Week: Consumer borrowing, job openings, Costco earns

Dec. 06, 2021 01:11 AM EST

A look at some of the key business events and economic indicators upcoming this week: JUST CHARGE IT The Federal Reserve issues its latest monthly tally of U.S. consumer borrowing Tuesday. The tally, which excludes mortgages and...

Asian shares mixed after China Evergrande warns of cash woes

Dec. 05, 2021 23:54 PM EST

BANGKOK (AP) — Shares were mixed in Asia on Monday after troubled Chinese property developer Evergrande warned late Friday it may run out of money. Hong Kong dropped 1.2% but the Shanghai Composite index rose. South Korea’s benchmark advanced but Tokyo and Sydney...

Stocks slump after murky jobs report as markets swing

Dec. 03, 2021 16:46 PM EST

A week of volatile swings on Wall Street ended Friday with more losses for stocks, as a mixed batch of U.S. job market data triggered another bout of dizzying trading. The S&P 500 closed 0.8% lower after erasing a 0.7% gain in the early going. The benchmark index was...

US jobless rate sinks to 4.2% as many more people find jobs

Dec. 03, 2021 14:38 PM EST

WASHINGTON (AP) — America's unemployment rate tumbled last month to its lowest point since the pandemic struck, even as employers appeared to slow their hiring — a mixed picture that pointed to a resilient economy that's putting more people to work. The government...

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...

Powell: Fed 'not at all sure' inflation will fade next year

Dec. 01, 2021 14:05 PM EST

WASHINGTON (AP) — In a fresh sign of his growing concerns about inflation, Chair Jerome Powell said Wednesday that the Federal Reserve can't be sure that price increases will slow in the second half of next year as many economists expect. Powell told the House Financial...

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...

How major US stock indexes fared Tuesday

Nov. 30, 2021 16:51 PM EST

Wall Street’s losses deepened on Tuesday after the head of the Federal Reserve said it will consider shutting off its support for financial markets sooner than expected. Major indexes started the day lower amid amid worries that the omicron variant would hit the global...