Latest Federal Reserve System News

Stocks sink as markets brace for big week with Fed, earnings

Jan. 30, 2023 16:23 PM EST

NEW YORK (AP) — Stocks sank Monday as Wall Street prepped for a week full of potentially market-moving events, from decisions on interest rates around the world to earnings reports from the biggest U.S. companies. The S&P 500 dropped 1.3%, giving back some of the gains that had...

This Week: Fed rates, Alphabet earnings, employment update

Jan. 30, 2023 13:31 PM EST

A look at some of the key business events and economic indicators upcoming this week: WATCHING THE FED The Federal Reserve will meet this week and announce its latest interest rate decision on Wednesday. The central bank is expected to raise its...

Fed, set to impose smaller hike, may hint of fewer increases

Jan. 30, 2023 11:02 AM EST

WASHINGTON (AP) — The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March. But the Fed will likely announce a smaller hike for a second straight time, and it could change some key wording in its post-meeting statement about future rate...

Wyoming crypto bank's Federal Reserve application denied

Jan. 27, 2023 19:07 PM EST

CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank's application for Federal Reserve System membership, officials announced Friday, dealing a setback to the crypto industry's attempts to build acceptance in mainstream U.S. banking. Many in...

Wall Street adds more to its big January after strong week

Jan. 27, 2023 16:27 PM EST

NEW YORK (AP) — A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December. The S&P 500 rose 0.2% to clinch its third winning week in the last four and was near its highest level since the summer,...

How major US stock indexes fared Friday 1/27/2023

Jan. 27, 2023 16:23 PM EST

Stocks closed higher on Wall Street, marking the market’s third winning week in the last four. The S&P 500 rose 0.2% Friday, having given up much of its afternoon gain. The Nasdaq composite and the Dow also rose. American Express helped lead the way. It jumped after giving a...

US inflation and consumer spending cooled in December

Jan. 27, 2023 11:32 AM EST

WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices...

An inflation gauge closely tracked by the Federal Reserve slowed in December, and consumer spending fell

Jan. 27, 2023 08:34 AM EST
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve slowed in December, and consumer spending fell.

Asian shares edge higher, tracking Wall Street rally

Jan. 26, 2023 22:32 PM EST

TOKYO (AP) — Asian shares advanced Friday, tracking a rally on Wall Street following reports suggesting the economy and corporate profits may be doing better than feared. In Tokyo, data showed the core consumer price index was up 4.3%, slightly higher than expected at 4.2%, and...

US economy slowed but still grew at 2.9% rate last quarter

Jan. 26, 2023 16:11 PM EST

WASHINGTON (AP) — The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession. Thursday’s estimate from the Commerce Department showed that the...