Latest Jerome Powell News

Stocks end mixed on Wall Street, still notch weekly gains

Oct. 22, 2021 17:14 PM EDT

Wall Street capped a choppy day of trading Friday with an uneven finish for the major stock indexes, as losses for several large technology companies weighed on the market. The S&P 500 was little changed a day after it set an all-time high, but the 0.1% slip ended...

Powell says inflation risks rising, but Fed can be 'patient'

Oct. 22, 2021 15:49 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Friday that the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely keep inflation elevated well into next year. The Fed is not yet...

US regulators endorse efforts to address climate risks

Oct. 21, 2021 19:46 PM EDT

WASHINGTON (AP) — U.S. financial regulators on Thursday approved a series of steps toward addressing the dangers that climate change poses to the nation’s financial system. The Financial Stability Oversight Council, which is headed by Treasury Secretary Janet Yellen...

Fed imposes sweeping new limits on policymakers' investments

Oct. 21, 2021 17:03 PM EDT

WASHINGTON (AP) — The Federal Reserve is imposing a broad new set of restrictions on the investments its officials can own, a response to questionable recent trades that forced two top Fed officials to resign. The Fed announced Thursday that its policymakers and senior...

US unemployment claims fall to new pandemic low of 290,000

Oct. 21, 2021 08:58 AM EDT

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week to a new low point since the pandemic erupted, evidence that layoffs are declining as companies hold onto workers. Unemployment claims dropped 6,000 to 290,000 last week, the...

IMF warns economy recovery threatened by virus, inflation

Oct. 14, 2021 16:17 PM EDT

WASHINGTON (AP) — The International Monetary Fund is warning of rising threats to the global economic recovery posed by the ongoing coronavirus pandemic and an outbreak of inflation. The lending agency called Thursday for greater efforts from wealthy nations to boost...

From cars to gasoline, surging prices match a 13-year high

Oct. 13, 2021 19:28 PM EDT

WASHINGTON (AP) — Another jump in consumer prices in September sent inflation up 5.4% from where it was a year ago, matching the largest increase since 2008 as tangled global supply lines continue to create havoc. U.S. consumer prices rose 0.4% in September from August...

IMF head pledges renewed efforts to protect data integrity

Oct. 13, 2021 17:26 PM EDT

WASHINGTON (AP) — The embattled head of the International Monetary Fund, who successfully fought to keep her job following a data-manipulation scandal, on Wednesday pledged renewed efforts to bolster data integrity while focusing on the main job of helping countries recover from a...

Fed officials: Bond purchases could end by middle of 2022

Oct. 13, 2021 16:15 PM EDT

WASHINGTON (AP) — Federal Reserve officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022. The discussion was revealed...

Puzzle overhanging job market: When will more people return?

Oct. 07, 2021 13:51 PM EDT

WASHINGTON (AP) — When the U.S. government issues the September jobs report on Friday, the spotlight will fall not only on how many people were hired last month. A second question will command attention, too: Are more people finally starting to look for work? To an...