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Fed signals steady interest rates as economic risks lessen
The Federal Reserve believes that downside risks to the U.S. economy have lessened with the easing of trade tensions and better prospects for global growth but officials note a concern that possible spillovers from a deadly virus in China represent a new threat. In its semi-annual monetary policy report released Friday, the Fed did not […]
Fed signals steady interest rates as economic risks lessen
The Federal Reserve believes that downside risks to the U.S. economy have lessened with the easing of trade tensions and better prospects for global growth but officials note a concern that possible spillovers from a deadly virus in China represent a new threat. In its semi-annual monetary policy report released Friday, the Fed did not […]
Former Federal Reserve Chairman Paul Volcker has died
Paul Volcker, the former Federal Reserve chairman who in the early 1980s raised interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy was slipping into the […]
How a central banker’s low-rate shift showed the way for Fed
In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned. Months earlier, with Bullard’s support, the Fed had raised rates for the first time in seven years. Panicky financial markets responded by sending stocks tumbling. The Fed delayed plans for further rate […]
How a central banker’s low-rate shift showed the way for Fed
In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned. Months earlier, with Bullard’s support, the Fed had raised rates for the first time in seven years. Panicky financial markets responded by sending stocks tumbling. The Fed delayed plans for further rate […]
Wells Fargo 3Q profit falls 23 percent, revenue rises slightly
Wells Fargo’s net income in the third quarter fell 23 percent to $4.61 billion, as the banking giant struggles to get past scandals over sales practices in its retail division. The bank, based in San Francisco, said that its earnings fell to 92 cents per share from $1.13 per share a year ago. The results […]
Wells Fargo 3Q profit falls 23 percent, revenue rises slightly
Wells Fargo’s net income in the third quarter fell 23 percent to $4.61 billion, as the banking giant struggles to get past scandals over sales practices in its retail division. The bank, based in San Francisco, said that its earnings fell to 92 cents per share from $1.13 per share a year ago. The results […]
Powell sees cooler US hiring in possible hint of rate cuts
Federal Reserve Chairman Jerome Powell said this week that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy. Downward revisions to the government’s hiring data, announced in August, suggest less upward pressure on wages […]
Powell sees cooler US hiring in possible hint of rate cuts
Federal Reserve Chairman Jerome Powell said this week that U.S. job growth since early last year was not as robust as thought, a hint that the Fed may be ready to keep cutting interest rates to support the economy. Downward revisions to the government’s hiring data, announced in August, suggest less upward pressure on wages […]
What the Fed’s rate cut means for you
The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans’ personal finances, experts say. That’s because the reduction doesn’t offset the increases of recent years. And as the key rate creeps closer to zero, financial institutions are less […]
What the Fed’s rate cut means for you
The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans’ personal finances, experts say. That’s because the reduction doesn’t offset the increases of recent years. And as the key rate creeps closer to zero, financial institutions are less […]
US factory production rose at healthy pace in August
U.S. factory output increased in August at a solid clip, reversing a sharp drop in July, as production of metals, machinery and chemicals all rose. The Federal Reserve said manufacturing production climbed 0.5 percent last month, after a 0.4 percent drop in July. Despite the improvement, manufacturers will likely continue to struggle. Factories have been […]
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