Fed cuts rates by 50 basis points amid coronavirus fears and Trump’s call

U.S. 03/03/20, 17:25

The Federal Reserve (Fed) on Tuesday, March 1, announced its first emergency interest rate cut since the financial crisis, lowering the rate by half a percentage point, amid a growing concern from the coronavirus outbreak. President Donald Trump said the cut was not enough. In an unexpected move, the Federal Open ...

President Trump: Fed puts US at competitive disadvantage

Business 10/31/19, 18:25

President Donald Trump on Thursday, Oct. 31, raged at the Federal Reserve (Fed) and its chairman Jerome Powell, saying “people are very disappointed” as the central bank is putting the United States at a competitive disadvantage. “People are VERY disappointed in Jay Powell and the Federal Reserve,” President Trump tweeted, one ...

President Trump says ECB’s rate cut hurting US exports, blasts Fed

Business 09/13/19, 05:27

President Donald Trump on Thursday, Sept. 12, criticized central bank of Europe and the central bank of the United States, saying the latest rate cut by the European Central Bank (ECB) is hurting U.S. exports, while the Federal Reserve (Fed) just “sits, and sits.” “European Central Bank, acting quickly, Cuts Rates ...

Update: Markets edge up ahead of Fed rate decision

Business 05/01/19, 04:50

The Latest on the Federal Reserve's monetary policy meeting (all times local): 4:45 a.m. Stock markets are edging higher ahead of a Federal Reserve policy meeting at which the central bank is not expected to change its interest rates but could give clues on their future direction. Futures for the Dow and the ...

US consumer prices rose 0.4% in March on higher gas costs

Business 04/10/19, 10:46

U.S. consumer prices climbed 0.4% in March, an increase caused mostly by higher costs for gasoline, electricity and shelter. The Labor Department said Wednesday that the consumer price index rose a healthy 1.9% last month from a year ago, a sharp jump from the annual pace of 1.5% in February. Inflation has ...

How Federal Reserve helped fuel the bull market in stocks

Business 03/08/19, 11:08

The decade-long bull market in stocks was fueled in no small part by the aggressive moves the Federal Reserve took after the 2008 financial crisis and the Great Recession to nurse the U.S. economy back to health. The Fed took the extraordinary step of keeping its benchmark short-term rate at a ...

India’s central bank lowers key lending rate to 6.25 percent

Business 02/07/19, 03:20

India's central bank on Thursday lowered its key interest rate by a quarter of a percentage point to 6.25 percent, a step that is expected to boost the economy. The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but can also ...

Asian markets rise on hopes for interest rate cuts

Business 02/07/19, 03:13

Asian shares were mostly higher Thursday on news that the Reserve Bank of Australia may cut interest rates, driving hopes that other central banks could come to the same conclusion. Markets in China, Hong Kong and Taiwan were closed for Lunar New Year. When borrowing is made less expensive, the increase ...

Fed Chairman Powell urges plain speaking at Fed

Business 02/06/19, 20:31

Federal Reserve Chairman Jerome Powell said Wednesday that he has used his first year as chairman to make sure the central bank deserves the trust of the American people, especially at a time when people are losing faith in big institutions. Powell acknowledged that at the moment "we are paddling against ...

Asian shares mixed ahead of Fed meeting, US-China talks

Business 01/30/19, 02:45

Asian markets were mixed on Wednesday as traders await the conclusion of a Federal Reserve policy meeting and U.S.-China talks. KEEPING SCORE: Japan's Nikkei 225 index retreated 0.5 percent to 20,556.54 while South Korea's Kospi climbed 0.9 percent to 2,203.17. Hong Kong's Hang Seng index gained 0.1 percent to 27,564.19. The ...

European Central Bank holds firm despite weaker growth

Business 01/24/19, 07:53

The European Central Bank kept its level of support for the eurozone's slowing economy unchanged Thursday despite worries about Brexit, trade wars and weaker global growth. The bank's 25-member governing council did not later interest rate benchmarks or the brief policy statement containing promises that rates will not go up until ...

Trade war, big profits, wild swings: A look at 2018 markets

Business 12/31/18, 17:00

Wall Street started 2018 strong, buoyed by a growing economy and corporate profits. It didn't end that way. U.S. stocks climbed to new highs in January, shook off a sudden, steep drop by spring and rode a wave of tax cut-juiced corporate earnings growth to another all-time high by September. Then ...

Fed’s Powell embraces uncertainty and risks that go with it

Business 12/20/18, 06:38

Jerome Powell sounded a note of humility Wednesday. The question for the Federal Reserve chairman is whether humility plays well with the financial markets. Speaking at a news conference after the Fed raised its key interest rate for the fourth time this year, Powell acknowledged the challenge for him and his ...

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