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US jobless claims drop after hitting 4-year high
U.S. jobless claims fell by 33,000 to 231,000 after spiking to a nearly 4-year high, as weak labor data drives Fed interest rate cuts.
Federal Reserve cuts key rate for first time this year
WASHINGTON (AP) — The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and it lowered its short-term rate […]
Wall Street coasts toward the finish of its best week in the last 5
NEW YORK (AP) — Wall Street is coasting toward the finish of its best week in the last five on Friday as U.S. stocks hang near their record levels. The S&P 500 was mostly unchanged from the all-time high it set the day before. The Dow Jones Industrial Average was down 204 points, or 0.4%, as […]
Trump administration requests emergency ruling to remove Cook from Fed board
WASHINGTON (AP) — The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve‘s board of governors by Monday, before the central bank‘s next vote on interest rates. The request represents an extraordinary effort by the White House to shape the board before the Fed’s interest rate-setting committee meets next Tuesday and […]
Average rate on a 30-year mortgage falls to lowest level in nearly a year
The average rate on a 30-year U.S. mortgage fell this week to its lowest level in nearly a year, reflecting a pullback in Treasury yields ahead of an expected interest rate cut from the Federal Reserve next week. The long-term rate eased to 6.35% from 6.5% last week, mortgage buyer Freddie Mac said Thursday. A year ago, […]
US inflation worsened last month as the cost of gas, food and airfares jumped
WASHINGTON (AP) — Inflation rose last month as the price of gas, groceries, hotel rooms and airfares rose, along with the cost of clothes and used cars. Consumer prices increased 2.9% in August from a year earlier, the Labor Department said Tuesday, up from 2.7% the previous month and the biggest increase since January. Excluding […]
Stocks hang near their records as hopes for rate cuts underpin markets
U.S. stocks hovered near record highs Tuesday as expectations grew that the Federal Reserve will cut interest rates at its upcoming meeting.
Wall Street sinks as US stocks fall toward their worst day in a month
U.S. stocks fell Friday, with the S&P 500 down 0.7% after record highs. August still marks its fourth straight month of gains.
Key US inflation gauge holds mostly steady though core inflation ticks higher
The Fed’s preferred inflation gauge held at 2.6% in July, though core inflation ticked up, keeping rates steady despite Trump’s tariffs.
Powell signals possible Fed rate cut, faces Trump pressure
Powell signals Fed could cut rates by September, balancing inflation and growth risks amid Trump pressure.
Powell signals Fed may cut rates soon even as inflation risks remain
Fed Chair Jerome Powell said a rate cut may come in the months ahead but gave no timing, citing risks from both inflation and unemployment.
Powell to give his last Jackson Hole speech under watchful gaze of Wall Street and the White House
WASHINGTON (AP) — Just three weeks ago, Federal Reserve Chair Jerome Powell spoke to reporters after the central bank had kept its key interest rate unchanged for a fifth straight meeting and said the job market was “solid.” His assessment was important because if the job market is healthy, there is less need for the Fed to […]
