Jerome Powell

WASHINGTON | Trump slams rate increases by independent Federal Reserve

WASHINGTON — President Donald Trump on Thursday cast aside concerns about the Federal Reserve’s independence, saying he was “not happy” with the Fed’s recent interest rate increases. Trump told CNBC in an interview: “I don’t like all of this work that we’re putting into the economy and then I see rates going up.” Last month, … Continue reading WASHINGTON | Trump slams rate increases by independent Federal Reserve

WASHINGTON | Fed says trade war downturn could pose challenges

WASHINGTON — Federal Reserve Chairman Jerome Powell said Wednesday that the central bank has tools it can use to cushion the potential economic fallout from a trade war. But he told Congress the effort could be challenging if higher tariffs push inflation up too sharply. If the retaliatory tariffs imposed by other countries slowed U.S. … Continue reading WASHINGTON | Fed says trade war downturn could pose challenges

SINGAPORE  | Asian stocks ease after rallying on solid US performance

SINGAPORE  — Asian markets have eased after early gains as a sweep of positive news from Wall Street and beyond boosted confidence in the U.S. economy. KEEPING SCORE: Japan’s benchmark Nikkei 225 gained 0.4 percent to 22,794.19. The index had rallied 1 percent in early Wednesday trading. South Korea’s Kospi lost 0.4 percent to 2,288.67, … Continue reading SINGAPORE  | Asian stocks ease after rallying on solid US performance

NEW YORK | US stocks rebound as tech and household goods companies rise

NEW YORK — U.S. stocks rallied Tuesday as retailers, technology and household goods companies all made solid gains and helped the market shake off a weak start.  Netflix slumped after investors were disappointed with the streaming video company’s subscriber growth. Stocks skidded at the start of trading as investors sold some of their recent favorites including … Continue reading NEW YORK | US stocks rebound as tech and household goods companies rise

WASHINGTON | Powell bullish on US economy, expects rates to keep rising

WASHINGTON — Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually. He said solid job gains and strong economic growth has enabled the Fed to dial back the “extra boost” it implemented during the financial crisis and recession. In his semi-annual testimony to … Continue reading WASHINGTON | Powell bullish on US economy, expects rates to keep rising

WASHINGTON | Trump puts forward 2 more nominees for Fed board

WASHINGTON  | April 16, 2018 (AP)(STL.News)   President Donald Trump has selected Columbia University professor Richard Clarida to be vice chairman of the Federal Reserve and Kansas bank commissioner Michelle Bowman to fill another vacancy on the Fed’s seven-member board. The two nominations are the latest steps in Trump’s efforts to remake the seven-member Fed board, … Continue reading WASHINGTON | Trump puts forward 2 more nominees for Fed board

US mortgage rates up for 8th week; 30-year at 4.43 percent

WASHINGTON /March 01, 2018 (AP)(STL.News) — Long-term U.S. mortgage rates crept higher this week, marking the eighth straight week that it cost more to borrow to buy a home. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year fixed-rate mortgages rose to 4.43 percent this week from 4.40 percent last week. The … Continue reading US mortgage rates up for 8th week; 30-year at 4.43 percent

US economic growth revised down slightly to 2.5 pct. in Q4

WASHINGTON /February 28, 2018 (AP)(STL.News) — U.S. economic growth was revised down slightly to a still-solid 2.5 percent rate in the final three months of last year, as a jump in consumer spending was not quite as strong as first thought. The Commerce Department says the fourth quarter advance in the gross domestic product, the … Continue reading US economic growth revised down slightly to 2.5 pct. in Q4