Employers across the U.S. added 147,000 jobs in June, with the labor market remaining resilient despite slowing economic growth this year. The numbers Job growth was stronger than expected in June. Payroll gains sailed past the 115,000 predicted by economists polled by financial data firm FactSet. The unemployment rate ticked down to 4.1% from 4.2% in…
WASHINGTON (Reuters) -Michael Gibson, director of the U.S. Federal Reserve’s supervision and regulation division, has accepted a voluntary buyout and will retire at the end of this month after 33 years at the central bank, according to an email from Gibson to Fed officials seen by Reuters. In the message to fellow Fed officials, Gibson…
Federal Reserve Chair Jerome Powell said Tuesday that the U.S. central bank has held off on lowering interest rates this year because of President Trump’s tariffs. Speaking at a gathering of central bankers in Portugal, Powell said “I think that’s right” in response to a moderator’s question about whether the Fed would have cut its…
Wall Street investors in the week ahead are expected to focus on key economic data, including monthly non-farm payrolls report, and on Senate Republicans’ push to pass US President Donald Trump’s “One Big Beautiful Act” legislation. The Republicans are planning to vote on the proposed budget reconciliation bill over the weekend. It was passed in…
The S&P 500 (^GSPC) is back at an all-time high for the first time since February as optimism around Federal Reserve interest rate cuts and fading fears of tariffs have driven stocks higher. In the final full trading week of June, the S&P 500 rose 3.5%, while the Nasdaq Composite (^IXIC) rose more than 4.1%….
The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases accelerated in May as inflation remained above the Fed’s 2% target. The release comes as investors have been closely watching data releases for signs of when, or if, the Federal Reserve will cut interest rates this year. The “core” Personal Consumption Expenditures…
US stock futures rose as investors bet that an interest rate cut from the Federal Reserve could land sooner rather than later. Futures attached to the Dow Jones Industrial Average (YM=F) jumped 0.2%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) ticked up 0.1%. On Thursday, stocks climbed and…
Stocks were mixed Thursday and oil rose as traders kept a nervous eye on the Iran-Israel ceasefire, while the dollar dropped after Donald Trump said he had a handful of candidates to succeed Federal Reserve boss Jerome Powell, fuelling rate cut bets. Uncertainty over the US president’s trade war was also keeping sentiment subdued, with…
US President Donald Trump has upset the world’s markets and shaken confidence in the US dollar with his latest criticism of Federal Reserve Chair Jerome Powell and indication that he would appoint a successor earlier than usual. The dollar has fallen to its lowest in three years. read more With his latest salvos at Federal…
By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Chair Jerome Powell on Wednesday pushed back against reports the central bank was spending money excessively on renovations, saying that the almost 90-year-old headquarters “was not really safe,” while acknowledging cost overruns. “The media reports … are misleading and inaccurate in many, many respects,” Powell said…