U.S. applications for unemployment benefits fell to their lowest level in more than three years last week, potentially complicating the Federal Reserve’s upcoming decision on interest rates.
The number of Americans applying for unemployment benefits declined last week in a sign that layoffs remain low, even as several high-profile companies have announced job cuts.
A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to minutes released Wednesday.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.
The government shutdown likely means there won’t be an inflation report next month for the first time in more than seven decades, the White House said Friday, leaving Wall Street and the Federal Reserve without crucial information about consumer prices.
The government shutdown is delaying another major economic report, leaving policymakers at the Federal Reserve with a cloudier picture even as the economy enters a challenging phase of stubbornly persistent inflation and a sharp slowdown in hiring.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
A bipartisan group of former Federal Reserve chairs, Treasury secretaries, and top White House economists urged the Supreme Court Thursday to reject an attempt by President Donald Trump to fire Federal Reserve governor Lisa Cook.
President Donald Trump’s appointee to the Federal Reserve’s Board of Governors said Monday that the central bank’s key interest rate should be much lower than its current 4.1% level, staking out a position far different than his colleagues.
The number of Americans applying for jobless aid last week retreated significantly after surging to a nearly four-year high a week earlier.
The Federal Reserve’s nearly-unanimous decision Wednesday to reduce its key interest rate was seen by many observers as a quiet show of unity and independence amid President Donald Trump’s relentless pressure for steeper cuts and his unprecedented effort to fire a top Fed official.
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.
Shoppers increased their spending at a better-than-expected pace in August from July, helped by back-to-school shopping, even as President Donald Trump’s tariffs are starting to hurt the job market and lead to price increases.
In another grim sign for the U.S. labor market, jobless claim applications jumped to their highest level in almost four years last week, virtually assuring the Federal Reserve will cut its benchmark interest rate next week.
Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
President Donald Trump’s goal of appointing a majority of the Federal Reserve’s board of governors faced a setback Tuesday when a court blocked his unprecedented attempt to fire Lisa Cook.
The U.S. job market was much weaker in 2024 and early this year than originally reported, adding to concerns about the health of the U.S. economy.
Stocks nudged higher ahead of a week with several data reports that could dictate by how much or even whether the Federal Reserve will cut interest rates at its next meeting in a week.
The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies.
The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased.
Fewer Americans sought unemployment benefits last week as employers appear to be holding onto their workers even as the economy has slowed.
The Federal Reserve’s preferred inflation gauge ticked higher last month in a sign that President Donald Trump’s broad-based tariffs are starting to lift prices for many goods.
Most U.S. stocks slipped as doubts rose about whether the Federal Reserve will deliver economy-juicing cuts to interest rates by September.
The Federal Reserve is expected to leave its short-term interest rate unchanged on Wednesday for the fifth straight meeting, a move that will likely underscore the deep divide between how Chair Jerome Powell and President Donald Trump see the economy.
President Donald Trump has opened up a new front in his attack on the Federal Reserve and its chair, Jerome Powell: He says the alledged mismanagement of a building renovation project could be grounds for firing Powell.
Federal Reserve Chair Jerome Powell on Thursday said the agency’s renovation of its office complex in Washington complies with plans approved by a local commission, disputing a White House suggestion that they had violated the law by deviating from those plans.
President Donald Trump is escalating his pressure campaign to get the Federal Reserve chairman to either lower interest rates or quit his post by targeting the expensive renovation at the central bank’s headquarters.
U.S. stocks climbed further into record heights after a report showed the U.S. job market looks stronger than Wall Street expected.
The Federal Reserve said all major banks passed this year’s stress tests, showing they can withstand a hypothetical severe economic downturn.
Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties.
U.S. stocks drifted to a mixed finish after the Federal Reserve indicated it may cut interest rates twice this year, though it’s far from certain about that.
The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year.
Calm returned to Wall Street, and U.S. stocks rallied, while oil prices gave back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.
U.S. filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers.
Filings for U.S. unemployment benefits rose to their highest level in eight months last week but remain historically low despite growing uncertainty about how tariffs could impact the broader economy.
The Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture.
President Donald Trump met with Federal Reserve Chair Jerome Powell and the two discussed the economy but not Powell’s outlook for interest rates, the Fed said.
Filings for U.S. jobless aid jumped last week but American workers broadly remain secure in their jobs despite economic uncertainty over global trade.
U.S. applications for jobless benefits held steady last week as layoffs remain low despite uncertainty over how President Donald Trump’s tariffs will impact the economy.
The average rate on a 30-year mortgage in the U.S. held steady this week, not far from its highest levels this year, but below where it was a year ago.
U.S. stocks rose after the United States and United Kingdom announced a deal on trade that would lower some tariffs between the two countries.
U.S. stocks ended a choppy day higher after the Federal Reserve left its main interest rate alone, as was widely expected, but also warned about rising risks for the U.S. economy.
The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen.
President Donald Trump is badgering the Federal Reserve to cut interest rates, but even if the Fed gave in to the pressure, it wouldn’t necessarily lead to lower borrowing costs for consumers.
U.S. stocks rallied further as better-than-expected profits for U.S. companies piled up, though CEOs say they’re unsure whether it will last because of uncertainty created by President Donald Trump’s trade war.
Wall Street weakened as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order.
The prospect of high inflation stemming from widespread tariffs along with weaker hiring could put the Federal Reserve in a difficult spot, Fed policymakers said in minutes from last month’s meeting.
U.S. stocks climbed after the Federal Reserve said the economy still looks healthy enough to keep interest rates where they are.
The Federal Reserve and its chair, Jerome Powell, are potentially headed to a tough spot as it prepares to meet Tuesday and Wednesday.
U.S. wholesale inflation decelerated last month, suggesting that price pressures are easing for now.
Stock markets are plunging, consumers and businesses have started to sour on the economy, and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession.
U.S. employers added solid 151,000 jobs last month, but the outlook is cloudy as President Donald Trump threatens a trade war, purges the federal workforce and promises to deport millions of immigrants.
Applications for U.S. jobless benefits rose to a three-month high last week but remained within the same healthy range of the past three years.