Fed set to signal no expectation of rate hikes anytime soon

WASHINGTON (AP) — Patience. A focus on incoming economic data. And no interest rate hikes likely soon. The message the Federal Reserve is poised to send when its latest policy meetin...

US candidate clears big hurdle in effort to head World Bank

WASHINGTON (AP) — The Treasury official nominated by President Donald Trump to be the next president of the World Bank has cleared a major hurdle, with nominations for the position closing with no oth...

US construction spending up strong 1.3 percent in January

WASHINGTON (AP) — Spending on U.S. construction projects in January posted the biggest gain in nine months, as strength in nonresidential construction and government projects offset continued weakness...

US durable goods orders up modest 0.4 percent in January

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods edged up slightly in January, but the strength came from a big increase in the volatile aircraft category. In encouraging n...

Powell says strong economy hiding struggles of poor families

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the strong U.S. economy is masking the struggles of many families in lower-income communities. Powell says those co...

Powell says Trump's attacks played no role in rate pause

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says political attacks by President Donald Trump played no role in the Fed's decision in January to signal that it planned to take a pause in h...

Powell says Fed taking 'wait-and-see' approach on rate hikes

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the healthy U.S. economy and low inflation are allowing the central bank to take a patient, wait-and-see approach on interest rates. ...

How Federal Reserve helped fuel the bull market in stocks

WASHINGTON (AP) — 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 th...

Consumer borrowing up in January with credit card rebound

WASHINGTON (AP) — Consumer borrowing rose at a slightly faster pace in January as borrowing on credit cards rebounded after a slowdown in December. The Federal Reserve says borrowing...

US productivity up modest 1.9 percent in fourth quarter

WASHINGTON (AP) — U.S. productivity grew at a rate of 1.9 percent in the fourth quarter, a slight improvement over the third quarter. Labor costs rose 2 percent, the strongest gain since the beginning...

Fed survey finds adverse impact from government shutdown

WASHINGTON (AP) — The Federal Reserve says the U.S. economy was expanding in January and February, but half the country was seeing fallout from the 35-day partial government shutdown. Some manufacture...

US budget deficit up 77 percent so far this budget year

WASHINGTON (AP) — The federal government recorded a budget surplus in January. But so far this budget year, the total deficit is 77 percent higher than the same period a year ago. Th...

Mnuchin announces halt in payments into 2 retirement funds

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin has informed Congress that he will stop making payments into two government retirement funds now that the debt limit has gone back into effect. ...

US construction spending drops 0.6 percent in December

WASHINGTON (AP) — U.S. construction spending edged down 0.6 percent in December with declines in residential construction and government projects. Even with the December setback, construction spending...

US consumer spending fell sharp 0.5 percent in December

WASHINGTON (AP) — U.S. consumer spending tumbled 0.5 percent in December, the biggest decline in nine years. Meanwhile, incomes were rose sharply in December but edged down in January. ...