By CHRISTOPHER RUGABER WASHINGTON (AP) — President Donald Trump opened another chapter in his effort to fire Federal Reserve Governor Lisa Cook Friday by establishing a “committee of inquiry” to investigate allegations that she made false statements in mortgage applications.…
By CHRISTOPHER RUGABER WASHINGTON (AP) — Most Federal Reserve officials expect that another interest rate increase will likely be needed this year to combat inflation, according to minutes released Wednesday from the central bank’s most recent meeting. The officials unanimously…
By CHRISTOPHER RUGABER WASHINGTON (AP) — About six weeks ago, Federal Reserve Chairman Kevin Warsh announced that a divided central bank was keeping its key interest rate unchanged. But on Wednesday, the Fed’s rate-setting committee unanimously agreed to a rate hike, and nearly all…
By ERIC TUCKER and PAUL WISEMAN WASHINGTON (AP) — The Trump administration is moving ahead with its efforts to fire Federal Reserve governor Lisa Cook, two months after the Supreme Court allowed her to retain her job while she fights the president’s effort to terminate…
By CHRISTOPHER RUGABER WASHINGTON (AP) — Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps. Fed policymakers “have no tolerance for persistently…
By CHRISTOPHER RUGABER WASHINGTON (AP) — Jerome Powell said Wednesday he plans to remain on the board of the Federal Reserve after his term as chair ends next month “for an undetermined period of time,” saying the “unprecedented” legal attacks by the Trump…
By CHRISTOPHER RUGABER WASHINGTON (AP) — The number of Federal Reserve policymakers willing to consider an interest rate hike this year rose between the January and March meetings, as higher gas prices stemming from the Iran war threatened to worsen inflation in the coming…
By CHRISTOPHER RUGABER WASHINGTON (AP) — The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans’ finances: Higher interest rates. Longer-term interest rates have risen quickly since the war began Feb. 28,…
By CHRISTOPHER RUGABER WASHINGTON (AP) — Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on economic growth, but they still expect to cut their key rate once in 2026. For now, Fed policymakers left short-term…
Everyone was expecting the Federal Reserve to cut interest rates this week and they didn’t disappoint, cutting rates by a quarter point. Fed officials have indicated more cuts are on the…
By SEUNG MIN KIM Updated 2:06 PM CDT, July 16, 2025 WASHINGTON (AP) — President Donald Trump said Wednesday that he was “highly unlikely” to fire Federal Reserve Chair Jerome Powell, a public statement made less than 24 hours after suggesting in…
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) - The Federal Reserve reinforced its inflation fight by raising its key interest rate for the seventh time this year and signaling more hikes to come. But the Fed announced a smaller…
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) - The Federal Reserve pumped up its benchmark interest rate by three-quarters of a point for a fourth straight time to fight high inflation but hinted that it could soon reduce the…
By DAMIAN J. TROISE and ALEX VEIGA AP Business Writers Wall Street closed sharply lower after the Federal Reserve stepped up its fight against inflation by raising interest rates. The S&P 500 lost 1.7% Wednesday, as did the Dow Jones…
By CHRISTOPHER RUGABER WASHINGTON (AP) — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.…
The Federal Reserve, which manages coin inventory, says that the coin supply chain is severely disrupted by the pandemic. Coins are not readily available at some grocery stores, banks and other shops because they are not circulating as they normally…