federal reserve Archives - The Gloversville Leader Herald

25 Aug

Stock market today: Wall Street is higher ahead of speech by Federal Reserve’s head

-0 CommentsLocal Newsfederal reserve, inflation, Jackson Hole, jerome powell

NEW YORK (AP) — Stocks are rising in early trading Friday ahead of a speech by the head of the Federal Reserve.The S&P 500 was up 0.4%, coming off its worst loss in three weeks. The Dow Jones Industrial Average was up 163 points, or 0.5%, at 34,362, as of 9:40 a.m. Eastern time, and the Nasdaq composite was 0.6% higher.The day’s headliner is Fed Chair Jerome Powell, who is giving a speech at an annual Fed event that’s been the site of big policy announcements in the past. The hope is that he’ll say the fall in inflation over the last…

23 Aug

Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?

-0 CommentsBusiness, Local News, National News, Newsbusiness, economics, economy, federal reserve, interest rate, jerome powell, us economy

By Christopher Rugaber/The Associated Press WASHINGTON (AP) — A year ago, Chair Jerome Powell delivered a stark warning: To fight persistently high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing "some pain" in the form of job losses and weaker economic growth. Since Powell spoke at last summer's annual conference of central bankers in Jackson Hole, Wyoming, the Fed has followed through, raising its benchmark rate to 5.4%, its highest level in 22 years. Substantially higher loan rates have followed, making it harder for Americans to afford a home or a car or for businesses to…