The US economy expanded at a robust pace in the third quarter as household purchases accelerated ahead of the election and the federal govt ramped up defence spending. Inflation-adjusted GDP…
WASHINGTON: The US economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday's report from…
Wall Street surged to record highs after the Fed cut rates, with the S&P 500 climbing over 1.7% to set a new peak, surpassing its previous record from July. Meanwhile,…
Applications for US unemployment benefits fell to the lowest level since May, indicating the job market remains healthy despite a slowdown in hiring.Initial claims decreased by 12,000 to 219,000 in…
The US Federal Reserve lowered its benchmark interest rate by a half percentage point (50 basis points) on Wednesday, in an aggressive start to a policy shift aimed at bolstering…
NEW YORK: Wall Street is holding near its records on Wednesday after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.…
Federal Reserve Governor Michelle Bowman made history on Wednesday by becoming the first Fed governor since 2005 to vote against an interest-rate decision, marking a rare moment of dissent within…
The Federal Reserve is widely expected to lower interest rates this week after holding borrowing costs at a two-decade high for more than a year. By how much, however, remains…
US hiring fell short of forecasts in August after downward revisions to the prior two months, a development likely to fuel ongoing debate over how much the Federal Reserve should…
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and…