NEW YORK (AP) — Interest rates are charging higher, and that can be a good or bad thing depending on whether you're saving or borrowing.
For savers, it's a long-awaited win. After years of making virtually nothing on their money market accounts and certificates of deposit, savers are finally getting closer to keeping up with inflation. Investors are also getting rewarded with higher interest payments for buying newly issued bonds.
The Latest: Stocks ending lower after Fed rate hike
WASHINGTON (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local):
3 things to watch for from the Federal Reserve on Wednesday
WASHINGTON (AP) — By just about everyone's estimation, the Federal Reserve will have an announcement to make Wednesday afternoon: It's raising interest rates.
The expected hike, the Fed's first since last December, will signal its view that the U.S. job market and economy are nearing full health, with the unemployment rate at an unusually low 4.6 percent. It would also mean that rates on some consumer and business loans will likely increase modestly.
Alan Greenspan, the former chairman of the Federal Reserve, will serve as a consultant and economic advisor to a Ridgewood investment management company, the company said Friday.
Yellen pledges to improve Fed’s workplace diversity
WASHINGTON (AP) — Chair Janet Yellen said Thursday she is committed to increasing diversity throughout the Federal Reserve system, including the ranks of senior leadership.
Yellen said that the Fed will benefit from greater diversity, and commercial banks will be better off with a more diverse workforce.
Yellen: Rate Hike Likely Appropriate this Year
Yellen likely to face questions about Wells Fargo
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen, who has been in the hot seat over the central bank's interest-rate policy, now has another headache: Wells Fargo.
Yellen is likely to face sharp questions from a House committee Wednesday over whether federal banking regulators fell down on the job by not detecting practices at Wells Fargo that allegedly had the nation's second largest bank opening millions of accounts without customers' permission.
AP FACT CHECK: Trump on Federal Reserve
WASHINGTON (AP) — A claim from the presidential debate and how it stacks up with the facts:
TRUMP: "The Fed, by keeping interest rates at this level, the Fed is doing political things. ... The Fed is being more political than Secretary Clinton."
Richmond Federal Reserve Bank president to speak at Marshall
HUNTINGTON, W.Va. (AP) — The president of the Federal Reserve Bank of Richmond is set to visit Marshall University next week.
Jeffrey Lacker is scheduled to speak Oct. 5 at the Brad D. Smith Foundation Hall in Huntington. A reception will follow.
Fed wants to put new limits on banks’ commodities activities
WASHINGTON (AP) — The Federal Reserve wants to put new limits on big banks' activities in physical commodities businesses, with an eye to reducing financial risks from volatile trading and transport of sensitive materials.
Why some Fed voting members hold more influence than others
WASHINGTON (AP) — Janet Yellen's Federal Reserve has demonstrated one of the core tenets of central banking: On the Fed panel that sets interest rates, some votes are more equal than others.
The panel — the Federal Open Market Committee — voted Wednesday to keep rates unchanged, something it's done for six straight meetings. What was unusual this time was that the result drew dissenting votes from three members — the most dissents in nearly two years.
Fed Keeps Key Rate Unchanged But Hints of Hike
Asian stocks rise after Fed leaves US rates unchanged
NEW YORK (AP) — Asian stocks rose Thursday after the U.S. and Japanese central banks left interest rates unchanged.
KEEPING SCORE: Hong Kong's Hang Seng index rose 1.4 percent to 24,007.40 points and the Shanghai Composite Index advanced 0.7 percent to 3,046.49. Japanese markets were closed for a holiday. Seoul's Kospi added 0.9 percent to 2,017.94 and Sydney's S&P-ASX 200 gained 0.4 percent to 5,497.40. Benchmarks in New Zealand, Taiwan and Indonesia also rose while Taiwan declined.
Fed keeps key rate unchanged but hints of coming hike
WASHINGTON (AP) — The Federal Reserve is keeping its key interest rate unchanged but signaling that it will likely raise rates before year's end.
The Fed said in a statement ending its latest policy meeting Wednesday that the U.S. job market has continued to strengthen and economic activity has picked up. But it noted that business investment remains soft and inflation too low and that it wants to see further improvement in the job market.
Comparing the US Federal Reserve’s views on jobs and economy
A comparison of the Federal Reserve's statements from its two-day meeting that ended Wednesday and its meeting July 26-27:
RATE HIKE TIMING
Now: The Fed "judges that the case for an increase in the federal funds rate has strengthened but decided, for the time being, to wait for further evidence of continued progress toward its objectives."
Then: The statement above is new and suggests an interest rate hike could be nearing.
The Latest: Yellen: Fed will monitor banks, controls
WASHINGTON (AP) — The latest on the U.S. Federal Reserve's monetary policy meeting, which ended at 2 p.m. with the release of a policy statement, followed by a news conference by Chair Janet Yellen (all times are Eastern):
Fed Chair Janet Yellen says Fed officials have been "distressed" to see banks only addressing problems of employee misconduct after they crop up, rather than having solid procedures in place to ensure that employees act "in an ethical and appropriate manner."
3 things to watch for from the Federal Reserve on Wednesday
WASHINGTON (AP) — Not quite yet.
That's the decision the Federal Reserve is expected to deliver Wednesday when it announces to the financial world whether it will resume raising interest rates now — or wait until later, perhaps sometime soon.
With economic outlook hazy, Fed likely to leave rates alone
WASHINGTON (AP) — Again and again in recent months, the Federal Reserve has signaled that it's edging closer to resuming the interest-rate hikes it began in December.
A flurry of tepid economic data could lead Fed to delay hike
WASHINGTON (AP) — U.S. factory output fell, consumers cut back at retailers and wholesale prices went nowhere in August, the latest evidence of a less-than-robust economy. The weak numbers could give the Federal Reserve further reason to hold off on raising interest rates when it meets next week.