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Asian shares were mostly higher early Monday after President Joe Biden and House Speaker Kevin McCarthy reached a final agreement on a deal to raise the U.S. national debt ceiling.
The head of the International Monetary Fund isn't ready to write off the dollar's role as a global reserve currency --- and thinks the U.S. will avert default.
The dollar has defied the threat of a historic U.S. default and climbed in recent weeks at the most rapid pace since February.
The rally that propelled Japanese stocks to the highest level in nearly 33 years is a direct result of renewed weakness in Japanese yen, said a strategist at RBC Capital Markets.
Several Fed officials at the May meeting said that further interest rate hikes may not be needed, minutes of the meeting released Wednesday showed.
What is the script the Federal Reserve will follow if the debt ceiling is breached? Here are some educated guesses.
San Francisco Fed President Mary Daly said Monday it was important for the Fed to keep an open mind when it meets in mid-June.
St. Louis Fed President James Bullard on Monday said he would like to see two more 25-basis-point rate hikes this year.
Fed Chairman Jerome Powell said Friday that economic data so far confirms the central bank's view that future progress on bringing down inflation will be slow.
New York Fed President John Williams on Friday said there is no evidence that the era of very low natural rates of interest has ended.
The financial market thinks the Fed will come to the rescue and cut rates if there is a recession, but many economists say this view is misguided.
Two fed officials, speaking separately Thursday, demonstrated the debate that is raging ahead of the June meeting.
Richmond Fed President Thomas Barkin said Tuesday he welcomes the option to either pause or hike interest rates at the June meeting.
The looming U.S. debt-ceiling crisis has taken center stage in the U.S. financial markets as investors are holding out for an update on plans to resolve a three-month standoff and avoid a default on U.S. Treasury debt.
The New York Fed’s Empire State business-conditions index plunged 42.6 points in May to negative 31.8, the regional Fed bank said Monday.
Atlanta Fed President Raphael Bostic said Monday that it would be appropriate for the central bank to pause interest-rate hikes at its June meeting.
Deposits at commercial U.S. banks declined for the second straight week, according to the Federal Reserve on Friday.
Many inflation measures are now higher than they were a year ago, said St. Louis Fed President James Bullard on Friday.
The U.S. dollar is set for its biggest weekly advance since February.
Federal Reserve Gov. Michelle Bowman on Friday backed more interest rate hikes if inflation remains high and the labor market remains tight.
Asian shares were mostly lower Friday on looming worries over U.S. banks and lagging demand from China, the region's major driver of growth.
The Federal Reserve said Thursday its emergency lending to banks rose to $92.4 billion from $81.1 billion last week.
Minneapolis Fed President Neel Kashkari said Thursday he was watching the intersection of inflation, interest-rate policy and then the impact on banks.
Initial jobless claims rose by 22,000 to 264,000 in the week ended May 6, the Labor Department said Thursday.
U.S. producer price inflation moderated to a 2.3% annual rise in April, the smallest rise since January 2021.
