Photo of Jerome Powell

Fed Sees Rates Near Zero Through 2023, Perhaps Longer

WASHINGTON — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at...

Tech Slump Sends Stock Market To Its Biggest Loss Since June

NEW YORK — Wall Street’s euphoria took a break Thursday, as steep losses in technology stocks dragged the rest of the market down with them. The S&P 500 fell 3.5%, the biggest decline for stocks since early June, when investors were dealing with a surge...
Photo of a woman holding grocery bags

US Consumer Spending Rose a Moderate 1.9% in July

WASHINGTON — U.S. consumers increased their spending by 1.9% last month, a dose of support for an economy struggling to emerge from the grip of a pandemic that has held back a recovery and kept roughly 27 million people jobless. The July gain marked the thi...

Virus Surge Makes US Weak Link in Global Economic Recovery

FRANKFURT, Germany — People in China are back to buying German luxury cars. Europe's assembly lines are accelerating. Now the global economy is waiting for the United States to get its coronavirus outbreak under control and boost the recovery, but there's litt...