The Latest: Analyst still sees likelihood of Fed rate cuts
WASHINGTON (AP) — The Latest on the gathering of central bankers in Jackson Hole, Wyoming (all times local):
In the wake of Federal Reserve Chairman Jerome Powell's speech...
Trade war escalation comes at inopportune moment for economy
WASHINGTON (AP) — The escalation of the U.S.-China trade fight comes at a particularly inopportune moment for the global economy, threatening to turn a period of slower growth into...
California unemployment rate slightly increases in March
SACRAMENTO, Calif. (AP) — California's unemployment rate edged up slightly in March even as the state continued adding jobs, the state Employment Development Department reported Friday.
California unemployment rate holds at record low 4.1 percent
SACRAMENTO, Calif. (AP) — California's unemployment rate held at the record low of 4.1 percent in October as employers added 36,400 nonfarm payroll jobs, the state Employment Development Department said Friday.
The rate first hit the record low in September after spending months just a notch higher at 4.2 percent.
In October 2017, California's unemployment rate was 4.5 percent.
California now world’s 5th largest economy, surpassing UK
SACRAMENTO, Calif. (AP) — California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday.
California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the UK's economic output slightly shrunk over that time when measured in U.S. dollars, due in part to exchange rate fluctuations.
At a moment of uncertainty, Fed likely to leave rates alone
WASHINGTON (AP) — The Federal Reserve is all but sure to leave interest rates alone when it ends a policy meeting Wednesday at a time of steady gains for the U.S. economy but also heightened uncertainty surrounding the new Trump administration.
The Fed will likely signal that it wants further time to monitor the progress of the economy and that it still envisions a gradual pace of rate increases ahead.
Fed is widely expected to leave key interest rate unchanged
WASHINGTON (AP) — With voters set to choose a new president and Congress in six days, the Federal Reserve will likely keep a low profile when it ends a meeting Wednesday to try to ensure it doesn't become part of the debate at the close of a tumultuous political campaign.
Bank of Japan sets higher inflation goal to revive economy
TOKYO (AP) — Struggling to rejuvenate an ailing economy, Japan's central bank has set a more ambitious goal for raising inflation and announced steps meant to raise the profitability of financial firms.
World stocks rose Wednesday after the decision by the Bank of Japan, with Japan's benchmark Nikkei 225 index jumping 1.9 percent.