The Federal Reserve signaled Wednesday that it needs to see further improvement in the job market and higher inflation before it raises interest rates from record lows. At the same time, the Fed at least opened the door to a rate increase later this year by no longer saying it will be “patient” in starting to raise its benchmark rate.
The Federal Reserve surprised financial markets on Wednesday with a cautious outlook on the economy, pushing stocks and bonds sharply higher.
The guessing game over higher interest rates is making for a jerky stock market.
The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers.
Treasury Secretary Jacob Lew is telling Congress the steps he will be taking once the federal government hits the debt limit on Monday.
Oil prices have further to drop with few signs of slowing production in the U.S., according to a global energy agency.
Switzerland's largest bank, UBS, has agreed to pay $135 million to settle claims that it helped rig currency-exchange rates in a scheme involving some of the world's biggest banks.
The stock market was hit hard Friday, capping a third week of declines, as investors reacted to a steep drop in oil prices and a jump in the value of the dollar.
Fake IRS agents have targeted more than 366,000 people with harassing phone calls demanding payments and threatening jail in the largest scam of its kind in the history of the agency, a federal investigator said Thursday.
For a second year, harsh winter weather has kept Americans away from shopping centers, slowed home sales and weighed on U.S. economic growth.
Germany's Commerzbank AG is paying $1.45 billion in agreements with U.S. and New York authorities for alleged violations of U.S. sanctions against countries including Iran and lapses in prevention of money laundering.
A sharp rally in the dollar relented on Thursday, helping push the stock market to its best day in five weeks.
The average bonus paid to securities industry employees in New York City grew 2 percent last year to nearly $173,000, New York’s state comptroller reported Wednesday.
Bank of America must revise its plans for increasing dividends or buying back its own stock, the Federal Reserve has ordered, citing gaps in the bank’s risk planning.
U.S. stock indexes closed slightly lower Wednesday, stabilizing a day after their biggest sell-off in two months.