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World 05 Sep 2020 | 4:17 AM

Spotlight: U.S. labor market continues to recover, with momentum seemingly fading

WASHINGTON, Sept. 4 (Xinhua) -- The U.S. unemployment rate continued to drop in August, reflecting the slow recovery of the nation's pandemic-ravaged labor market. But analysts said the momentum seems to be fading, with an uncertain path hinging on the virus.

World 03 Sep 2020 | 4:10 AM

U.S. economy grows modestly amid continued uncertainty about pandemic: Fed survey

WASHINGTON, Sept. 2 (Xinhua) -- The U.S. economy grew modestly over the summer amid continued uncertainty about the pandemic and its negative effect on consumer and business activity, according to a Federal Reserve survey released on Wednesday.

World 01 Sep 2020 | 3:59 AM

U.S. dollar slips amid Fed's new strategy

NEW YORK, Aug. 31 (Xinhua) -- The U.S. dollar weakened in late trading on Monday as market participants continued to digest the Federal Reserve's policy shift on inflation.

World 01 Sep 2020 | 2:00 AM

U.S. Fed official says no urgency to update guidance on rates

WASHINGTON, Aug. 31 (Xinhua) -- There's no urgency for the U.S. Federal Reserve to offer more guidance on how long it will hold short-term interest rates near zero as market participants understand the central bank won't raise rates any time soon, a senior Fed official has said.

World 30 Aug 2020 | 4:49 AM

Roundup: Dow erases 2020 losses, still shy of record high

NEW YORK, Aug. 29 (Xinhua) -- Wall Street's major averages finished the past week on an upbeat note, with the Dow rising more than 160 points to erase its losses for the year.

World 29 Aug 2020 | 4:59 AM

U.S. stocks rise amid economic data

NEW YORK, Aug. 28 (Xinhua) -- U.S. stocks finished higher on Friday as investors pored through newly-released economic data.

World 28 Aug 2020 | 4:56 AM

U.S. stocks end mixed after Fed's new approach to inflation

NEW YORK, Aug. 27 (Xinhua) -- Wall Street's major averages closed mixed on Thursday as investors pored through the U.S. Federal Reserve's new policy strategy on inflation and a slew of key economic data.

World 28 Aug 2020 | 4:00 AM

U.S. dollar little changed after Fed announces new approach to inflation

NEW YORK, Aug. 27 (Xinhua) -- The U.S. dollar was roughly flat in late trading on Thursday after the Federal Reserve rolled out new policy strategy on inflation.

World 28 Aug 2020 | 3:34 AM

Spotlight: U.S. Fed announces new policy strategy on inflation, likely to keep rates low for years

WASHINGTON, Aug. 27 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell announced on Thursday that the central bank will seek to achieve inflation that averages 2 percent over time, a new policy strategy that will likely keep short-term interest rates near zero for years.