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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.
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.
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.
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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.
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.
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.
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.