St. Louis Federal Reserve Bank President James Bullard, one of the most hawkish members of the central bank since it started it aggressive rate-hiking campaign, is stepping down.

Two Federal Reserve officials said they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected.

Asian stock markets are mixed after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown.

Asian stock markets are lower after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to cool inflation.

Stocks ended higher on Wall Street but still wound up with weekly losses after several days of bumpy trading.

The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months.

The Federal Reserve may have to raise its benchmark interest rate much higher than many people expect to get inflation under control, That's according to James Bullard, who leads the Federal Reserve Bank of St. Louis.

St. Louis Federal Reserve president James Bullard says last week’s jobs report points to a solid U.S. economy with little sign of a recession on the horizon and one that can withstand higher interest rates.

Wall Street is closing out a winning week with a sputtering finish on Friday, as stocks waffled following a stronger-than-expected report on the U.S. jobs market.

Federal Reserve Governor Christopher Waller says he is willing to support a half-point interest rate hike at the central bank’s next meeting in March.

Federal Reserve Governor Michelle Bowman says she's open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.

The Federal Reserve should start raising interest rates next month to help rein in too-high inflation, New York Fed President John Williams said Friday.

Shares have mostly fallen in Asia as investors remain anxious over the possibility that Russia could invade Ukraine.

A worsening inflation picture has touched off a range of opinions from the Federal Reserve’s policymakers about just how fast they should raise interest rates beginning at their next meeting in March.

Inflation soared over the past year at its highest rate in four decades, hammering America’s consumers, wiping out pay raises and reinforcing the Federal Reserve’s decision to begin raising borrowing rates across the economy.

With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years.

Federal Reserve Chair Jerome Powell surely expected to have some breathing room after taking the first step this month to dial back the Fed’s emergency aid for the economy.

The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, the first step toward unwinding the extraordinary support it’s given the economy since the pandemic struck 18 months ago.

Last week’s jobs report demonstrated the ongoing strength of the U.S. economy and underscored the need for the Federal Reserve to rein in its stimulus efforts, a Fed official said Tuesday.

The president of the Federal Reserve Bank of Boston added his voice to a growing number of people, inside and outside the Fed, who say the central bank should soon begin to dial back its extraordinary aid for an economy that is strongly recovering from the pandemic recession.

The spread of the COVID-19 delta variant is raising infection rates, leading some businesses and governments to require vaccinations and raising concerns about the U.S. economic recovery.

With inflation uncomfortably high and the COVID-19 Delta variant raising economic concerns, a divided Federal Reserve will meet this week to discuss when and how it should dial back its ultra-low-interest rate policies.

Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable level.

Federal Reserve Chair Jerome Powell says the economy is growing at a healthy clip, and that has accelerated inflation.

Asian shares have rebounded from their retreat a day earlier, tracking a recovery on Wall Street.

Stocks are slumping on Wall Street Friday, and the S&P 500 is on track for its first losing week in four.

Asian stock markets have risen as inflation fears eased and investors looked ahead to U.S. data that are expected to show economic growth accelerating.

WASHINGTON – The Senate on Thursday narrowly confirmed the nomination of Christopher Waller for the Federal Reserve's Board of Governors, placing another of President Donald Trump's picks on the Fed's influential board after a string of high-profile rejections. Waller had won some Democratic votes when the Senate Banking Committee approved his nomination in July. And some worried that Waller would agree with the Fed's recent moves to loosen regulations on large banks. With Waller's confirmation by the Senate, four of the Fed's six governors have now been chosen by Trump. Trump’s two previous picks for the Fed's board, Stephen Moore and Herman Cain, ran into so much opposition that they withdrew from consideration before their nominations came before the Senate.

The stock index fell more than 400 points, or about 1.6%, after Trump tweeted he "will be responding to China's tariffs this afternoon." Prior to the market open, China announced new retaliatory tariffs that will impact $75 billion worth of US goods and range from 5% to 10%. The US dollar, measured by the ICE U.S. Dollar Index, dropped 0.4%, and the yield on the 10-year US Treasury rate fell to 1.535%. Trump, who has long called on the Fed to cut interest rates more aggressively, tweeted "as usual, the Fed did NOTHING." Bullard spoke out in favor of interest rate cuts on CNBC given the recent inversion of the Treasury yield curve.

Chip Somodevilla/Getty Images(CNN) - Two regional Federal Reserve presidents publicly dissented Friday over this week's interest rate cuts, issuing separate statements arguing that economic conditions didn't warrant easing. "I do not see a clear and compelling case for additional monetary accommodation at this time," said Boston Fed President Eric Rosengren in a statement. "Incoming economic data and the outlook for economic activity over the medium term warranted no change in the policy rate," Kansas City Fed President Esther George said in her statement, adding maintaining interest rates would have been "appropriate." The Fed has left the door open for further rate cuts, while also suggesting that it has not entered an extended period of lowering rates. Members of the Federal Open Market Committee, comprised of the seven Board members and 12 regional Fed presidents, have dissented under both of Powell's predecessors.