US Federal Reserve

The Federal Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that two regional Fed presidents engaged in extensive trading last year.

Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies. “We want to remind ourselves,” Powell said, “that prosperity isn’t experienced in all communities. Low- and moderate-income communities in many cases are just starting to feel...

Monroe County jail inmate Jason Aaron Gibson was charged Monday with animal cruelty after he was already being held on a vehicle theft charge.

Fed up with what they described as terrible conditions and a staffing shortage, protesters marched through Center City Wednesday and called for more funding for ACCT Philly.

The distinctive clang of metal hitting pavement echoed across Hong Kong. Over several hours, in successive waves on Sunday, different districts filled with the sound of protesters erecting and just as hastily taking down their improvised barricades. While past nights of protest have ended in protracted standoffs between demonstrators and riot police, rally participants this time took a different tack....

For most Americans, having a million dollars isn’t enough to be considered “wealthy.” It would take a net worth of more than double that amount: $2.27 million. That’s according to Charles Schwab’s 2019 Modern Wealth Survey, which asked 1,000 adults between age 21 and 75 what personal net worth they would need in order to be wealthy. The responses varied...

Fed up with a pothole in the middle of their street, a resident of Philly’s Point Breeze neighborhood took obscene measures to get it fixed.

U.S. employers added a robust 263,000 jobs in April, suggesting that businesses have shrugged off earlier concerns that the economy might slow this year and now anticipate strong customer demand. The unemployment rate fell to a five-decade low of 3.6% from 3.8%, though that drop reflected a rise in the number of people who stopped looking for work. Average hourly...

A college degree has long been a ticket to the U.S. middle class. It typically confers higher pay, stronger job security, greater home ownership and comparatively stable households. Those benefits have long been seen as worth the sacrifices often required, from deferred income to student debt. Yet college graduates aren’t as likely as they once were to feel they belong...

President Donald Trump’s pick for the Federal Reserve Board said he regrets past controversial articles he wrote about women and urged critics to focus on his economic record. Stephen Moore said the articles were meant as humor columns, but “some weren’t funny, so I am apologetic.” He called the criticism a “smear campaign” and told ABC: “Let’s make this about...

The S&P 500 hit an all-time high Tuesday, marking the stock market’s complete recovery from a nosedive at the end of last year. The benchmark index’s previous record was set last September, shortly before the market sank in the fourth quarter amid fears of a recession, an escalating trade war between the U.S. and China, and concern the Federal Reserve...

A University of Illinois study found that many young people lack financial literacy and money management skills. To combat this issue, Andrew Hill, an economic education officer at the Federal Reserve Bank of Philadelphia, trains local teachers on how to teach personal finance to students.

The city of Camden is pushing for safer streets and overall better quality of life for neighborhoods. Camden wants to break away from the stigma of violence, graffiti and trash, crippling the city. Telemundo 62 reporter Yaima Crespo shows us how the city plans to team up and clean up.

Job creation posted a solid rebound in March, with nonfarm payrolls expanding by 196,000 and the unemployment rate holding steady at 3.8 percent, according to a Bureau of Labor Statistics report Friday. That was better than the 175,000 Dow Jones estimate and comes after a dismal February that had economists wondering whether the decade-old economic expansion was nearing an end....

It’s financial literacy month, do you know where your retirement is? CNBC Chairman Mark Hoffman rings the NASDAQ opening bell today to kick off the special month, created in 2003 to teach Americans how to establish and maintain healthy financial habits. Americans can sure use help with retirement. Baby boomers, in particular, have not saved nearly enough for retirement. They’re...

U.S. auto sales are falling as vehicle prices climb, indicating that buyers at the lower end are getting squeezed out of the new car market, according to a new industry forecast. First-quarter auto sales are expected to drop by nearly 2.5 percent from a year earlier, to 4 million units, according to J.D. Power and LMC Automotive. Retail sales, which...

As auto loan debt has soared, so has the number of people who can’t pay, with the level of serious delinquencies breaking past the heights reached just after the financial crisis. More than 7 million Americans are 90 days or more behind on their vehicle loans as of the end of 2018, according to data released Tuesday by the New...

While many struggle to make ends meet during the shutdown, some have turned to small-dollar loans to fill the financial vacuum that comes as a result of the ongoing battle raging more than 1,000 miles away in Washington, according to NBC News. Because of a lack of regulations surrounding loans and the Trump administration rescinding some Obama-era protections, the annual...