Federal Reserve

Presumptive Fed chair nominee Jerome Powell would rank among the richest individuals ever to hold the office should he replace Janet Yellen next February, according to a report Wednesday.

With a new Federal Reserve leader about to be announced, the Fed is keeping its key interest rate unchanged.

With a new Federal Reserve leader about to be announced, the Fed is keeping its key interest rate unchanged.

President Donald Trump is expected to announce his nomination for the next Federal Reserve Chairman on Thursday, and it is widely expected that he will select Jerome Powell to take over the post from Janet Yellen when her four-year term ends on February 3, 2018.

President Donald Trump is expected to announce his nomination for the next Federal Reserve Chairman on Thursday, and it is widely expected that he will select Jerome Powell to take over the post from Janet Yellen when her four-year term ends on February 3, 2018.

The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth, a sign it is on track to lift borrowing costs again in December.

The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth, a sign it is on track to lift borrowing costs again in December.

Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.

Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.

Fed leaves key interest rate unchanged, but hints at future hikes as economy shakes off hurricane impacts.

Fed leaves key interest rate unchanged, but hints at future hikes as economy shakes off hurricane impacts.

Asian shares were higher Wednesday on optimism about global economic growth following gains on Wall Street.

Asian shares were higher Wednesday on optimism about global economic growth following gains on Wall Street.

The Federal Reserve is expected to keep interest rates unchanged on Wednesday as speculation swirls on who will be its next leader, but the U.S. central bank will likely point to a firming economy as it edges closer to a possible rate rise next month.

The Federal Reserve is expected to keep interest rates unchanged on Wednesday as speculation swirls on who will be its next leader, but the U.S. central bank will likely point to a firming economy as it edges closer to a possible rate rise next month.

U.S. stock indexes held steady in early trading on Tuesday following strong earnings reports from the makers of Kellogg's cereals, Oreo cookies and others.

U.S. stock indexes held steady in early trading on Tuesday following strong earnings reports from the makers of Kellogg's cereals, Oreo cookies and others.

Shares were mostly lower Tuesday in Asia after markets retreated from their record highs overnight and China reported weak manufacturing data.

Shares were mostly lower Tuesday in Asia after markets retreated from their record highs overnight and China reported weak manufacturing data.

The Bank of England is on Thursday set to raise interest rates for the first time in a decade in order to keep a lid on inflation, a move that has the potential to hurt the British economy just as it struggles with the uncertainties of Brexit.