Money Market Funds  

The New York Fed named Federal Reserve Bank of San Francisco chief John Williams as its next president, touting his monetary-policy expertise despite criticism over his supervision of Wells Fargo and calls for a woman or minority candidate to fill the post.

Federal Reserve Bank of San Francisco President John Williams, reported to be the top pick to replace the retiring head of the New York Fed, failed to stop widespread customer abuses at Wells Fargo, the public-interest group Better Markets alleges.

Federal Reserve Bank of San Francisco President John Williams, reported to be the top pick to replace the retiring head of the New York Fed, failed to stop widespread customer abuses at Wells Fargo, the public-interest group Better Markets alleges.

The U.S. central bank's monetary-policy committee raised benchmark borrowing costs by a quarter percentage point to a range of 1.5% to 1.75%, in Jerome Powell's first meeting as Fed chairman.

Traders fully expect the Fed's monetary-policy committee to raise benchmark borrowing costs by a quarter percentage point at a meeting that starts Tuesday and culminates Wednesday with Powell's first press conference as chairman. The question is what comes next.

A key risk measure in money markets known as the Libor-OIS spread has risen to levels not seen since worries mounted in 2011 and 2012 over the debt troubles of European countries Portugal, Italy, Greece and Spain.

A report Friday from the U.S. Labor Department shows inflation rose to 2.2% in February from a year earlier, accelerating from January's pace of 2%.

A report Friday from the U.S. Labor Department shows the economy added 313,000 jobs in February, well above estimates, while wage growth moderated to 2.6%.

A report Friday from the U.S. Labor Department is expected to show that wages climbed 2.8% in February from a year earlier, with unemployment falling further to 4%, based on economist surveys by the data provider FactSet.

Federal Reserve Governor Lael Brainard said in a speech that further gradual rate increases are "appropriate," especially in light of the economic stimulus expected to come from President Donald Trump's tax cuts.