• In this Wednesday, June 22, 2016, file photo, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, before the House Financial Services Committee hearing on U.S. monetary policy. The Federal Reserve releases its latest monetary policy statement Wednesday, July 27, after wrapping up a two-day meeting. (AP Photo/Manuel Balce Ceneta, File)

    Fed keeps key interest rate steady but sees fewer risks

    WASHINGTON (AP) — The Federal Reserve said Wednesday that near-term risks to the U.S. economy have diminished, reviving the prospect that it will resume raising interest rates as soon as September.

    Updated: 1:49 pm

  • Specialists Dilip Patel, left, and Glenn Carell work at a post on the floor of the New York Stock Exchange, Wednesday, July 27, 2016. The Federal Reserve is keeping interest rates unchanged while noting that near-term risks to the economy have diminished. (AP Photo/Richard Drew)

    US stock indexes slip; Apple jumps on strong earnings

    HONG KONG (AP) — Asian stock markets were mostly lower Thursday as investors digested an upbeat Fed assessment of the U.S. economy that raised the prospect of further rate hikes as they anticipate more stimulus from Japan.

    Updated: 9:41 pm

  • In this June 14, 2011 file photo, various prescription drugs on the automated pharmacy assembly line at Medco Health Solutions in Willingboro, N.J. A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense, government numbers show. The cost of Medicare’s “catastrophic” prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015, according to the program’s number-crunching Office of the Actuary.  (AP Photo/Matt Rourke, File)

    Senator: Is Medicare drug plan vulnerable to exploitation?

    WASHINGTON (AP) — A senior senator is examining whether Medicare’s prescription drug benefit is vulnerable to manipulation by pharmaceutical companies that set very high prices for medications.

  • In this Wednesday, June 22, 2016, file photo, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, before the House Financial Services Committee hearing on U.S. monetary policy. The Federal Reserve releases its latest monetary policy statement Wednesday, July 27, after wrapping up a two-day meeting. (AP Photo/Manuel Balce Ceneta, File)

    As Fed ends meeting, few expect much clarity on next hike

    WASHINGTON (AP) — With consumers spending and employers hiring more freely, the U.S. economy has fared better of late. But when the Federal Reserve ends its latest policy meeting Wednesday, most analysts think it will signal that it wants to see further gains before raising interest rates again.

  • New Mexico reaches settlement in Bill Richardson-era deal

    SANTA FE, N.M. (AP) — New Mexico will collect $4.9 million under a settlement agreement with a real estate investment company as the state resolves losses from a string of politically influenced investment deals dating back to the administration of former Gov. Bill Richardson.

  • In this Wednesday, June 29, 2016 file photo, Italian Prime Minister Matteo Renzi speaks during an EU summit in Brussels. About a month on from Britain’s vote to leave the European Union, there’s little evidence that economic activity across the continent has been derailed yet. That’s some reassurance for the 19-country eurozone as it faces a host of other problems, many of which relate to Italy, the bloc’s third-largest economy. The Brexit vote has raised the stakes in Italian Premier Matteo Renzi’s upcoming referendum on a raft of changes designed to streamline the country’s political system. (AP Photo/Geert Vanden Wijngaert, file)

    Italian banks in focus as Europe shrugs off Brexit _ for now

    MILAN (AP) — About a month on from Britain’s vote to leave the European Union, there’s little evidence that economic activity across the continent has been derailed yet.

  • People cross a street in front of an electronic stock indicator of a securities firm in Tokyo, Tuesday, July 26, 2016. Chinese stocks gained Tuesday but other Asian markets fell after Wall Street declined on losses for energy stocks. (AP Photo/Shizuo Kambayashi)

    Stocks slightly higher as investors monitor company earnings

    SEOUL, South Korea (AP) — Asian stocks were mixed on Wednesday ahead of the Federal Reserve’s policy statement, as strong U.S. economic data raised questions over the likely course for interest rates.

  • This July 16, 2013, file photo, shows a Wall Street street sign outside the New York Stock Exchange. Stocks were pulling back in early trading Monday, July 25, 2016, following four weeks of gains for the market, as busy investors work through another batch of corporate earnings and wait for the week’s Federal Reserve interest rate decision. Yahoo fell after Verizon Communications announced it would buy most of Yahoo’s internet businesses for $4.83 billion. (AP Photo/Mark Lennihan, File)

    Stocks fall; investors look ahead to central bank meetings

    BEIJING (AP) — Chinese stocks gained Tuesday but other Asian markets fell after Wall Street declined on losses for energy stocks.

  • In this June 14, 2011 file photo, various prescription drugs on the automated pharmacy assembly line at Medco Health Solutions in Willingboro, N.J. A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense, government numbers show. The cost of Medicare’s “catastrophic” prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015, according to the program’s number-crunching Office of the Actuary.  (AP Photo/Matt Rourke, File)

    AP Exclusive: Pricey drugs overwhelm Medicare safeguard

    WASHINGTON (AP) — A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense, government numbers show.

  • In this June 14, 2011 file photo, various prescription drugs on the automated pharmacy assembly line at Medco Health Solutions in Willingboro, N.J. A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense, government numbers show. The cost of Medicare’s “catastrophic” prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015, according to the program’s number-crunching Office of the Actuary.  (AP Photo/Matt Rourke, File)

    AP Exclusive: Medicare safeguard overwhelmed by pricey drugs

    WASHINGTON (AP) — A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense, government numbers show.