However, the U.S. government said the surprising claims drop is linked to computer-related delays.
Without question, the financial crisis exacted a large personal and national cost.
What's more, July's job growth was revised substantially downward - the exact opposite of what's needed for Fed stimulus reduction.
The Fed said the U.S. economy continued to grow at a modest/moderate pace in July and August, as it has for much of 2013.
As summer begins to fade, the U.S. economy stands at something of a crossroads. Will rising risks change the Fed's thinking?
The Fed said economic data since the July meeting has been mixed and inflation is still running below its 2 percent target.
The FOMC minutes from the Federal Reserve’s July 30-31 policy meeting are scheduled for release on Wednesday at 2 p.m. EST.
The five-year crunch may have ended, but consumers still aren't able to get loans. So where is the Fed's quantitative easing going?
The comings and goings of the Federal Open Market Committee could confuse markets about the direction of Fed policy.
IBTimes Money Editor Mike Obel discusses the background and history of the Federal Reserve’s quantitative easing (QE) program and whether the central bank will announce it will taper its stimulus measures after the Federal Open Market Committee’s (FOMC) September 17-18 meeting.
Atlanta Fed President Lockhart said Tuesday even with a taper's start, interest rates will remain low for some time.
Also, the Fed said Wednesday that its outlook on the nation's economy was slightly less optimistic than a few months ago.
In the past, Summers has argued that tax and spending policy are more important to economic growth than monetary policy.
Friday's U.S. employment report will show continued steady job creation, leaving the Fed on track for before year-end tapering.
All eyes are on the Federal Reserve and Ben Bernanke this week, as the FOMC meets for its two-day policy meeting beginning on Tuesday.
A judge rejected the U.S. government's effort not to depose the Fed chair, saying he was a "central figure" in the AIG bailout decision.
Eight times a year, the Fed releases its Beige Book, a snapshot of business conditions in the Fed’s 12 regional bank districts.
The Fed chairman underscored that the stimulus reduction is "by no means on a preset course."
The mining and manufacturing sectors pushed U.S. industrial production ahead in June and capacity utilization also advanced.
U.S. stocks were little changed on Wednesday, ahead of the release of the latest minutes from the Federal Reserve's June FOMC meeting.
Investors will eye the Fed’s minutes for any clues as to when the central bank will begin to scale back its $85 billion-per-month quantitative easing program.
A “status quo” jobs report reflecting continued labor market healing will probably nudge the Fed toward tapering.