Economy Aug 01 U.S. credit rating cut to AA+ by Fitch, citing debt and political divisions Fitch cited the worsening political polarization around spending and tax policy as a key reason for the downgrade.
Economy Jul 28 An inflation gauge closely tracked by the Fed falls to lowest level in 2 years A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs.
Economy Jul 27 How a ‘rolling recession’ or a ‘richcession’ could spare the rest of the economy from a downturn The latest snapshot of the economy coincides with rising sentiment that it may achieve an elusive "soft landing." Analysts point to two trends that might help stave off an economic contraction.
Politics Jul 26 WATCH: Powell announces 11th key interest rate raise in drive to slow inflation Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing.
Politics Jul 24 Federal Reserve officials meet as central bank aims for ‘soft landing’ After the Fed began aggressively raising borrowing costs early last year, most economists predicted it would send the economy crashing. Yet even though the Fed is poised to raise its key rate on Wednesday for the 11th time since March…
Economy Jul 12 Inflation drops sharply to 3 percent, lowest point in more than 2 years The inflation figure the government reported Wednesday was down sharply from a 4 percent annual rate in May, though still above the Fed's 2 percent target rate.
Economy Jun 30 A Federal Reserve inflation index falls to lowest level in 2 years At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April.
Politics Jun 21 WATCH: Fed Chair Powell testifies on inflation and interest rates before House committee “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go,” Powell said on the first of two days of semi-annual testimony on Capitol Hill.
Economy Jun 14 Fed keeps rates unchanged for first time in 15 months but signals 2 more potential hikes this year The Fed's move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it's engineered have made some progress in taming inflation.
Politics Jun 14 WATCH: Fed Chair Powell announces interest rates will remain unchanged as inflation eases The Fed’s move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.