Economy Jul 13 U.S. inflation at 9.1 percent, a record high Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to…
Economy Jul 06 Federal Reserve signals further hikes in interest rates to ‘restrictive’ levels Federal Reserve officials were concerned at their meeting last month that consumers were starting to anticipate higher inflation, and they signaled that much higher interest rates could be needed to restrain it.
Economy Jun 15 WATCH: Federal Reserve Chair Powell gives news briefing following interest rate hike The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come…
Economy Jun 10 Cost of necessities rose in May, leaving U.S. with new 40-year high in inflation The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
Economy Jun 03 WATCH: Biden hails ‘historically robust’ May jobs report as hiring remains strong President Joe Biden hailed the May jobs report numbers Friday, calling them "historically robust" and saying they are one of the signs of a "healthy economy."…
Economy Jun 01 U.S. job openings remain high, with nearly twice as many openings as unemployed people The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people.
Politics May 31 WATCH: Biden meets with Federal Reserve Chair Powell amid inflation worries Biden hoped the meeting on Tuesday would demonstrate his concern to voters, though he insisted anew the White House will not interfere with the independent central bank's work.
Nation May 27 Key measure of inflation slows for the first time in months, offering hope that high prices may start to fall While high inflation is still causing hardships for millions of households, any slowing of price increases, if it can be sustained, will provide some modest relief.
Economy May 25 Fed officials signal rates may head to ‘restrictive’ levels to stabilize economy Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high.
Politics May 12 Senate confirms Jerome Powell for second term as Fed Chair The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades.