Economy Apr 29 A key inflation gauge jumped 6.6 percent in March, possibly nearing a peak An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the…
Politics Apr 28 U.S. economy shrinks first time in two years but consumer and business spending strong The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4 percent annual rate, but consumers and businesses kept spending in a sign of underlying resilience.
Politics Apr 28 WATCH: Senate debates bill to help build domestic technology supply chains amid shrinking economy The debate comes amidst news that the U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates.
Economy Apr 06 Federal Reserve signals more aggressive steps to fight inflation Federal Reserve officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses.
Economy Mar 29 Labor Department says U.S. job openings remain at historic highs Job openings stayed at a near-record level in February, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
Economy Mar 21 Powell says the Federal Reserve will hike further and faster if necessary His remarks caused a sharp drop in the stock market with its implication that potentially much higher rates could be on the way for mortgages, auto loans, credit cards and other consumer and business borrowing.
Economy Mar 16 How will higher interest rates affect American finances? Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on a period of rate hikes to fight inflation.
Economy Mar 16 WATCH: Federal Reserve chair Powell gives update on federal interest rate policy The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Politics Mar 15 Federal Reserve pick Sarah Bloom Raskin withdraws nomination amid opposition Republicans argued that Raskin would use the Fed's regulatory authority to discourage banks from lending to oil and gas companies.
Politics Mar 10 U.S. inflation hits new 40-year high, jumping 7.9 percent over past year Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9 percent over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.