Jan 24 Inflation slows, incomes rise, and Americans are much more optimistic about the economy By Christopher Rugaber, Associated Press A survey by the Federal Reserve Bank of New York found that Americans' inflation expectations have reached their lowest point in nearly three years. Continue reading
Jan 11 Watch 6:34 How December’s inflation uptick complicates Federal Reserve’s plan to lower interest rates By Amna Nawaz, Shoshana Dubnow New data shows that inflation ran a little higher at the end of the year than expected but slowed down significantly in 2023. Consumers are still hesitant to embrace the economy's strength, a theme that was consistent throughout last year's… Continue watching
Jan 11 Energy and housing prices nudged U.S. inflation up, but many other costs rose only mildly By Paul Wiseman, Associated Press The persistence of still-elevated inflation helps explain why, despite steady economic growth, low unemployment and healthy hiring, polls show many Americans are dissatisfied with the economy. Continue reading
Dec 29 Watch 5:56 How the economy upended expectations of a recession in 2023 By Geoff Bennett, Shoshana Dubnow It was a year in which many experts got a lot of things wrong about the economy. Many economists believed the Fed's battle to tame inflation with interest rate hikes would trigger high unemployment and a recession. Instead, inflation was… Continue watching
Dec 13 Dow hits a record after the Fed signals rate cuts in 2024 By Stan Choe, Associated Press A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year. Continue reading
Dec 13 Watch 5:32 Interest rates remain unchanged, but Federal Reserve signals cuts coming in 2024 By Stephanie Sy, Shoshana Dubnow The Federal Reserve opted to leave interest rates unchanged, but Fed Chairman Jerome Powell suggested there may be as many as three rate cuts next year. Powell said rate hikes appear to be over for now and the economy is… Continue watching
Dec 13 Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year By Christopher Rugaber, Associated Press Those envisioned rate cuts — which wouldn't likely begin until the second half of 2024 — suggest that the officials think high borrowing rates will still be needed for much of next year to further slow spending and inflation. Continue reading
Dec 13 WATCH: Federal Reserve Chair Jerome Powell holds news briefing following interest rate meeting By Christopher Rugaber, Associated Press The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year. Continue reading
Dec 11 Speculation about eventual rate cuts is rising, but Fed is set to leave interest rates unchanged By Christopher Rugaber, Associated Press With inflation edging closer to the Federal Reserve's 2 percent target, its policymakers are facing — and in some cases fueling — hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as… Continue reading
Nov 14 U.S. inflation cooled in October, driven lower by cheaper gas, cars and airfares By Christopher Rugaber, Associated Press Tuesday's report from the Labor Department showed that prices either fell or rose only slowly across a broad range of goods and services, including gas, new and used cars, hotel rooms and housing. Continue reading