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
Nov 09 Powell reinforces the Federal Reserve’s cautious approach toward further interest rate hikes By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell suggested that the Fed is in no hurry to further raise its benchmark interest rate, given evidence that inflation pressures are continuing to ease at a gradual pace. Continue reading
Nov 01 Watch 4:50 News Wrap: Donald Trump Jr. testifies in civil case against family’s real estate business In our news wrap Wednesday, Donald Trump Jr. testified in the civil fraud case against the family's real estate business, prosecutors in New York accused Sam Bankman-Fried of building a "pyramid of deceit" at FTX, the Federal Reserve is leaving… Continue watching
Nov 01 WATCH: Jerome Powell holds briefing after Fed leaves key interest rate unchanged By Christopher Rugaber, Associated Press At a news conference after the meeting, Chair Jerome Powell suggested that the Fed was edging ever closer to the end of its rate-hiking campaign. Continue reading
Oct 31 U.S. wages rose at a solid pace this summer, posing challenge for the Federal Reserve’s inflation fight By Christopher Rugaber, Associated Press Wages and benefits grew at a slightly faster pace in the July-September quarter than the previous three months, a benefit to workers that also represents a risk to the Federal Reserve's fight against inflation. Continue reading
Oct 30 How long can the surge in U.S. consumer spending last despite higher prices? By Christopher Rugaber, Anne D'Innocenzio, Associated Press A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that… Continue reading
Oct 19 Watch 3:20 News Wrap: Fed chair says economy may need to cool to bring inflation down In our news wrap Thursday, the chair of the Federal Reserve said inflation is still too high and the economy may have to cool off to bring it down further, the European Union pressed Meta and TikTok to explain what… Continue watching
Oct 19 U.S. may need slower economic growth to beat inflation, Fed chair says By Christopher S. Rugaber, Associated Press Federal Reserve Chair Jerome Powell said inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market. Continue reading
Oct 18 Watch 4:55 News Wrap: German police searching for assailants who tried to firebomb Berlin synagogue In our news wrap Wednesday, police in Germany are hunting the assailants who tried to firebomb a synagogue in Berlin, President Biden's nominee for ambassador to Israel pledged to ensure that Israel gets all it needs for defense, Vladimir Putin… Continue watching
Oct 12 September’s U.S. consumer inflation eased slightly as price pressures cool By Christopher Rugaber, Associated Press Still, on a month-to-month basis, prices are still rising faster than is consistent with the Fed’s 2 percent target. Continue reading