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
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