Sep 25 Why the job market has weathered rising interest rates, grim economic forecasts By Christopher Rugaber, Associated Press Inflation has tumbled from its peak of 9.1% in June 2022 to 3.7% on the back of the Fed’s rate hikes. Yet the unemployment rate, at a still-low 3.8%, has scarcely budged. Continue reading
Sep 20 WATCH: Federal Reserve keeps rates unchanged but signals likelihood of another hike this year By Christopher Rugaber, Associated Press Besides forecasting another hike by year’s end, Fed officials now envision keeping rates high deep into 2024. They expect to cut interest rates just twice next year, fewer than the four rate cuts they had predicted in June. Continue reading
Aug 31 Important inflation tracker shows small increase in sign of slowing prices By Christopher Rugaber, Associated Press An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September. Continue reading
Aug 25 Powell warns strong economy could lead to new interest rate hikes By Christopher Rugaber, Associated Press The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Continue reading
Aug 10 U.S. inflation ticks up for the first time in a year to 3.2 percent rate, but core inflation remains low By Paul Wiseman, Associated Press The July inflation figure remained far below last year's peak of 9.1 percent, though still above the Federal Reserve's 2 percent target. Continue reading
Jul 28 An inflation gauge closely tracked by the Fed falls to lowest level in 2 years By Christopher Rugaber, Associated Press A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs. Continue reading
Jul 26 Watch 5:32 How the Federal Reserve uses higher interest rates to tame inflation By William Brangham, Diane Lincoln Estes Interest rates are headed higher again, as the Federal Reserve resumes its fight with inflation. That effort is almost a year and a half old now. At the same time, Fed Chair Jay Powell wants to tame inflation without tipping… Continue watching
Jul 26 WATCH: Powell announces 11th key interest rate raise in drive to slow inflation By Christopher Rugaber, Associated Press Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing. Continue reading
Jul 24 Federal Reserve officials meet as central bank aims for ‘soft landing’ By Christopher Rugaber, Associated Press After the Fed began aggressively raising borrowing costs early last year, most economists predicted it would send the economy crashing. Yet even though the Fed is poised to raise its key rate on Wednesday for the 11th time since March… Continue reading
Jul 07 U.S. adds 209,000 jobs in June, a slowing in hiring but a sign of economy’s resilience By Christopher S. Rugaber, Associated Press WASHINGTON (AP) — America's employers pulled back on hiring but still delivered another month of solid gains in June, adding 209,000 jobs, a sign that the economy's resilience is confounding the Federal Reserve's drive to slow growth and inflation. The… Continue reading