Mar 24 Chances of Fed cutting interest rates fade as inflation worsens By Christopher Rugaber, Associated Press With inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading. Continue reading
Mar 19 Justice Department probe of Powell could backfire on Trump and keep Fed chair in office By Christopher Rugaber, Associated Press President Donald Trump has for months wanted to remove Jerome Powell as chair of the Federal Reserve. But instead, an investigation by one of his own officials could end up extending Powell's time at the top of the central bank even after his term… Continue reading
Mar 18 U.S. stocks sink on worries about inflation as gold falls below $5,000 per ounce By Stan Choe, Associated Press U.S. stocks are sinking Wednesday after a report said inflation was primed to worsen even before oil prices began spiking because of the war with Iran. Continue reading
Mar 18 WATCH: Fed Chair Powell holds news briefing after interest rate left unchanged By Christopher Rugaber, Associated Press Federal Reserve officials expect the Iran war will worsen inflation this year while having little impact on growth, but they still expect to cut their key rate once in 2026. Continue reading
Mar 13 WATCH: Pirro blasts judge blocking Justice Department subpoenas to Federal Reserve in Powell probe By Christopher Rugaber, Associated Press A federal judge on Friday quashed Justice Department subpoenas issued to the Federal Reserve in January, a severe blow to an investigation that has already attracted strong criticism on Capitol Hill. Continue reading
Mar 11 Inflation held steady last month before attack on Iran sent energy costs soaring By Christopher Rugaber, Anne D'Innocenzio, Associated Press Wednesday’s data has been overtaken by the conflict that began when the U.S. and Israel attacked Iran on Feb. 28, which has caused wild gyrations in oil prices as shipping lanes through the Persian Gulf have suffered a rare shutdown. Continue reading
Mar 04 White House formally nominates Kevin Warsh to be next Federal Reserve chair By Christopher Rugaber, Associated Press Warsh's nomination, which was initially announced Jan. 30, was forwarded to the Senate Wednesday, where it will be taken up by the Senate Banking Committee. Continue reading
Feb 20 Inflation rose faster than expected in December By Christopher Rugaber, Associated Press The figures show that inflation remains elevated, even as it has come down from a peak near 7% in 2022. Continue reading
Feb 13 Inflation measure falls to nearly five-year low as gas prices fall and housing costs cool By Christopher Rugaber, Associated Press Friday's report suggests inflation could be cooling, but it comes after the cost of food, gas, and apartment rents have soared since the pandemic. Continue reading
Feb 05 WATCH: Bessent tells Senate panel it would be president's choice of whether to sue fed chair over interest rates By Fatima Hussein, Christopher Rugaber, Associated Press Treasury Secretary Scott Bessent said Thursday it would be “up to the president” to decide whether or not to sue Kevin Warsh, Donald Trump's nominee to lead the Federal Reserve, if he fails to lower interest rates. Continue reading