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
Oct 11 Wholesale inflation in U.S. rose 2.2 percent in September, biggest year-over-year gain since April By Paul Wiseman, Associated Press U.S. wholesale prices rose last month at the fastest pace since April, suggesting that inflationary pressures remain despite a year and a half of higher interest rates. Continue reading
Oct 09 2 Federal Reserve officials say spike in bond yields may allow central bank to leave rates alone By Christopher Rugaber, Associated Press That's because a surge in long-term interest rates has made borrowing more expensive and could help cool inflation without further action by the central bank. Continue reading
Sep 29 Higher gas prices lift Fed's preferred inflation gauge but underlying price pressures remain mild By Christopher Rugaber, Associated Press An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating. Continue reading
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