Oct 03 Wall Street soars to best day since summer By Damian J. Troise, Stan Choe, Associated Press The S&P 500 rose 2.6 percent Monday, the latest swing for a scattershot market that's been mostly falling this year on worries about a possible global recession. Continue reading
Sep 22 Federal Reserve Chair Jerome Powell says inflation fight may cause a recession By Christopher Rugaber, Associated Press The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Continue reading
Sep 21 WATCH: Fed raises key interest rate by three-quarters of a point By Christopher Rugaber, Associated Press The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3 percent to 3.25 percent, the highest level since early 2008. Continue reading
Sep 19 Interest rates likely to increase as Fed signals more hikes ahead By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed's drive to curb inflation by aggressively raising interest rates would "bring some pain."… Continue reading
Sep 16 Treasury recommends exploring creation of a digital dollar by central bank By Fatima Hussein, Associated Press The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar. Continue reading
Sep 13 U.S. inflation ticks down slightly, but stays stubbornly high By Christopher Rugaber, Associated Press Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households. Continue reading
Aug 30 Job openings rose in July, dashing Federal Reserve hopes for cooling By Christopher Rugaber, Associated Press The number of open jobs in the United States rose in July after three months of declines, a sign that employers are still urgently seeking workers despite slowing economic growth and high inflation. Continue reading
Aug 26 Watch 6:46 Why the Fed plans to keep aggressively fighting inflation even if it leads to job loss By William Brangham Federal Reserve Chair Jerome Powell delivered a stark message Friday on inflation, warning that more interest rate hikes are coming and they're going to take a toll. Those statements came during the Fed's annual economic symposium in Jackson Hole, Wyoming. Continue watching
Aug 11 U.S. wholesale inflation fell in July for first time in 2 years By Christopher Rugaber, Associated Press Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy's inflationary pressures cooled last month. Continue reading
Jul 27 Watch 6:48 Federal Reserve raises interest rates amid stubbornly high prices and recession concerns By Paul Solman, Tommy Walters, Ryan Connelly Holmes The Federal Reserve raised interest rates significantly again Wednesday in a bid to put the brakes on inflation. The economy is no longer running nearly as hot as it did last year, but Fed Chair Jerome Powell said it was… Continue watching