Jul 15 U.S. inflation accelerated last month to 2.7%, highest level since February By Christopher Rugaber, Associated Press On a monthly basis, prices climbed 0.3% from May to June, after rising just 0.1% the previous month. Continue reading
Jul 01 Powell sticks to 'wait and see' approach as Trump ramps up criticism By Christopher Rugaber, Associated Press Powell repeated his view Tuesday that U.S. inflation is likely to pick up later this summer, though he acknowledged that the timing and magnitude of any price increase from the duties is uncertain. Continue reading
Jun 25 WATCH: Fed Chair Powell returns to Capitol Hill to testify in Senate Banking hearing By Chris Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump's sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties. Continue reading
Jun 24 WATCH: Fed Chair Powell says interest rate cut can wait in testimony before House committee By Chris Rugaber, Associated Press “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” Jerome Powell said in testimony Tuesday before the House Financial Services Committee. Continue reading
Jun 18 Watch 5:24 News Wrap: Fed leaves interest rates unchanged while signaling future cuts In our news wrap Wednesday, the U.S. Federal Reserve left interest rates unchanged for the fourth-straight time while officials indicated they expect to cut rates twice by the end of the year, the Supreme Court is reviving plans to store… Continue watching
Jun 18 WATCH: Powell holds news briefing as Fed keeps its key rate unchanged By Christopher Rugaber, Associated Press Federal Reserve officials expect inflation to worsen in the coming months but they still foresee two interest rate cuts by the end of this year, the same as they projected in March. Continue reading
Jun 17 Fed officials left in 'uncomfortable purgatory' as tariffs complicate this week's rate decision By Christopher Rugaber, Associated Press With the outlook uncertain, Fed policymakers are expected to keep their key interest rate unchanged on Wednesday at about 4.4%. Continue reading
Jun 11 U.S. inflation rose slightly last month as grocery prices ticked higher By Anne D'Innocenzio and Christopher Rugaber, Associated Press The figures suggest inflation remains stubbornly above the Federal Reserve's 2% target, which makes it less likely that the central bank will cut its key short-term interest rate. Continue reading
Jun 02 WATCH: Powell delivers remarks as Trump pushes budget that could add $5.1 trillion in debt By Associated Press President Donald Trump faces the challenge of convincing Republican senators, global investors, voters and even Elon Musk that he won’t bury the federal government in debt with his multitrillion-dollar tax breaks package. Continue reading
May 21 Trump's tariffs will test U.S. allies at G7 finance ministers' summit By Christopher S. Rugaber, Associated Press The annual meetings of the Group of 7 finance ministers, known as the G7, are typically congenial and in previous years have produced joint commitments to combat inflation and counter the COVID pandemic. There may be less agreement this year. Continue reading