Jul 11 Cooling inflation may pave way for interest rate cut soon By Christopher Rugaber, Associated Press Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve. Continue reading
Jul 10 Federal regulators fine Citigroup $136 million for taking too long to fix internal control issues By Ken Sweet, Associated Press The fines come from the Federal Reserve and the Office of the Comptroller of the Currency, which said in separate releases that Citigroup had failed to meet its obligations stemming from a 2020 consent order related to the bank's risk… Continue reading
Jul 09 WATCH: Slowing job market signals interest rate cuts may be near, Powell tells Senate committee By Christopher Rugaber, Associated Press The Fed has made "considerable progress" toward its goal of defeating the worst inflation spike in four decades, Powell told the Senate Banking Committee. Continue reading
Jul 02 U.S. inflation slowing again, but Fed Chair Powell warns it isn’t yet time to cut rates By Christopher Rugaber, Associated Press Speaking in a panel discussion at a monetary policy conference in Sintra, Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high… Continue reading
Jun 28 Price pressures easing further according to the Federal Reserve’s preferred inflation gauge By Paul Wiseman, Associated Press The latest figures will likely be welcomed by the Fed’s policymakers, who have said they need to feel confident inflation is slowing sustainably toward their 2% target before they’d start cutting interest rates. Continue reading
Jun 12 WATCH: Powell speaks after Federal Reserve signals only one likely interest rate cut this year By Christopher Rugaber, Associated Press “We’ll need to see more good data to bolster our confidence that inflation is moving sustainably toward 2 percent,” Chair Jerome Powell said at a news conference. Continue reading
Jun 10 Inflation data this week could help determine Fed’s plan for possible interest rate cuts By Christopher Rugaber, Associated Press Chair Jerome Powell will likely reiterate that Fed officials need further confidence that inflation is returning to 2% before they would consider rate cuts. Continue reading
May 31 A closely tracked inflation gauge rises at slowest pace this year By Christopher Rugaber, Associated Press A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year. Continue reading
May 29 Inflation pressures lingering from pandemic may keep Feds from lowering interest rates By Christopher Rugaber, Associated Press Though Fed officials say they expect inflation in key areas to eventually cool, they've signaled that they're prepared to wait as long as it takes. Continue reading
May 15 U.S. inflation ticked down slightly last month in the first drop of 2024 By Christopher Rugaber, Associated Press A measure of underlying inflation, which excludes volatile food and energy costs, also eased in April. Continue reading