Aug 23 ‘The time has come’ for the Federal Reserve to soon begin reducing interest rates, Powell says By Christopher Rugaber, Associated Press Powell did not say when rate cuts would begin or how large they might be, but the Fed is widely expected to announce a modest quarter-point cut in its benchmark rate when it meets in mid-September. Continue reading
Aug 21 Most Federal Reserve officials favor rate cut in September if inflation cools, minutes reveal By Christopher Rugaber, Associated Press The minutes of the Fed's July 30-31 meeting indicate that the "vast majority" of policymakers "observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting."… Continue reading
Aug 21 U.S. economy added 818,000 fewer jobs than first reported, sign job market has been slowing By Associated Press The Labor Department estimated that job growth averaged 174,000 a month in the year that ended in March — a drop of 68,000 a month from the 242,000 that were initially reported. The revisions released Wednesday were preliminary, with final… Continue reading
Aug 16 Watch 9:00 Harris unveils economic agenda to combat soaring grocery and housing prices By Amna Nawaz, Kyle Midura, Jonah Anderson In her first major policy speech since becoming the Democratic presidential candidate, Vice President Kamala Harris laid out her vision for combatting rising prices, one of the biggest issues for voters in this year's election and one that's dogged the… Continue watching
Aug 16 U.S. consumer sentiment rises this month amid optimism over Harris’ presidential bid By Paul Wiseman, Associated Press Americans’ expectations for the future rose, while their assessment of current economic conditions sank slightly. Democrats’ sentiment rose, and Republicans’ fell. Continue reading
Aug 15 Wall Street rallies to one of its best days of the year By Stan Choe, Associated Press The S&P 500 jumped 1.6% for its fourth-best day of the year and its sixth straight gain as the U.S. stock market rights itself following a scary few weeks. Continue reading
Aug 15 Americans spent more at retailers in July despite higher prices By Christopher Rugaber, Anne D'Innocenzio, Associated Press Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates. Continue reading
Aug 14 Year-over-year inflation hits lowest level in three years, clearing way for Fed to begin cutting rates By Christopher Rugaber, Associated Press Measured from a year earlier, prices rose 2.9%, down from 3% in June. It was the mildest year-over-year inflation figure since March 2021. Continue reading
Aug 12 Americans are refusing to pay high prices. That might deal the final blow to inflation By Christopher Rugaber, Associated Press The economy appears to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices much without losing business. Continue reading
Aug 06 Wall Street steadies after worst day in nearly 2 years, economic fears and finance structures blamed By Stan Choe, Associated Press Several factors have been behind the recent swoon for markets, including fears about a slowing U.S. economy. Some technical reasons may also be accelerating movements for markets worldwide. Continue reading