Aug 05 Dow drops 1000 points, worst fall since 2022, amid global rout By Stan Choe, Associated Press Wall Street fell the most in nearly two years, continuing a global rout in financial markets, as fear worsens that the U.S. economy is slowing down. Continue reading
Jul 31 WATCH: Fed Chair Powell holds news briefing as first interest rate cut in four years ‘getting closer’ By Christopher Rugaber, Associated Press At a news conference Wednesday, Fed Chair Jerome Powell said that if inflation continued to cool, "a rate cut could be on the table in the September meeting.”… Continue reading
Jul 31 A sign inflation may keep cooling: Paychecks grew more slowly this spring By Christopher Rugaber, Associated Press Higher wages and benefits are good for employees, but slower pay growth will likely reassure Fed officials that inflation is steadily falling back to their 2 percent target. Continue reading
Jul 27 Watch 6:25 As more retailers embrace digital price tags on shelves, how will they be used? By Ali Rogin, Andrew Corkery Traditional price tags at grocery stores may soon be on their way out, in favor of what are being called digital or electronic shelf labels that can be updated remotely. Consumer advocates worry this technology can lead to surge pricing… Continue watching
Jul 26 Federal Reserve’s favored inflation gauge cools, increasing likelihood of September rate cut By Christopher Rugaber, Associated Press Prices rose just 0.1% from May to June, up from the previous month's unchanged reading. Compared with a year earlier, inflation declined to 2.5% from 2.6%. Continue reading
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 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 05 U.S. employers add 206,000 jobs in June, sign of economic stability despite interest rates By Paul Wiseman, Associated Press Friday's report from the Labor Department also showed that the unemployment rate ticked up from 4% to a still-low 4.1%. And the department sharply revised down its estimate of job growth for April and May by a combined 111,000. 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