Jun 24 ‘Supply crunch has led to an affordability crunch.’ Yellen announces efforts to help with increased housing costs By Fatima Hussein, Associated Press The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years. Continue reading
Jun 18 High inflation curbs spending as retail sales rise a meager 0.1% in May By Anne D'Innocenzio, Associated Press Retail sales rose 0.1% in May, below the pace that economists projected, according to the Commerce Department. Continue reading
Jun 12 Watch 8:32 How expensive parts on modern cars have driven up repair and insurance costs By Paul Solman, Ryan Connelly Holmes The inflation report finally contained some good news about auto insurance premiums. They've been rising for months and are one part of why inflation has had such a bite. While they finally dipped just a bit, they remain much higher… Continue watching
Jun 12 Inflation eases for 2nd straight month, a sign this year’s acceleration of prices may have passed By Christopher Rugaber, Associated Press Inflation in the United States eased in May, a hopeful sign that an acceleration of prices that occurred early this year may have passed. 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
Jun 07 U.S. employment picks up pace with 272,000 jobs added in May, sign of sustained economic health By Christopher Rugaber, Associated Press Last month's strong job growth reflected the durability of America's consumer-driven economy. With the nation's households continuing their steady spending, many employers have had to keep hiring to meet their customer demand. 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 27 How inflation-weary shoppers can find summer deals at major retailers By Anne D'Innocenzio, Associated Press The reductions, which mostly involve groceries, are getting introduced as inflation showed its first sign of easing this year but not enough for consumers who are struggling to pay for basic necessities. Continue reading