Apr 25 U.S. economic growth slows to 1.6 percent, sign that interest rates may be taking toll By Paul Wiseman, Associated Press The gross domestic product — the economy's total output of goods and services — decelerated from its brisk 3.4% growth rate in the final three months of 2023. Consumers continued to drive growth last quarter but slowed their spending. Continue reading
Apr 16 IMF says outlook for world economy is brighter but still modest by historical standards By Paul Wiseman, Associated Press The International Monetary Fund has upgraded its outlook for the global economy, saying the world appears headed for a "soft landing" — reining in inflation without much economic pain and producing steady if modest growth. Continue reading
Apr 16 Elevated inflation will likely delay interest rate cuts this year, warns Federal Reserve Chair Powell By Christopher Rugaber, Associated Press "Recent data have clearly not given us greater confidence" that inflation is coming fully under control and "instead indicate that it's likely to take longer than expected to achieve that confidence," Powell said during a panel discussion. Continue reading
Apr 10 Watch 6:06 Minneapolis Fed president on inflation uptick and when to cut interest rates By Geoff Bennett, Shoshana Dubnow Inflation came in higher than expected last month, raising concerns once again about its persistence. Some experts also worry that it could delay or prevent a series of interest rate cuts expected from the Federal Reserve later this year. Geoff… Continue watching
Apr 04 Number of Americans applying for jobless benefits ticks up, but layoffs remain low By Matt Ott, Associated Press Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week. Continue reading
Apr 03 Powell says the Federal Reserve still sees rate cuts this year; election timing won’t affect decision By Christopher Rugaber, Associated Press Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February. Continue reading
Mar 29 Powell says the Federal Reserve wants to see ‘more good inflation readings’ before it can cut rates By Paul Wiseman, Associated Press Forecasters had expected higher rates to send the United States tumbling into recession. Instead, the economy just kept growing — expanding at an annual rate of 2 percent or more for six straight quarters. Continue reading
Mar 20 WATCH: Federal Reserve’s Powell holds briefing after interest rate meeting as inflation slows By Christopher Rugaber, Associated Press In new quarterly projections they issued, the policymakers forecast that stronger growth and inflation above their 2 percent target level would persist into next year. As a result, they suggested that interest rates would have to stay slightly higher for… Continue reading
Mar 12 U.S. inflation ticks up in February, signaling ongoing price challenges By Christopher Rugaber, Associated Press The prices of some goods, from appliances to furniture to used cars, are actually falling after clogged supply chains during the pandemic had sent prices soaring higher. Continue reading
Mar 08 Watch 7:48 Why many Americans feel unhappy about the economy despite indicators of improvement By Paul Solman, Diane Lincoln Estes Friday’s latest jobs report is proof again of a labor market that has been resilient and often stronger than expected. But according to numerous polls, many Americans don’t feel the economy is strong overall or helping them or their families. Continue watching