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
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