May 13 Are U.S. interest rates high enough to beat inflation? The Fed will take its time to find out By Christopher Rugaber, Associated Press The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this… Continue reading
May 10 U.S. consumer sentiment drops to 6-month low on inflation, unemployment fears By Christopher Rugaber, Associated Press Consumer sentiment fell sharply in May to the lowest level in six months as Americans cited concerns about stubbornly high inflation and interest rates and fears that unemployment could rise. Continue reading
May 03 U.S. economy adds 175,000 jobs in April but sees a rise in unemployment By Paul Wiseman, Associated Press The nation's employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Continue reading
Apr 26 One measure of inflation reinforces Federal Reserve's reluctance to cut interest rates By Christopher Rugaber, Associated Press Friday's report from the government showed that prices rose 0.3 percent from February to March, the same as in the previous month. Continue reading
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