Dec 15 Congressional Budget Office projects lower inflation and higher unemployment into 2025 By Fatima Hussein, Associated Press The office's Current View of the Economy from 2023 to 2025 report, released Friday, estimates that the unemployment rate will hit 4.4 percent in the fourth quarter of 2024 and remain close to that level through 2025. Continue reading
Dec 13 Dow hits a record after the Fed signals rate cuts in 2024 By Stan Choe, Associated Press A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year. Continue reading
Dec 13 Watch 5:32 Interest rates remain unchanged, but Federal Reserve signals cuts coming in 2024 By Stephanie Sy, Shoshana Dubnow The Federal Reserve opted to leave interest rates unchanged, but Fed Chairman Jerome Powell suggested there may be as many as three rate cuts next year. Powell said rate hikes appear to be over for now and the economy is… Continue watching
Dec 11 Speculation about eventual rate cuts is rising, but Fed is set to leave interest rates unchanged By Christopher Rugaber, Associated Press With inflation edging closer to the Federal Reserve's 2 percent target, its policymakers are facing — and in some cases fueling — hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as… Continue reading
Nov 29 U.S. economic growth for last quarter is revised up to a 5.2 percent annual rate By Paul Wiseman, Associated Press Shrugging off higher interest rates, America's consumers spent enough to help drive the economy to a brisk 5.2 percent annual pace from July through September, the government said in an upgrade from its previous estimate. Continue reading
Nov 27 Consumers projected to spend around $12 billion on Cyber Monday By Haleluya Hadero, Associated Press Consumer spending for Cyber Week - the five days between Thanksgiving and Monday - provides a strong indication on how much shoppers are willing to spend during the holidays. Continue reading
Nov 27 WATCH: Biden says he's helped lower inflation during the first meeting of his new supply chain council By Josh Boak, Associated Press President Joe Biden on Monday opened the first meeting of his supply chain resilience council by warning companies against price gouging and saying that his administration was working to lower costs for U.S. families. Continue reading
Nov 22 Watch 7:01 More American families rely on food banks as high prices squeeze budgets By Fred de Sam Lazaro, Sam Lane, Christine Romo, Sam Weber There's been some good news of late when it comes to inflation. Data from the federal government last week showed inflation eased through October. And according to the Farm Bureau, the average cost of a Thanksgiving dinner actually decreased slightly… Continue watching
Nov 20 Why economists say falling inflation isn't enough to relieve stress about the U.S. economy By Christopher Rugaber, Associated Press Most Americans hold a glum view of the economy despite inflation reaching its lowest point in over two years. Many factors lie behind the disconnect, but economists increasingly point to one in particular: The lingering financial and psychological effects of… Continue reading
Nov 14 U.S. inflation cooled in October, driven lower by cheaper gas, cars and airfares By Christopher Rugaber, Associated Press Tuesday's report from the Labor Department showed that prices either fell or rose only slowly across a broad range of goods and services, including gas, new and used cars, hotel rooms and housing. Continue reading