inflation

Inflation drops sharply to 3 percent, lowest point in more than 2 years

By Christopher Rugaber, Associated Press

The inflation figure the government reported Wednesday was down sharply from a 4 percent annual rate in May, though still above the Fed's 2 percent target rate.

WATCH: White House national security adviser says U.S. is pressing for the release of reporter who has spent 100 days in Russian jail

By Aamer Madhani, Associated Press

The Kremlin earlier this week suggested that it was open to a possible prisoner exchange that could involve Gershkovich, but it underscored that such talks must be held out of the public eye.

U.S. adds 209,000 jobs in June, a slowing in hiring but a sign of economy’s resilience

By Christopher S. Rugaber, Associated Press

WASHINGTON (AP) — America's employers pulled back on hiring but still delivered another month of solid gains in June, adding 209,000 jobs, a sign that the economy's resilience is confounding the Federal Reserve's drive to slow growth and inflation. The…

U.S. job openings dip to 9.8 million but remain high, showing resilience in labor market

By Paul Wiseman, Associated Press

The Labor Department said employers posted 9.8 million job vacancies, down from 10.3 million in April. But layoffs fell slightly, and more people quit their jobs — a sign they were confident they could find better jobs elsewhere.

A Federal Reserve inflation index falls to lowest level in 2 years

By Christopher Rugaber, Associated Press

At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April.

Why Biden is eager to run on the economy, while voters still have their doubts about ‘Bidenomics’

By Josh Boak, Associated Press

For President Joe Biden, there's a happy confluence of the coming 2024 reelection campaign and a favorable turn in recent economic data.

WATCH: Fed Chair Jerome Powell reinforces likelihood of more rate hikes

By Matt Ott, Associated Press

Chair Jerome Powell reiterated Thursday that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economy's service sector and the surprisingly tight job market.

Fed keeps rates unchanged for first time in 15 months but signals 2 more potential hikes this year

By Christopher Rugaber, Associated Press

The Fed's move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it's engineered have made some progress in taming inflation.

WATCH: White House holds briefing as of Fed considers possible interest rate hike

By Associated Press

White House press secretary Karine Jean-Pierre held a news briefing on Wednesday as the Federal Reserve announces the decision to keep its key interest rate unchanged Wednesday after having raised it 10 straight times to combat high inflation.

WATCH: Fed Chair Powell announces interest rates will remain unchanged as inflation eases

By Christopher Rugaber, Associated Press

The Fed’s move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation.