Jan 17 Yellen says current U.S. economic growth 'vindicates' Biden's COVID-19 pandemic stimulus spending By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen is making an election-year pitch that the current state of the economy "vindicates" Democrats' decision to pass a $1.9 trillion coronavirus pandemic response package back in 2021. Continue reading
Jan 17 Retail sales were up 0.6 percent this holiday season, fueled by a strong job market By Anne D'Innocenzio, Associated Press While consumers continue to face higher borrowing costs and prices, spending is being fueled by a strong job market and rising wages. Continue reading
Jan 12 Wholesale inflation in U.S. declined last month, signaling that price pressures are still easing By Paul Wiseman, Associated Press Friday's wholesale figures, which were all lower than economists had expected, reinforced the view that U.S. inflation pressures are slowing, if not always consistently. Continue reading
Jan 11 Watch 6:34 How December's inflation uptick complicates Federal Reserve's plan to lower interest rates By Amna Nawaz, Shoshana Dubnow New data shows that inflation ran a little higher at the end of the year than expected but slowed down significantly in 2023. Consumers are still hesitant to embrace the economy's strength, a theme that was consistent throughout last year's… Continue watching
Jan 11 Energy and housing prices nudged U.S. inflation up, but many other costs rose only mildly By Paul Wiseman, Associated Press The persistence of still-elevated inflation helps explain why, despite steady economic growth, low unemployment and healthy hiring, polls show many Americans are dissatisfied with the economy. Continue reading
Jan 05 Inflation rose last month in Europe, could keep rising after months of decline By David McHugh, Associated Press European Central Bank President Christine Lagarde warned that inflation could tick up in coming months, taking a detour from its recent downward path. Continue reading
Jan 05 Labor report indicates U.S. job market's resilience amid high interest rates By Paul Wiseman, Associated Press Hiring remains steady, and while employers are posting fewer openings, they are not laying off many workers. Despite the low unemployment and cooling inflation, polls show that many Americans are dissatisfied with the economy. Continue reading
Jan 04 Average long-term mortgage rates edge higher, breaking 9-week slide By Alex Veiga, Associated Press The average long-term U.S. mortgage rate edged higher this week, ending a nine-week slide that gave prospective homebuyers some breathing room after home loan borrowing soared to the highest level in more than two decades. Continue reading
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