Jun 13 U.S. consumer price growth slowed in May, though some inflation measures stayed high By Christopher Rugaber, Associated Press The pullback was driven by tumbling gas prices, a much smaller rise in grocery prices than in previous months and less expensive furniture, air fares and appliances. Continue reading
Jun 02 Labor market defies expectations with strong growth, adding 339,000 jobs in May By Christopher Rugaber, Associated Press The nation's employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of strength in an economy that the Federal Reserve is desperately trying to cool. Continue reading
May 31 U.S. job openings hit 10.1 million and labor market stays strong despite efforts to cool economy By Paul Wiseman, Associated Press U.S. job openings rose unexpectedly in April a sign the American labor market remains surprisingly resilient as the Federal Reserve pushes interest rates higher to combat inflation. Continue reading
May 26 Britain’s Treasury chief says that recession may be necessary to lower inflation By Pan Pylas, Associated Press Following higher-than-anticipated inflation figures this week, Jeremy Hunt says it's necessary to prioritize measures to slow the pace of price increases. Continue reading
May 22 Public approval of Biden’s approach to economy and gun policy remains low, AP-NORC poll finds By Aamer Madhani, Emily Swanson, Associated Press Just 33% of American adults say they approve of President Joe Biden’s handling of the economy and only 24% say national economic conditions are in good shape. Continue reading
May 18 As high inflation continues, split on strategy among Federal Reserve officials By Christopher Rugaber, Associated Press The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight… Continue reading
May 15 Why Americans are holding on to their vehicles longer than ever By Tom Krisher, Associated Press Blame it mainly on the pandemic, which in 2020 triggered a global shortage of automotive computer chips, the vital component that runs everything from radios to gas pedals to transmissions. Continue reading
May 11 Bank of England raises interest rates to highest level since 2008 By Pan Pylas, Associated Press Like other central banks around the world, the Bank of England has sought to keep a lid on inflation, which over the past year has been fueled by Russia's invasion of Ukraine. Continue reading
May 10 Watch 7:08 Chicago Federal Reserve president on inflation and economic uncertainty By Geoff Bennett, Dorothy Hastings The Federal Reserve has been laser-focused on bringing down prices, raising interest rates 10 times in the last 14 months. But economic uncertainties remain, including the consequences of much higher interest rates, a debt limit standoff and recent bank collapses. Continue watching
May 10 U.S. prices rose in April, showing inflation pressures persist By Christopher Rugaber, Associated Press Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come. Continue reading