Jul 28 WATCH: Biden jokes that Republicans may impeach him because inflation is starting to cool By Josh Boak, Associated Press Biden — buoyed by new signs the economy is continuing on the upswing — took a swipe on Friday at House Republicans' flirtations with an impeachment inquiry, quipping that GOP lawmakers may decide to impeach him because inflation is cooling down. Continue reading
Jul 28 An inflation gauge closely tracked by the Fed falls to lowest level in 2 years By Christopher Rugaber, Associated Press A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs. Continue reading
Jul 27 How a 'rolling recession' or a 'richcession' could spare the rest of the economy from a downturn By Christopher Rugaber, Associated Press The latest snapshot of the economy coincides with rising sentiment that it may achieve an elusive "soft landing." Analysts point to two trends that might help stave off an economic contraction. Continue reading
Jul 26 Watch 5:32 How the Federal Reserve uses higher interest rates to tame inflation By William Brangham, Diane Lincoln Estes Interest rates are headed higher again, as the Federal Reserve resumes its fight with inflation. That effort is almost a year and a half old now. At the same time, Fed Chair Jay Powell wants to tame inflation without tipping… Continue watching
Jul 25 U.S. consumer confidence jumps to a two-year high as inflation eases By Paul Wiseman, Associated Press The index measures both Americans' assessment of current economic conditions and their outlook for the next six months. Both improved in July. Continue reading
Jul 24 Federal Reserve officials meet as central bank aims for 'soft landing' By Christopher Rugaber, Associated Press After the Fed began aggressively raising borrowing costs early last year, most economists predicted it would send the economy crashing. Yet even though the Fed is poised to raise its key rate on Wednesday for the 11th time since March… Continue reading
Jul 12 Watch 4:24 News Wrap: Inflation falls to lowest level since early 2021 In our news wrap Wednesday, inflation cooled in June to its lowest level since early 2021, cleanup crews plowed through sludge in Montpelier, Vermont, after flood waters receded, heat alerts were issued as forecasts called for the Southwest to break… Continue watching
Jul 12 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. Continue reading
Jul 07 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. Continue reading
Jul 07 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… Continue reading