inflation

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.

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.

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.

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.