Jan 31 Europe shows slight economic growth in final quarter of 2022 By David McHugh, Associated Press Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Continue reading
Jan 31 IMF increases expected growth for the global economy in 2023 By Paul Wiseman, Associated Press The IMF, a 190-country lending organization, foresees inflation easing this year, a result of aggressive interest rate hikes by the Federal Reserve and other major central banks. Continue reading
Jan 31 U.S. wage growth slowed in the last quarter of 2022 By Christopher Rugaber, Associated Press Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022 which could help reassure the Federal Reserve that wage gains won't fuel higher inflation. Continue reading
Jan 30 Federal Reserve prepares for smaller hike, but may hint of fewer increases By Christopher Rugaber, Associated Press The Federal Reserve is poised this week to raise its benchmark interest rate for an eighth time since March. But the Fed will likely announce a smaller hike for a second straight time, and it could change some key wording… Continue reading
Jan 29 Analysis: Cost of living may be rising faster for rural Americans By Stephan Weiler, Tessa Conroy, The Conversation When the Federal Reserve convenes at the end of January 2023 to set interest rates, it will be guided by one key bit of data: the U.S. inflation rate. The problem is, that stat ignores a sizable chunk of the… Continue reading
Jan 27 U.S. inflation and consumer spending eases in December By Christopher Rugaber, Associated Press The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Continue reading
Jan 20 Biden’s first 2 years in office, by the numbers By Associated Press President Joe Biden notches two years in office on Friday. That represents 730 days since his inauguration. The story of the first half of Biden's term — at least by the numbers — is a mixed bag. Continue reading
Jan 15 Watch 5:00 What you need to know about interest-free payment plans By John Yang, Claire Mufson As prices remain high from inflation, the concept of "buy now, pay later" is gaining popularity among consumers. Companies like Affirm, Afterpay and Klarna allow customers to take an item home right away and pay for it over time in… Continue watching
Jan 12 Watch 4:47 Rising prices push many Americans further into credit card debt By Geoff Bennett, Dorothy Hastings Inflation rates fell for the sixth consecutive month, but Americans are still feeling the pinch from higher than usual prices. Many have been forced to pull out their credit cards, even while interest rates on those cards are soaring. Michelle… Continue watching
Jan 12 Inflation eases across U.S., may need less action from Fed to control it By Christopher Rugaber, Associated Press Rising U.S. consumer prices moderated again last month, bolstering hopes that inflation's grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it. Continue reading