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
May 03 Fed raises interest rate again but hints it may pause due to bank turmoil By Christopher Rugaber, Associated Press The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. Continue reading
May 01 Workers call for labor rights, economic justice at May Day rallies across the globe By Angela Charlton, Hyung-Jin Kim, Associated Press They are calling for higher salaries, reduced working hours and other better working conditions. May Day is observed in many countries as a day to celebrate workers’ rights. Continue reading
Apr 27 Watch 5:23 What the latest GDP report says about the strength of the U.S. economy By Paul Solman, Ryan Connelly Holmes The newest GDP data suggests the U.S. economy is slowing down. Consumers are still spending and companies are still hiring and investing, but it’s not at the same pace as last year. At the same time, the economy continues to… Continue watching
Apr 12 Watch 5:32 Americans get relief from rising food and gas prices, but core inflation remains high By Geoff Bennett, Courtney Norris Inflation cooled last month to its lowest level in nearly two years. The price of groceries dropped three-tenths of a percent in March, marking the first decline in that index since September 2020. But core inflation, which does not include… Continue watching
Apr 12 Inflation eased in March but core prices remain stubbornly high By Christopher Rugaber, Associated Press U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled under the weight of surging prices for nearly two years. Continue reading
Apr 11 WATCH: Yellen holds news conference during worrying IMF-World Bank spring meetings By Paul Wiseman, Fatima Hussein, Associated Press U.S. Treasury Secretary Janet Yellen held a news conference Tuesday as the outlook for the world economy has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks. Continue reading
Apr 07 Employers added 236,000 jobs in March, marking solid growth in labor market By Paul Wiseman, Associated Press Friday’s government report suggested that the economy and the job market remain on solid footing despite nine rate hikes imposed over the past year by the Fed. Continue reading