Mar 14 Stocks rally on Wall Street following inflation report, bank failures By Stan Choe, Associated Press The S&P 500 was 1.5 percent higher in early trading after a report showed inflation is still high but heading lower. Stocks of smaller and mid-sized banks recovered some of their prior plunges caused by worries that customers could yank… Continue reading
Mar 14 Inflation eased in February but remains high, putting pressure on Fed By Christopher Rugaber, Associated Press U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. Continue reading
Mar 10 WATCH: Biden hails economic progress after U.S. added 311,000 jobs in February By Christopher Rugaber, Associated Press America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation. Continue reading
Mar 09 Applications for U.S. jobless aid rise by the most in 5 months, layoffs stay historically low By Matt Ott, Associated Press The number of Americans applying for unemployment benefits last week jumped by the most in five months, but layoffs remain historically low as the labor market continues to be largely unaffected by the Federal Reserve's interest rate hikes. Continue reading
Mar 08 Powell says 'no decision' on the Federal Reserve's next move on interest rates By Christopher Rugaber, Associated Press Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank's policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation. Continue reading
Mar 07 Watch 5:02 News Wrap: Fed indicates robust economy, inflation could drive more rate hikes In our news wrap Tuesday, Federal Reserve chair Jerome Powell said high inflation and a robust economy may mean more interest rate hikes, Mexican officials confirmed two kidnapped Americans have been found dead, President Biden proposed raising taxes on those… Continue watching
Mar 07 WATCH: Fed Chair Jerome Powell says increased rate hikes may continue if economy stays strong By Christopher Rugaber, Associated Press The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a… Continue reading
Feb 24 Watch 4:10 News Wrap: 54 dead as heavy rain devastates coastal areas in Brazil By PBS NewsHour In our news wrap Friday, the death toll from heavy rain in Brazil that devastated coastal areas has risen to 54, parts of California saw blizzard and flood warnings as a storm intensified across the western U.S., the Federal Reserve’s… Continue watching
Feb 24 Wall Street closes out on its worst week of the year By Stan Choe, Associated Press Stocks have dropped through February as reports on inflation, the job market and spending by shoppers have come in hotter than expected. Continue reading
Feb 24 Inflation gauge ticks up in January, Federal Reserve says By Paul Wiseman, Associated Press The report also showed that consumer spending rose 1.8% last month from December after falling the previous month. Continue reading