inflation

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.

Britain's Treasury chief says that recession may be necessary to lower inflation

By Pan Pylas, Associated Press

Following higher-than-anticipated inflation figures this week, Jeremy Hunt says it's necessary to prioritize measures to slow the pace of price increases.

Public approval of Biden's approach to economy and gun policy remains low, AP-NORC poll finds

By Aamer Madhani, Emily Swanson, Associated Press

Just 33% of American adults say they approve of President Joe Biden’s handling of the economy and only 24% say national economic conditions are in good shape.

As high inflation continues, split on strategy among Federal Reserve officials

By Christopher Rugaber, Associated Press

The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight…

Why Americans are holding on to their vehicles longer than ever

By Tom Krisher, Associated Press

Blame it mainly on the pandemic, which in 2020 triggered a global shortage of automotive computer chips, the vital component that runs everything from radios to gas pedals to transmissions.