Sep 29 WATCH: Federal Reserve Chair defends Federal policies, says inflation may persist By Christopher Rugaber, Associated Press At a panel sponsored by the European Central Bank on Wednesday Powell said the Fed has avoided the mistake of underestimating the severity of pandemic's economic impact. But criticism of the Fed's policies has grown in recent months as inflation… Continue reading
Aug 12 Back-to-back price hikes, wholesale costs up 1 percent in July By Martin Crutsinger, Associated Press Over the past 12 months, prices at the wholesale level are up a record 7.8 percent, surpassing the old record of a 7.3 percent gain set for the 12 months ending in June. Continue reading
Jul 21 Used car prices slip from dizzy heights, signaling small victory for economy By Tom Krisher, Mike Householder, Associated Press Used car prices had rocketed more than 40% since before the coronavirus pandemic began — to an average of nearly $25,000. Now, the seemingly endless streak of skyrocketing used vehicle prices appears to be coming to a close. Continue reading
Jul 15 Watch 10:40 Child tax credit should boost working families, Treasury Secretary Yellen says Critics say monthly child tax credit payments, now available for more than 35 million American families, could discourage people from working, but Treasury Secretary Janet Yellen disagrees. The credit can help parents play for childcare to enable them to work,… Continue watching
Jul 14 Watch 6:30 Supply ‘bottlenecks’ are driving a consumer price surge. Here’s how that affects inflation The Consumer Price Index rose 5.4% last month compared to a year ago — the biggest monthly jump since 2008. During testimony on Capitol Hill Wednesday, Federal Reserve Chairman Jerome Powell gave his assessment about the price surge and risks… Continue watching
Jul 14 WATCH: Fed Chair Powell says inflation, though elevated, will likely moderate By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating."… Continue reading
Jul 13 Watch 6:41 News Wrap: Consumer prices see 5.4% year on year rise, White House says surge temporary In our news wrap Tuesday, the Federal Reserve and White House said they expect a consumer price surge, up 5.4 percent, to be temporary. There's fresh evidence that COVID-19 infections in the U.S. are rising again, mostly among the unvaccinated. Continue watching
Jun 16 Watch 5:08 News Wrap: Federal Reserve projects rate increases in 2023 as economy recovers from COVID In our news wrap Wednesday, the Federal Reserve signaled it may raise a key, short-term interest rate — from near-zero — sooner than planned. The European Union called for lifting travel restrictions on Americans. North Korea's leader Kim Jong-un warned… Continue watching
Feb 10 Powell stresses commitment to full employment and low rates By Christopher Rugaber, Associated Press Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York. Continue reading
Dec 09 Watch 2:15 Remembering former Fed chair and economic giant Paul Volcker By Paul Solman Paul Volcker, who served as chair of the Federal Reserve for two presidents, died Monday. His passing came 40 years after he drove interest rates to record highs in an effort to tame double-digit inflation. Known for his height and… Continue watching