Sep 25 Why the job market has weathered rising interest rates, grim economic forecasts By Christopher Rugaber, Associated Press Inflation has tumbled from its peak of 9.1% in June 2022 to 3.7% on the back of the Fed’s rate hikes. Yet the unemployment rate, at a still-low 3.8%, has scarcely budged. Continue reading
Sep 20 WATCH: Federal Reserve keeps rates unchanged but signals likelihood of another hike this year By Christopher Rugaber, Associated Press Besides forecasting another hike by year’s end, Fed officials now envision keeping rates high deep into 2024. They expect to cut interest rates just twice next year, fewer than the four rate cuts they had predicted in June. Continue reading
Sep 01 WATCH: Biden gives remarks after economy adds 187,000 jobs in slowing but steady growth By Associated Press President Joe Biden will deliver remarks after the August jobs report shows economy added 187,000 positions, evidence of a slowing but still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Continue reading
Sep 01 Economy adds 187,000 jobs in August despite Federal Reserve’s high interest rates By Paul Wiseman, Associated Press The nation's employers added a healthy 187,000 jobs in August in a sign of a still-resilient labor market despite the high interest rates the Federal Reserve has imposed. Continue reading
Aug 31 Important inflation tracker shows small increase in sign of slowing prices By Christopher Rugaber, Associated Press An inflation gauge closely tracked by the Federal Reserve remained low last month, adding to signs of cooling price increases and raising the likelihood that the Fed will leave interest rates unchanged when it next meets in late September. Continue reading
Jul 28 An inflation gauge closely tracked by the Fed falls to lowest level in 2 years By Christopher Rugaber, Associated Press A measure of consumer prices that is closely monitored by the Federal Reserve fell last month to its lowest level since March 2021, the latest sign that inflation in the United States is steadily cooling from its once-painful highs. Continue reading
Jul 26 WATCH: Powell announces 11th key interest rate raise in drive to slow inflation By Christopher Rugaber, Associated Press Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing. Continue reading
Jun 30 A Federal Reserve inflation index falls to lowest level in 2 years By Christopher Rugaber, Associated Press At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April. Continue reading
Jun 22 WATCH: Fed Chair Jerome Powell reinforces likelihood of more rate hikes By Matt Ott, Associated Press Chair Jerome Powell reiterated Thursday that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economy's service sector and the surprisingly tight job market. Continue reading
Jun 14 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. Continue reading