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
Jun 14 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. Continue reading
Jun 02 Both U.S. hiring and unemployment jumped last month. Here’s what that says about the economy By Christopher Rugaber, Associated Press Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels. Yet there were some mixed messages in the jobs figures. Continue reading
May 16 WATCH: Executives from failed banks face Senate questions on risk management By Ken Sweet, Associated Press Along with questions about how these banks failed, senators used the hearing to also address executive pay and whether senior executives in the U.S. are being rewarded more for short-term gains than for ensuring their companies’ long-term health. Continue reading
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