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Jul 31

WATCH: Fed Chair Powell holds news briefing as first interest rate cut in four years ‘getting closer’

By Christopher Rugaber, Associated Press

At a news conference Wednesday, Fed Chair Jerome Powell said that if inflation continued to cool, "a rate cut could be on the table in the September meeting.”…

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Jul 26

Federal Reserve’s favored inflation gauge cools, increasing likelihood of September rate cut

By Christopher Rugaber, Associated Press

Prices rose just 0.1% from May to June, up from the previous month's unchanged reading. Compared with a year earlier, inflation declined to 2.5% from 2.6%.

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Jul 25

U.S. economy shows strong 2.8 percent growth, driven by consumers and businesses

By Paul Wiseman, Associated Press

Thursday’s report from the Commerce Department said the gross domestic product picked up in the April-June quarter after growing at a 1.4 percent pace in the January-March period.

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Jul 11

Cooling inflation may pave way for interest rate cut soon

By Christopher Rugaber, Associated Press

Inflation in the United States cooled in June for a third straight month, a sign that the worst price spike in four decades is steadily fading and may soon usher in interest rate cuts by the Federal Reserve.

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Jul 09

WATCH: Slowing job market signals interest rate cuts may be near, Powell tells Senate committee

By Christopher Rugaber, Associated Press

The Fed has made "considerable progress" toward its goal of defeating the worst inflation spike in four decades, Powell told the Senate Banking Committee.

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Jul 05

U.S. employers add 206,000 jobs in June, sign of economic stability despite interest rates

By Paul Wiseman, Associated Press

Friday's report from the Labor Department also showed that the unemployment rate ticked up from 4% to a still-low 4.1%. And the department sharply revised down its estimate of job growth for April and May by a combined 111,000.

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Jul 03

As slowing economy boosts hopes for lower interest rates, Wall Street keeps hitting new records

By Stan Choe, Associated Press

The S&P 500 rose 0.5 percent to set an all-time high for a second straight day and for the 33rd time this year.

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Jul 02

U.S. inflation slowing again, but Fed Chair Powell warns it isn’t yet time to cut rates

By Christopher Rugaber, Associated Press

Speaking in a panel discussion at a monetary policy conference in Sintra, Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high…

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Jun 24

‘Supply crunch has led to an affordability crunch.’ Yellen announces efforts to help with increased housing costs

By Fatima Hussein, Associated Press

The Biden administration announced new steps to increase access to affordable housing as still-high prices on groceries and other necessities and high interest rates have dramatically pushed up the cost of living in the post-pandemic years.

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Jun 12

Inflation eases for 2nd straight month, a sign this year’s acceleration of prices may have passed

By Christopher Rugaber, Associated Press

Inflation in the United States eased in May, a hopeful sign that an acceleration of prices that occurred early this year may have passed.

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