Aug 02 U.S. hiring slows with just 114,000 jobs added in July, unemployment rate hits 4.3 percent By Paul Wiseman, Associated Press U.S. hiring decelerated sharply last month in the face of high interest rates as employers added a weak 114,000 jobs. Friday's Labor Department report showed a drop from the 179,000 jobs created in June. Continue reading
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.”… Continue reading
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%. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
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. Continue reading
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… Continue reading
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. Continue reading