Jan 29 Economists expect Federal Reserve to cut rates sometime this year as inflation slows By Christopher Rugaber, Associated Press Inflation is getting close to the Fed’s target rate, the economy is still growing at a healthy pace and the unemployment rate is near a half-century low. Most economists say they expect the first rate cut to occur in May… Continue reading
Jan 25 WATCH: Yellen delivers remarks in Chicago on U.S. economic growth and investments By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen is visiting the Midwest this week to make a case for the Biden administration's economic agenda and offer a reminder about the Trump administration tax cuts, which she says added to the deficit and did little to promote… Continue reading
Jan 11 Watch 6:34 How December’s inflation uptick complicates Federal Reserve’s plan to lower interest rates By Amna Nawaz, Shoshana Dubnow New data shows that inflation ran a little higher at the end of the year than expected but slowed down significantly in 2023. Consumers are still hesitant to embrace the economy's strength, a theme that was consistent throughout last year's… Continue watching
Dec 29 Watch 5:56 How the economy upended expectations of a recession in 2023 By Geoff Bennett, Shoshana Dubnow It was a year in which many experts got a lot of things wrong about the economy. Many economists believed the Fed's battle to tame inflation with interest rate hikes would trigger high unemployment and a recession. Instead, inflation was… Continue watching
Dec 13 Watch 5:32 Interest rates remain unchanged, but Federal Reserve signals cuts coming in 2024 By Stephanie Sy, Shoshana Dubnow The Federal Reserve opted to leave interest rates unchanged, but Fed Chairman Jerome Powell suggested there may be as many as three rate cuts next year. Powell said rate hikes appear to be over for now and the economy is… Continue watching
Nov 27 Consumers projected to spend around $12 billion on Cyber Monday By Haleluya Hadero, Associated Press Consumer spending for Cyber Week - the five days between Thanksgiving and Monday - provides a strong indication on how much shoppers are willing to spend during the holidays. Continue reading
Nov 27 WATCH: Biden says he’s helped lower inflation during the first meeting of his new supply chain council By Josh Boak, Associated Press President Joe Biden on Monday opened the first meeting of his supply chain resilience council by warning companies against price gouging and saying that his administration was working to lower costs for U.S. families. Continue reading
Nov 24 Retailers step up Black Friday deals to with consumers on tighter budgets in mind By Anne D'Innocenzio, Associated Press Consumers are coming under pressure as their savings dwindle and their credit card debt grows. Despite some relief from easing inflation, many goods and services like meat and rent are still far higher than they were just three years ago. Continue reading
Nov 21 Thanksgiving travel surge expected to set records By David Koenig, Associated Press The good news for travelers by plane and car alike: Prices are coming down. Continue reading
Nov 03 Labor marker remains resilient despite slower job growth last month By Paul Wiseman, Associated Press Last month’s job growth, though down sharply from a robust 297,000 gain in September, was solid enough to suggest that many companies still want to hire and that the economy remains sturdy. Continue reading