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A Top Fed Official Opens Door to Keeping Rates High for Longer

Federal Reserve Vice Chair Philip Jefferson suggested Tuesday that the central bank's key rate may have to remain at its peak for a while to bring down persistently elevated inflation. read more >
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How Immigrant Workers in US Have Helped Boost Job Growth and Stave Off a Recession

MIAMI (AP) — Having fled economic and political chaos in Venezuela, Luisana Silva now loads carpets for a South Carolina rug company. She earns enough to pay rent, buy groceries, […] read more >
Banking & Finance / Real Estate

Homebuyers’ Quandary: To Wait or Not To Wait for Lower Mortgage Rates

While an average rate on a 30-year home loan of just under 7% is not far from the historical average, that’s little consolation to homebuyers. read more >
Banking & Finance / Government & Politics / Investments

Federal Reserve Minutes: Some Officials Highlighted Worsening Inflation Last Month

Still, almost all the officials, according to the minutes, favored cutting their benchmark rate at some point this year. read more >
Banking & Finance / Energy / Government & Politics / Insurance / Real Estate / Transportation

Higher Gas and Rents Keep US Inflation Elevated, Likely Delaying Fed Rate Cuts

The costs of owning a vehicle were a key reason why prices jumped last month: Auto insurance surged 2.6% in March and are up a dramatic 22% from a year ago. read more >
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Another Month of Robust US Job Growth Points to Continued Economic Strength

Friday’s report from the Labor Department also showed that the unemployment rate dipped from 3.9% to 3.8%. read more >
Banking & Finance / Government & Politics / Investments

Powell: Fed Still Sees Rate Cuts This Year; Election Timing Won’t Affect Decision

“The recent data do not ... materially change the overall picture,” Powell said in a speech at Stanford University. read more >
Banking & Finance / Government & Politics / Investments

Powell Says Fed Wants to See ‘More Good Inflation Readings’ Before it Can Cut Rates

Speaking at a conference at the Federal Reserve Bank of San Francisco, he said he still expected "inflation to come down on a sometimes bumpy path to 2%.'' read more >
Banking & Finance / Real Estate

Average Long-Term US Mortgage Rate Climbs Back to Nearly 7% After Two-Week Slide

The average rate on a 30-year mortgage rose to 6.87% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.42%. The average rate is now just below where it was two weeks ago. read more >
Banking & Finance / Government & Politics / Investments

Federal Reserve Still Foresees 3 Interest Rate Cuts This Year Despite Bump in Inflation

Powell will surely be pressed on the topic at a news conference Wednesday after the Fed ends its latest two-day meeting. read more >
Banking & Finance / Real Estate

Average Long-Term US Mortgage Rate Declines to Levels Last Seen in Early February

Despite the choppy trajectory in mortgage rates this year, the average rate on a 30-year home loan is still down from the 23-year high of 7.79% it reached in late October. read more >
Banking & Finance / Government & Politics

Federal Reserve’s Powell: Regulatory Proposal Criticized by Banks Will Be Revised

Among other things, the rule would require the largest banks — those with more than $100 billion in assets — to hold more funds in reserve to protect against bad loans and other potential losses. read more >
Banking & Finance / Government & Politics / Investments

Fed’s Powell: Rate Cuts Likely This Year, but More Evidence is Needed That Inflation is Tamed

Powell noted that inflation is slowing for both goods and services and did not express concern about the government's latest inflation data read more >
Banking & Finance / Government & Politics / Real Estate

The Fed’s Preferred Inflation Gauge Picked Up Last Month, a Sign of Still-Elevated Prices

The government reported Thursday that prices rose 0.3% from December to January, up from 0.1% in the previous month. But in a more encouraging sign, prices were up just 2.4% from a year earlier, down from a 2.6% annual pace in December and the smallest such increase in nearly three years. read more >
Banking & Finance / Business Services / Government & Politics / Manufacturing / Technology

US Economy Grew Solid 3.2% in Q4, a Slight Downgrade From Government’s Initial Estimate

U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world's largest economy into a recession. read more >
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Fed Minutes: Officials Worried That Progress on Inflation Could Stall in Coming Months

Some officials “noted the risk that progress toward price stability could stall, particularly if aggregate demand strengthened” or that the progress in improving supply chains could falter. read more >
Construction / Manufacturing / Technology

Robots and Happy Workers: Productivity Surge Helps Explain US Economy’s Surprising Resilience

The productivity boom marks a shift from the pre-pandemic years, when annual productivity growth averaged a tepid 1.5%. read more >
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US Inflation Slows in January, but Remains Elevated

The prices of services — hotel rooms, restaurant meals, auto insurance, apartment rents and the like — are still rising faster than they did before the pandemic and keeping overall inflation persistently high. read more >
Banking & Finance / Energy / Government & Politics / Investments

Recession Risks are Fading, Business Economists Say, but Political Tensions Pose Threat to Economy

A growing share of business forecasters worry that the Fed is keeping rates unnecessarily high. read more >
Banking & Finance / Government & Politics / Investments / Real Estate

Powell: Federal Reserve On Track To Cut Rates This Year

WASHINGTON (AP) — Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected […] read more >