US Inflation Slowed Sharply to 7.1% Over Past 12 Months
Measured from month to month, which gives a more up-to-date snapshot, the consumer price index inched up just 0.1%. read more >
Powell: Fed to Keep Rates Higher for Longer to Cut Inflation
"It is likely that restoring price stability will require holding (interest rates) at a restrictive level for some time," Powell said. "History cautions strongly against prematurely loosening policy." read more >
by Associated Press -
Average Long-Term US Mortgage Rates Dip Third Week in a Row
Mortgage rates are still more than double what they were in early January, mirroring a sharp rise in the yield on the 10-year Treasury note. read more >
by Associated Press -
US Job Openings Fell in October, but Still High
Employers posted 10.3 million job vacancies in October, down from 10.7 million in September. read more >
by Associated Press -
2 Fed Officials Favor Keeping Key Rate at Peak Through 2023
James Bullard, president of the St. Louis Fed, suggested that financial markets are underestimating the likelihood the Fed will have to be more aggressive. read more >
by Associated Press -
What to Watch in 2023 (Lance Turner Editor’s Note)
Last year around this time, I identified a few business news items with implications for 2022. And with 2023 on the horizon, it’s time to do it again — and check on a couple of last year’s forecasts. read more >
by Lance Turner -
Fed Unleashes Another Big Rate Hike but Hints at a Pullback
The Fed's move boosted its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank's sixth rate hike this year — a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession. read more >
by Associated Press -
Worsening Inflation Will Pressure Fed to Keep Raising Rates
Consumer prices, excluding volatile food and energy costs, jumped 6.6% in September from a year ago — the fastest such pace in four decades. read more >
by Associated Press -
US Job Openings Fell 10% in August as Economy Slowed
It's good news for the Federal Reserve in its efforts to bring down high prices without plunging the economy into a recession. read more >
by Associated Press -
Fed Attacks Inflation With Another Big Hike and Expects More
In their updated economic forecasts, the Fed's policymakers project that economic growth will remain weak for the next few years, with rising unemployment. read more >
by Associated Press -
Job Vacancies Rose in July, Dashing Fed Hopes for Cooling
It's a sign that employers are still urgently seeking workers despite a weakening economy and high inflation. read more >
Powell: Fed Could Keep Lifting Rates Sharply ‘For Some Time’
Powell also warned more explicitly than he has in the past that the Fed's continued tightening of credit will cause pain for many households and businesses as its higher rates further slow the economy and potentially lead to job losses. read more >
by Associated Press -
Government Revision Shows Economy Shrank 0.6% Last Quarter
In its previous estimate for the April-June quarter, the government had estimated that the economy had shrunk at a 0.9% rate. read more >
by Associated Press -
US Wholesale Inflation Fell in July for 1st Time in 2 Years
Thursday's report from the Labor Department showed that the producer price index — which measures inflation before it reaches consumers — declined 0.5% in July. read more >
by Associated Press -
Inflation Eases Slightly in July to 8.5%
On a monthly basis, prices were unchanged from June to July, the first time that has happened after 25 months of increases. read more >
US Economy Shrinks for a 2nd Quarter, Raising Recession Fears
Consumer spending slowed as Americans bought fewer goods, business investment fell, and inventories tumbled as businesses slowed their restocking of shelves. read more >
by Associated Press -
Fed Set to Impose Another Big Rate Hike to Fight Inflation
A news conference that Chair Jerome Powell will hold Wednesday — and whatever signals, if any, he sends about the Fed's next steps — will draw intense interest. read more >
by Associated Press -
EXPLAINER: Why US Inflation is So High, and When it May Ease
With demand up and supplies down, costs jumped. And companies found that they could pass along those higher costs in the form of higher prices to consumers, many of whom had managed to pile up savings during the pandemic. read more >
by Associated Press -
Fed Attacks Inflation With its Largest Rate Hike Since 1994
The Fed's three-quarter-point rate increase exceeds the half-point hike that Chair Jerome Powell had previously suggested was likely to be announced this week. read more >
by Associated Press -
US Job Openings Decline From Record Level But Remain High
The white-hot demand for U.S. workers cooled a bit in April, though the number of unfilled jobs remains high and companies are still desperate to hire more people. read more >
by Associated Press -
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