Layoffs fell, but the number of people quitting their jobs — a sign of confidence that they can find better pay or working conditions elsewhere — slid last month to the lowest level since March 2021. read more >
Yet those supporting a pause may have the upper hand. Chair Jerome Powell and the officials closest to him have signaled in speeches over the past week that they're likely to support a pause in rate hikes at their next meeting in mid-June. read more >
Speaking at a Fed conference in Washington, Powell said the central bank's benchmark rate, which affects many consumer and business loans, is now high enough to restrain borrowing, spending and economic growth. Fed officials hope that slower growth will cool inflation over time. read more >
Many Fed watchers have expected the central bank's officials to forgo another increase in their benchmark rate when they next meet in mid-June. Yet recent warnings from several of the officials about the continuing threat from high inflation suggest that that outcome is far from certain. read more >
While hiring remained strong in April, the government lowered its hiring figures for February and March. read more >
About 46% of all banks said they had raised standards for business loans known as commercial and industrial loans, up from just under 45% in the previous quarter. read more >
Having raised their key short-term rate by a substantial 5 percentage points since March 2022, Fed officials may step back and assess the impact of higher rates on growth and inflation. read more >
Friday's report from the Commerce Department showed that consumer prices rose 0.3% from January to February, down from a 0.6% increase from December to January. read more >
Senate Republicans questioned whether new rules were needed and noted that the Fed had had the authority to force Silicon Valley to address its shortcomings. read more >
The Fed chair also underscored that the central bank remains focused on fighting high inflation, which could require additional rate hikes. read more >
Most Fed watchers expect the central bank to announce on Wednesday afternoon a relatively modest quarter-point hike in its benchmark rate. read more >
U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. read more >
Powell's comments raise the possibility that the Fed will increase its key interest rate by a half-percentage point at its next meeting March 21-22, after having carried out a quarter-point hike in early February. read more >
Just a month ago, the economy appeared to be cooling and inflation steadily declining. But a spate of government data has since painted a very different picture. read more >
Friday's report from the Commerce Department showed that consumer prices rose 0.6% from December to January, up sharply from a 0.2% increase from November to December. read more >
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate rose to 6.5% from 6.32% last week. The average rate a year ago was 3.89%. read more >
Overall, the minutes released Wednesday showed that the Fed's policymakers emphasized their determination to keep rates high to curb inflation even as they welcomed a slowdown since the fall. read more >
So far, most of the slowdown in inflation reflects freer-flowing supply chains and earlier declines in gas prices. read more >
It's the third straight week that the four-week moving average has been below 200,000 and the ninth straight weekly decline. read more >
Friday's jobs report suggests the possibility that the long-standing connection between a vigorous job market and high inflation has broken down. read more >
