US inflation eased last month in the first slowdown of 2024
Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Bidenโs re-election team.
Fed's Powell downplays potential for a rate hike despite higher price pressures
Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again.
Are US interest rates high enough to beat inflation? The Fed will take its time to find out
The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.
Federal Reserve says interest rates will stay at two-decade high until inflation further cools
The Federal Reserve emphasized that inflation has remained stubbornly high and said it doesnโt plan to cut interest rates until it has โgreater confidenceโ that price increases are slowing sustainably to its 2% target.
Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Pay and benefits for Americaโs workers grew more quickly in the first three months of this year, a trend that could contribute to higher inflation and raise concerns about the future path of price increases at the Federal Reserve.
Fed's preferred inflation gauge shows price pressures stayed elevated last month
A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fedโs reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Bidenโs re-election bid.
When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all
Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, would-be homeowners โ pretty much everyone โ began obsessing over a single question: When will the Fed start cutting rates.
Powell: Fed still sees rate cuts this year; election timing won't affect decision
Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.
Powell says Fed wants to see 'more good inflation readings' before it can cut rates
Federal Reserve Chair Jerome Powell reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it wonโt be ready to do so until it sees โmore good inflation readingsโโ and is more confident that annual price increases are falling toward its 2% target.
Federal Reserve's Powell: Regulatory proposal criticized by banks will be revised by end of year
A sweeping bank regulatory proposal will be significantly revised by yearโs end, Federal Reserve Chair Jerome Powell said Thursday, a potential victory for the large banks that have aggressively opposed the likely changes.
Fed's Powell: Rate cuts likely this year, but more evidence is needed that inflation is tamed
Chair Jerome Powell reinforced his belief that the Federal Reserve will cut its key interest rate this year but said it first wants to see more evidence that inflation is falling sustainably back to the Fedโs 2% target.
Inflation has slowed. Now the Federal Reserve faces expectations for rate cuts
Chair Jerome Powell will enter this weekโs Federal Reserve meeting in a much more desirable position than he likely ever expected: Inflation is getting close to the Fedโs target rate, the economy is still growing at a healthy pace, consumers keep spending and the unemployment rate is near a half-century low.
Congressional Budget Office projects lower inflation and higher unemployment into 2025
The Congressional Budget Office says it expects inflation to nearly hit the Federal Reserveโs 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Stock market today: Asian shares are mostly higher after the Dow hits a record high, US dollar falls
Shares are mostly higher in Asia after a powerful rally across Wall Street sent the Dow Jones Industrial Average to a record high as the Federal Reserve indicated that interest rate cuts are likely next year.
Speculation about eventual rate cuts is rising, but Fed is set to leave interest rates unchanged
With inflation edging closer to the Federal Reserveโs 2% target, its policymakers are facing โ and in some cases fueling โ hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as soon as spring.
Federal Reserve minutes: Officials saw inflation slowing but will monitor data to ensure progress
Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting.
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines
The Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors.
Federal Reserve minutes: Officials signal cautious approach to rates amid heightened uncertainty
Federal Reserve officials regarded the U.S. economyโs outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would โproceed carefullyโ in deciding whether to further raise their benchmark interest rate.
Federal Reserve is poised to leave rates unchanged as it tracks progress toward a 'soft landing'
Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than most Americans would like, while growth remains solid and the job market cools.
3 officials sworn in at Federal Reserve, as governing board reaches full strength
Federal Reserve Chair Jerome Powell swore in three members of the central bankโs governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bankโs first Latina governor.
Job vacancies, quits plunge in July in stark sign of cooling trend in the US job market
Businesses posted far fewer open jobs in July and the number of Americans quitting their jobs fell sharply for the second straight month, clear signs that the labor market is cooling in a way that could reduce inflation.
Economy's solid growth could require more Fed hikes to fight inflation, Powell says at Jackson Hole
The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said in a closely watched speech that also highlighted the uncertain nature of the economic outlook.
Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates?
A year ago, Chair Jerome Powell warned that to fight high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing โsome painโ in the form of job losses and weaker economic growth.
US economy unexpectedly accelerated to a 2.4% growth rate in April-June quarter despite Fed hikes
The U.S. economy surprisingly accelerated to a 2.4% annual growth rate from April through June, showing continued resilience in the face of steadily higher interest rates resulting from the Federal Reserveโs 16-month-long fight to bring down inflation.
Federal Reserve minutes: Some officials wanted to raise interest rates last month
Some Federal Reserve officials pushed to raise the Fedโs key interest rate by one-quarter of a percentage point at their meeting last month to intensify their fight against high inflation, though the central bank ultimately decided to forgo a rate hike.
Fed's Powell reinforces likelihood of more rate hikes because of persistently high inflation
Chair Jerome Powell reiterated that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economyโs service sector and the surprisingly tight job market.
Federal Reserve is likely to skip a rate hike at pivotal meeting Wednesday yet signal more to come
The Federal Reserve, having raised interest rates at the fastest pace in four decades, is poised Wednesday to leave rates alone for the first time in 15 months to allow time to gauge the impact of its aggressive drive to tame inflation.
Debt default 'X-date' calculations aim to figure out when the US may run short of cash
For all the concern over when the government might run out of money to cover all its bills, it turns out that no one can be absolutely sure exactly when the country faces a potential default โ the dreaded โX-date.โ.
Survey of economists: Inflation will stay high this year, and so will Fed's key interest rate
The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest rate at a 16-year high, a group of business economists predict in a new survey.
Federal Reserve Chair Powell hints at a pause in rate hikes when central bank meets next month
Chair Jerome Powell indicated that the Federal Reserve will likely forgo an increase in its benchmark interest rate when it meets in June for the first time since it began raising its key rate 14 months ago to fight high inflation.
US wholesale price data for April points to easing inflation pressures
Wholesale prices in the United States decelerated last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates.
Powell to face Senate grilling on Fed rates and inflation
If measures of the U.S. economy keep coming in hot, as they did in January, the Federal Reserve will likely have to raise interest rates even higher than it has already signaled โ and keep them there longer โ Chair Jerome Powell will likely warn in testimony to Congress on Tuesday.