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CHRISTOPHER RUGABER
Chris Rugaber covers the economy and the Federal Reserve
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Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts
Federal Reserve officials at their most recent meeting welcomed recent signs that inflation is slowing and highlighted data suggesting that the job market and the broader economy could be cooling.
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Fed Chair Jerome Powell: US inflation is cooling again, though it isn’t yet time to cut rates
Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said, while adding that more such evidence would be needed before the Fed would cut interest rates.
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Anxiety over persistent inflation helps drive down US consumer sentiment for third consecutive month
U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation.
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Federal Reserve sees some progress on inflation but envisions just one rate cut this year
Federal Reserve officials said inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year.
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US inflation cooled in May in a sign that price pressures may be easing
Inflation in the United States eased in May for a second straight month, a hopeful sign that an acceleration of prices that occurred early this year may have passed.
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Inflation data this week could help determine Fed’s timetable for rate cuts
After Federal Reserve officials meet this week, a statement they will issue may suggest that they’ve seen meaningful progress on inflation this year — a prelude to eventual interest rate cuts.
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US hiring and wage growth picked up last month in sign of sustained economic health
America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates.
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An inflation gauge closely tracked by Federal Reserve rises at slowest pace this year
A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year.
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Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president
The Cleveland branch of the Federal Reserve says that Beth Hammack, an executive at investment bank Goldman Sachs, would be its next president effective Aug. 21.
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Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
Hopes for interest rate cuts this year by the Federal Reserve are steadily fading, with a stream of recent remarks by Fed officials underscoring their intention to keep borrowing costs high as long as needed to curb persistently elevated inflation.
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Federal Reserve minutes: Policymakers saw a longer path to rate cuts
After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high.
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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 Biden’s re-election team.
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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.
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Wholesale price increases accelerated in April as inflation remains sticky
U.S. wholesale prices rose sharply last month, a sign that stubbornly high inflation may persist after three elevated readings in consumer prices to start the year.
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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.
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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.
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US consumer sentiment drops to 6-month low on inflation, unemployment fears
Consumer sentiment fell sharply in May to the lowest level in six months as Americans cited concerns about stubbornly high inflation and interest rates and fears that unemployment could rise.
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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 doesn’t plan to cut interest rates until it has “greater confidence” that price increases are slowing sustainably to its 2% target.
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Workers’ paychecks grew faster in the first quarter, a possible concern for the Fed
Pay and benefits for America’s 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.
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Affluent Americans are driving US economy and likely delaying need for Fed rate cuts
Older Americans are fueling a sustained boost to the U.S. economy. Benefiting from outsize gains in the stock and housing markets over the past several years, they are accounting for a larger share of consumer spending — the principal driver of economic growth — than ever before.
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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 Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
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New federal rule would bar ‘noncompete’ agreements for most employees
U.S. companies would no longer be able to bar employees from taking jobs with competitors under a rule approved by a federal agency, though the rule is sure to be challenged in court.
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Fed’s Powell: Elevated inflation will likely delay rate cuts this year
Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates.
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A top Federal Reserve official opens door to keeping rates high for longer
Federal Reserve Vice Chair Philip Jefferson suggested that the central bank’s key rate may have to remain at its peak for a while to bring down persistently elevated inflation.
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US consumer sentiment falls slightly as outlook for inflation worsens
Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
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How immigrant workers in US have helped boost job growth and stave off a recession
Millions of jobs that new immigrants have been filling in the United States appear to solve a riddle that has confounded economists for at least a year: How has the U.S. economy managed to prosper, adding hundreds of thousands of jobs, month after month, at a time when the Federal Reserve has aggres
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Federal Reserve minutes: Some officials highlighted worsening inflation last month
Some Federal Reserve policymakers argued at their most recent meeting in March that inflation was likely worsening, even before the government reported Wednesday that price increases re-accelerated last month.
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Higher gas and rents keep US inflation elevated, likely delaying Fed rate cuts
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other item.
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What’s behind the latest US-China trade fight?
China’s burgeoning production of electric cars and other green technologies has become a flashpoint in a new U.S.-China trade fight.
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Will the Federal Reserve cut interest rates? With a robust US economy, it might not need to
Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates?
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