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
Staff Writer
Older Americans are fueling a sustained boost to the U.S. economy
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
The Federal Reserve is highlighting the importance of its political independence at a time when Donald Trump, who frequently attacked the Fed’s policymaking in the past, edges closer to formally becoming the Republican nominee for president again
The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in testimony to Congress, a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it's moving closer to cutting interest rates
Optimism is rising among economists, investors and Federal Reserve officials that U.S. inflation is nearly under control, with the latest report on consumer prices expected to show another month of mild increases
Chair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point
Loretta Mester, having worked in the Federal Reserve system her entire career, rose to become president of the Cleveland Fed for a decade until her retirement on June 30
A key question is looming for Vice President Kamala Harris as she edges closer to gaining the Democratic presidential nomination: Can she turn the Biden-Harris economic record into a political advantage in a way that President Joe Biden failed to do
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