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Today: January 22, 2025
Today: January 22, 2025
CHRISTOPHER RUGABER

CHRISTOPHER RUGABER

Staff Writer

Latest From CHRISTOPHER RUGABER

Business|Economy|US

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

Affluent Americans are driving US economy and likely delaying need for Fed rate cuts
Economy|Finance|News

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

Workers' paychecks grew faster in the first quarter, a possible concern for the Fed
Business|Economy|Finance

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

Federal Reserve says interest rates will stay at two-decade high until inflation further cools
Economy|Finance|News|US

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

US consumer sentiment drops to 6-month low on inflation, unemployment fears
Economy|Finance|News|US

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

Are US interest rates high enough to beat inflation? The Fed will take its time to find out
Economy|Finance|US

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

Wholesale price increases accelerated in April as inflation remains sticky
Economy|Finance|News|US

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

Fed's Powell downplays potential for a rate hike despite higher price pressures
News|Economy|US

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

US inflation eased last month in the first slowdown of 2024
Business|Economy|Finance|News|US

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

Federal Reserve minutes: Policymakers saw a longer path to rate cuts
Economy|Finance|Stock Markets|US

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

Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
Business|Finance|Stock Markets|US

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

Cleveland Fed names former Goldman Sachs executive Beth Hammack to succeed Mester as president
Economy|Finance|News|US

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

An inflation gauge closely tracked by Federal Reserve rises at slowest pace this year
Business|Economy|Finance|News|US

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

US hiring and wage growth picked up last month in sign of sustained economic health
Economy|Finance|US

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

Inflation data this week could help determine Fed's timetable for rate cuts
Economy|Finance|News

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

Federal Reserve sees some progress on inflation but envisions just one rate cut this year
Economy|Finance|News|US

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

US inflation cooled in May in a sign that price pressures may be easing
Economy|Finance|News|US

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

Anxiety over persistent inflation helps drive down US consumer sentiment for third consecutive month
Economy|Finance|News|US

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

Fed Chair Jerome Powell: US inflation is cooling again, though it isn't yet time to cut rates
Economy|Finance|News|US

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

Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts
Economy|Election|Finance|News|Political|US

Federal Reserve highlights its political independence as presidential campaign heats up

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

Federal Reserve highlights its political independence as presidential campaign heats up
Business|Economy|Finance|News|US

Fed's Powell highlights slowing job market in signal that rate cuts may be nearing

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

Fed's Powell highlights slowing job market in signal that rate cuts may be nearing
Economy|Finance|News|US

Is inflation still cooling? Thursday's report on June prices will provide clues

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

Is inflation still cooling? Thursday's report on June prices will provide clues
Economy|Finance|News

Powell says Federal Reserve is more confident inflation is slowing to its target

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

Powell says Federal Reserve is more confident inflation is slowing to its target
Business|Economy|Finance|News|US

Ex-regional Fed president: Inflation headed lower, with interest rates likely to follow

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

Ex-regional Fed president: Inflation headed lower, with interest rates likely to follow
Economy|Election|US

Harris will carry Biden's economic record into the election. She hopes to turn it into an asset

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

Harris will carry Biden's economic record into the election. She hopes to turn it into an asset

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