Tag: Breaking News: Economy
Powell vows to prevent inflation from taking hold in the U.S. for the long run
Federal Reserve Chair Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term.
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Core personal consumption expenditures prices, excluding food and energy, rose 4.7% from a year ago, slightly less than expected.
Powell vows to prevent inflation from taking long-run hold in the U.S.
Federal Reserve Chairman Jerome Powell vowed Wednesday that policymakers would not allow inflation to take hold of the U.S. economy over the longer term.
New York Fed President John Williams says a U.S. recession is not his base case
New York Fed President John Williams said he expects the economy to avoid recession even as he sees significantly higher rates to control inflation.
Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation
Federal Reserve Chair Jerome Powell on Thursday concluded two days of testimony in front of Congress, speaking in front of House members.
Powell vows that the Fed is 'acutely focused' on bringing down inflation
Federal Reserve Chairman Jerome Powell on Friday reiterated the central bank's commitment to bringing down inflation.
Fed promises 'unconditional' approach to taking down inflation in report to Congress
Federal Reserve officials rolled out strong language Friday to describe their approach to inflation, promising a full-fledged effort to restore price stability.
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.
Here's everything the Fed is expected to announce, including the biggest rate hike in 28 years
The Federal Reserve on Wednesday is expected to do something it hasn't done in 28 years — increase interest rates by three-quarters of a percentage point.
Fed likely to boost interest rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of rate hikes, and Fed officials apparently will satisfy growing expectations.
Inflation rose 8.6% in May, highest since 1981
The consumer price index for May was expected to increase 8.3% from a year ago, according to Dow Jones estimates.
Strong inflation, anxious consumers add up to more worries that recession has already arrived
The case that a recession is looming over the U.S. got stronger Friday amid blistering inflation and historic lows in consumer sentiment.
Bringing inflation down is going to take time, patience — and pain
Tackling runaway inflation won't be easy and it won't be quick, and it may carry a steep price tag that is just beginning to be paid.
Fed GDP tracker shows the economy could be on the brink of a recession
The Atlanta Fed's GDPNow tracker is now pointing to an annualized gain of just 0.9% for the second quarter.
Mortgage demand falls to the lowest level in 22 years amid rising rates and slowing home sales
Mortgage demand continues to fall as interest rates rise further and affordability in the housing market weakens.
