Tag: inflation
A key inflation gauge tracked by the Fed slowed in February
WASHINGTON (AP) – The Federal Reserve's favored inflation gauge slowed sharply last month, an encouraging sign in the Fed's yearlong effort to cool price...
U.S. revises down last quarter’s economic growth to 2.6% rate
WASHINGTON (AP) – The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the...
U.S. consumer confidence ticks up in March
WASHINGTON (AP) – Consumer confidence inched up in March after two straight monthly declines, even as persistent inflation, bank collapses and anxiety over a...
Fed raises key rate by quarter-point despite bank turmoil
WASHINGTON (AP) – The Federal Reserve extended its yearlong fight against high inflation Wednesday by raising its key interest rate a quarter-point despite concerns...
Credit card debt is at record high
NEW YORK (AP) – With the Federal Reserve deciding Wednesday to raise interest rates again, credit card debt is already at a record high,...
U.S. wholesale inflation fell last month on lower food costs
WASHINGTON (AP) – Wholesale price increases in the United States slowed sharply last month as food costs declined, a sign that inflationary pressures may...
Biden budget aims to cut deficits nearly $3T over 10 years
WASHINGTON (AP) – President Joe Biden's upcoming budget proposal aims to cut deficits by nearly $3 trillion over the next decade, according to an...
Inflation pressures put Powell in spotlight before Congress
WASHINGTON (AP) – When Federal Reserve Chair Jerome Powell last appeared before Congress, in June 2022, inflation had reached a four-decade high of nearly...
Key U.S. inflation measure surges at fastest rate since June
WASHINGTON (AP) – The Federal Reserve's preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures...
Fed’s Barkin: ‘Slow progress’ on inflation, sees more hikes
WASHINGTON (AP) – A top Federal Reserve official downplayed recent signs that the economy is strengthening, but also said he is prepared to keep...
