By CNN — Wholesale price inflation unexpectedly accelerated in June to its highest rate since March 2023. That’s an unwelcome development for the US economy one day after the government announced that consumer prices declined on a monthly basis for the first time in four years. The Producer Price Index, a measurement of average price…
By In June, shelter prices rose 0.2%, their lowest monthly jump in nearly three years, according to the consumer price index. But a jump is a jump, and overall, you could say the price of shelter has been hopping. Up 5.2% over 12 months, it’s a big factor keeping inflation from reaching the Federal Reserve’s…
By Federal Reserve officials have held interest rates at 5.3 percent, more than a two-decade high, for a full year. And as those borrowing costs weigh on growth and the labor market, policymakers are facing increasing political pressure to cut them.Central bankers are keeping rates high to make it more expensive to borrow for big…
By IE 11 is not supported. For an optimal experience visit our site on another browser.July 8, 202403:18Now PlayingWall Street waits for key inflation report which could reveal more clues about the economy03:18UP NEXTRetailers try to lure shoppers with July 4 sales01:34Dave & Buster’s, TouchTunes are bringing online betting to arcade and bar games02:55Trump slams…
By The economy has performed well enough over the first half of 2024, with inflationary increases moderating, jobs still plentiful and no serious recession risks on the horizon. The financial markets have fared even better, with stocks up a solid 15% over the first six months.All of that doesn’t mean Americans are happy on balance,…
By The trajectory of inflation has not given central bankers much cause for celebration in recent years. But at the European Central Bank’s annual jamboree in Sintra, Portugal, this week, a touch of self-congratulation has been in the air. “I know it sounds a little bit arrogant,” confessed Christine Lagarde, the ECB’s president, on July…
By Jerome H. Powell, the chair of the Federal Reserve, said that inflation was once again coming down in the United States and that the Fed had “made quite a bit of progress” in cooling price increases back toward its goal.Inflation “now shows signs of resuming its disinflationary trend,” Mr. Powell said on Tuesday at…
By U.S. consumers are so fed up with rising prices they would rather see the economy shrink than watch their costs get any higher, according to Neel Kashkari, president of the Federal Reserve Bank of Minneapolis.As a result Kashkari, who has led the organization since January 2016, had some bad news for Wall Street: he…
By Inflation in the U.S. is unlikely to fall to the Federal Reserve’s 2% target for at least three more years, according to a new report published by the Cleveland Federal Reserve Bank.The findings suggest the pandemic-era shocks that stoked high inflation, including supply chain disruptions and rabid consumer demand, have been resolved, but that…
By WASHINGTON — 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.Friday’s report from the Commerce Department showed that an index that excludes volatile food and energy costs rose 0.2% from March to April,…