Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession
Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to…
Breaking News: Economy
Fed’s preferred inflation measure rose 4.7% in May, around multi-decade highs
Inflation held at stubbornly high levels in May, though the monthly increased was slightly less than expected, according to a Commerce Department gauge closely watched by the…
Powell vows to prevent inflation from taking long-run hold in the U.S.
U.S. Federal Reserve Board Chair Jerome Powell testifies before a House Financial Services Committee hearing in Washington, U.S., June 23, 2022. Mary F. Calvert | Reuters…
Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum
[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a…
New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to…
Abysmal manufacturing surveys are the latest signs of a major economic slowdown
Dismal regional manufacturing readings are sounding alarm bells that business activity is slowing down heading into the summer. The latest bad news came Monday out of Texas, where…
Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly
A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, Feb. 5, 2022. Kathryn Gamble | Bloomberg | Getty Images A widely…
Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation
[This stream is set to start at 9:30 a.m. ET.] Federal Reserve Chair Jerome Powell on Thursday concluded two days of testimony in front of Congress, speaking in front of House…
U.S. weekly jobless claims grind lower amid tight labor market
People walk past a “We’re Hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliery | AFP | Getty Images The number of…
Powell tells Congress the Fed is ‘strongly committed’ to bringing inflation down
Federal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to bringing down inflation and has the ability to make that…
Watch Powell’s testimony to Congress on the Fed’s inflation fight, state of the economy
[The stream is set to start at 9:30 a.m. ET] Federal Reserve Chair Jerome Powell on Wednesday began two days of testimony in front of Congress. The central bank chief is expected…
Sales of existing homes fell in May, and more declines are expected
A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Sales of existing homes in May fell…
Bank of America economist says his ‘worst fears around the Fed have been confirmed’
The Federal Reserve waited too long to start fighting inflation and now runs the risk of dragging the economy into a recession, according to Bank of America’s top economist.…
Fed promises ‘unconditional’ approach to taking down inflation in report to Congress
U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a…
Powell vows that the Fed is ‘acutely focused’ on bringing down inflation
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a…
Everyone knows inflation is on fire. But here’s what’s really fueling it
Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen…
Fed members predict more hikes with the benchmark rate above 3% by year-end
U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in…
Fed hikes its benchmark interest rate by three-quarters of a point, the biggest increase since 1994
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates…
Retail sales posted unexpected 0.3% decline in May as inflation hammers consumers
Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance retail and food service spending…
Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years
US Federal Reserve Chairman Jerome Powell speaks during a news conference in Washington, DC, on May 4, 2022. Jim Watson | AFP | Getty Images The Federal Reserve on Wednesday is…
The Fed’s balance sheet reduction officially starts Wednesday. Here’s how it works
In addition to an almost certain interest rate increase, the Federal Reserve on Wednesday will begin reducing its asset holdings, a process that is expected to drain trillions of…
Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose 10.8% in May, near a record annual pace
Fed likely to boost interest rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating the possibility as well. Central bank…
Markets are now bracing for the possibility of bigger Fed interest rate hikes ahead
As inflation climbs to new 40-year highs, expectations for interest rate increases from the Federal Reserve are escalating as well. With the rate-setting Federal Open Market…
Strong inflation, anxious consumers add up to more worries that recession has already arrived
Trays of beef are for sale in the meat section of a supermarket in McLean, Virginia, June 10, 2022. Saul Loeb | AFP | Getty Images The case that a recession is looming over the…
Inflation rose 8.6% in May, highest since 1981
Inflation accelerated further in May, with prices rising 8.6% from a year ago for the fastest increase since 1981, the Bureau of Labor Statistics reported Friday. The consumer…
Bringing inflation down is going to take time, patience — and pain
Products are seen in a supermarket, in Los Angeles, California, May 27, 2022. Lucy Nicholson | Reuters Tackling runaway inflation won’t be easy and it won’t be quick,…
Disney fires TV content chief Peter Rice, source says
Peter Rice, then-chairman and chief executive officer of Fox Networks Group Inc., speaks at the Milken Institute Global Conference in Beverly Hills, California, May 3, 2017. David…
Weekly jobless claims hit 229,000, the highest level since January
A man walks past a “We’re Hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliery | AFP | Getty Images Initial…
Mortgage demand falls to the lowest level in 22 years, amid rising rates and slowing home sales
Real estate agents Rosa Arrigo, center, and Elisa Rosen, right, work an open house in West Hempstead, New York. Newsday LLC | Newsday | Getty Images Mortgage rates are back on the…