Fed holds rates steady at 23-year high, projects just one cut this year
Federal Reserve policymakers on Wednesday voted to keep interest rates unchanged again as inflation in the U.S. remains notably higher than their 2% target.
Inflation rises 3.3% in May, less than expected
The Labor Department on Wednesday released the closely watched May consumer price index report, revealing just how hot inflation was running last month.
The US economy is facing its 'two biggest issues' in one day. What to know
The U.S. economy faces a rare doubleheader on Wednesday, with fresh inflation data due in the morning and a Federal Reserve decision coming hours later.
Americans' inflation expectations creep higher again, key NY Fed survey shows
A New York Federal Reserve survey published on Monday found that many American consumers expect inflation to remain abnormally high in the coming years.
US job growth jumps by 272K in May while unemployment unexpectedly rises
The May jobs report released Friday provided a look at the labor market's health as the economy continues to confront high interest rates and inflation.
White-collar workers are struggling to find jobs as the labor market slows
A new report published by Vanguard shows the hiring rate for white-collar workers earning more than $100,000 has slowed to the lowest level since 2014.
Private sector job growth cools in May to 152,000, worse than expected: ADP
Hiring by private U.S. companies rose less than forecast in May, a sign that the labor market is starting to slow in the face of higher interest rates.
Americans with adjustable mortgages could soon see their payments skyrocket
Hundreds of thousands of U.S. homeowners who took out adjustable mortgages in 2019 could soon see their monthly payments skyrocket as their rates reset.
Job openings unexpectedly fall in April to lowest level in 3 years
The number of available jobs fell more than expected in April to 8.1 million, a sign the labor market is cooling in the face of higher interest rates.
Fed president: People would rather have recession than high inflation
Federal Reserve Bank of Minneapolis President Neel Kashkari shares what he learned about the pain of inflation on American consumers during a recent podcast.
Inflation will take years to fall to 2% target, according to Cleveland Fed model
A new report published by the Cleveland Federal Reserve Bank found that it could take several years for inflation to return to the central bank's 2% goal.
Inflation measure closely watched by the Fed rises 0.3% in April
The Federal Reserve's favorite measure of tracking inflation climbed 0.3% in April as American families continue to grapple with elevated consumer prices.
Fed's Bostic signals central bank unlikely to cut interest rates in July
Atlanta Federal Reserve President Raphael Bostic signaled Thursday that he would not support an interest rate cut in July amid signs of sticky inflation.
Higher interest rates could cost US companies $380B in 'slowly unfolding crisis'
Companies that refinance between this year and 2030 will pay an additional $381 billion in interest costs thanks to the rapid spike in borrowing costs.
Fed's Kashkari wants to see 'many more months' of good inflation data before cutting rates
Minneapolis Federal Reserve President Neel Kashkari said the U.S. central bank should wait for more progress on inflation before reducing interest rates.
Housing prices soar to a new all-time high in March
U.S. home prices continued to soar higher March, according to data published Tuesday, as would-be homebuyers compete for a scarce number of homes for sale.
Former Fed official's bank set to receive rare master account approval, raising eyebrows
Numisma, a small bank founded by former Fed official Randal Quarles, received conditional approval for a master account, a highly sought-after service denied to most uninsured institutions.
MSNBC's Ruhle wants 'economic explainer' to tell 'confused' Americans they're 'doing quite well'
Stephanie Ruhle noted that consumer frustration with how some items have become luxuries in the current economy, but argued they are ultimately unaware of how good they have it.
Fed meeting minutes show some 'willingness' to hike rates again
Federal Reserve officials expressed concern during their May policy-setting meeting that inflation within the economy could remain uncomfortably high.
High inflation is still a burden to Americans – especially parents, Fed survey shows
A new report published by the Federal Reserve shows that a majority of Americans think that elevated inflation made their financial lives worse in 2023.