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Inflation Report Is
Better Than Expected
Nov 14, 2023 8:06 AM CST
Inflation Report Is Better Than Expected
It cools off in October to 3.2%
- The new inflation report is out, and it's likely to make the Federal Reserve pretty happy: It cooled down last month in a sign that the Fed's interest rate hikes are having the desired effect, per the AP .
Tuesday's report from the Labor Department showed
Big Banks Warn
Nov 4, 2023 7:00 AM CDT
Big Banks Warn Customers of Deposit Delays
'Manual error' said to cause 'processing issue' at Chase, Bank of America, Wells Fargo, others
- Deposits at major banks across the nation were delayed Friday, due to what the Federal Reserve is calling a "processing issue" caused by human error. CNN Business reports that customers at Bank of America, Chase, Wells Fargo, US Bank, and Truist started complaining about the problem Friday morning, with...
Labor Market Cools Off
Nov 3, 2023 8:17 AM CDT
Labor Market Cools Off
Employers add 150K jobs in October, less than expected but still seen as a solid figure
- The nation's employers scaled back their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market remains resilient despite economic uncertainties and high interest rates that have made borrowing much costlier for companies and consumers. Last month's job growth, though...
Nov 1, 2023 3:29 PM CDT
Markets Welcome Fed Chief's Latest Remarks
Powell says other factors are slowing economy, suggesting rate hikes could be over
- US stocks rallied after the Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy.
The S&P 500 rose 44.06 points, or 1.1%, to 4,237.86.
The Dow Jones Industrial Average rose 221.71 points, or 0.
Fed Holds Key Rate
at 22-Year High
Nov 1, 2023 1:19 PM CDT
Fed Holds Key Rate at 22-Year High
Central bank says households, businesses are facing tighter credit conditions
- The Federal Reserve held its key interest rate steady at a 22-year high on Wednesday—but the central bank left open the possibility of another rise in the months ahead. The
Wall Street Journal
reports that while inflation has slowed, officials could raise rates in December or January if it...
Prices Continue to Rise
More Than the Fed Wants
Oct 12, 2023 8:41 AM CDT
Prices Continue to Rise More Than the Fed Wants
But in general, inflation continues its slow downward trend
- The latest inflation report shows that prices are still rising faster than the Federal Reserve would like, though inflation generally remains on a slow and uneven downward trajectory:
Prices in the US increased 0.4% from August to September, down from a faster pace the previous month,
Fed Rate Hikes May
Finally Be Over
Oct 11, 2023 2:00 PM CDT
Fed Rate Hikes May Finally Be Over
Officials say market moves are starting to tame inflation by themselves
- After raising its benchmark interest rate from near zero to more than 5.25% over 19 months, the Federal Reserve may finally be done with its program of rate hikes. The Fed has been raising short-term borrowing costs to tame inflation, but officials say the raises are now affecting long-term...
Federal Reserve Leaves
Key Rate Unchanged
Sep 20, 2023 1:22 PM CDT
Federal Reserve Leaves Key Rate Unchanged
But rates will likely go up again before the year is out and stay high in 2024
- The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it's moderating its fight against inflation as price pressures have eased. But Fed officials also signaled that they expect to raise rates once more this year, the...
Fed Chief: 'We Are Prepared
to Raise Rates Further'
Aug 25, 2023 9:49 AM CDT
Fed Chief: 'We Are Prepared to Raise Rates Further'
Jerome Powell gives a closely watched update
- The continued resilience of the US economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have...
Yearlong Streak of Inflation
Decline Has Come to an End
Aug 10, 2023 8:13 AM CDT
Yearlong Streak of Inflation Decline Has Come to an End
Inflation in US ticked up by 0.2% from June, with consumer prices up 3.2% from a year earlier
- Inflation in the United States rose in July after 12 straight months of declines, boosted by costlier housing. But excluding volatile food and energy prices, so-called core inflation rose just 0.2% from June, matching the smallest monthly increase in nearly two years, per the AP . The inflation figure the...
Fed Chair Says US
May Have Dodged Recession
Jul 27, 2023 6:37 AM CDT
Fed Chair Says US May Have Dodged Recession
Congressional Budget Office is also predicting 'soft landing'
- The Federal Reserve believes its policies may have helped the US economy avoid recession and achieve a "soft landing," a possibility analysts once saw as remote. In remarks after the latest interest rate rise was announced Wednesday, Fed Chair Jerome Powell said the central bank is no longer...
Fed Hikes Interest Rates
to a 22-Year High
Jul 26, 2023 1:05 PM CDT
Fed Hikes Interest Rates to a 22-Year High
Quarter-point increase is 11th in 17 months
- The expectation was that the Federal Reserve would lift its key interest rate for the 11th time in 17 months, and that's exactly what came to pass on Wednesday. The quarter-point hike brings the the Fed's short-term rate to roughly 5.3%, the highest level since 2001. As...
Finally, the Curves Flip
on Paychecks, Inflation
Jul 17, 2023 7:28 AM CDT
Finally, the Curves Flip on Paychecks, Inflation
After 2 years, wages hikes are finally rising faster than inflation
- Generally speaking, Americans have been getting pay raises over the last two years—it just hasn't felt like it because prices were rising even more. Finally, however, wage increases have begun to outpace inflation, reports the
Wall Street Journal
. Average hourly wages, after being adjusted for inflation, rose 1....
Us Out of a
Jul 14, 2023 11:04 AM CDT
Could Taylor Swift Keep Us Out of a Recession?
Federal Reserve gives nod to her Eras Tour, 'influx' of fans for their economic impact
- Taylor Swift has been impressing fans and critics alike during her current Eras Tour, and ticket sales show no signs of slowing. But it's more than just her music that's been having an impact—the Federal Reserve says the singer has had a marked effect on the economy,...
Wall St. Drifts Lower
as China Worries
Hit World Markets
Jul 5, 2023 3:37 PM CDT
Wall St. Drifts Lower as China Worries Hit World Markets
With Twitter rival on the way, Meta was among the winners
- Wall Street edged lower Wednesday following a rally that sent it roaring 16% higher for the year so far. The S&P 500 fell 8.77 points, or 0.2%, to 4,446.82, edging down from its highest level since April 2022. The Dow Jones Industrial Average fell 129....
'What Can I
Say?' I'm a
Jun 22, 2023 12:39 PM CDT
Fed Chair: 'What Can I Say?' I'm a Deadhead
At House hearing, Jerome Powell raves about recent Dead & Company show
- A blurry photo taken at a Dead & Company concert in Virginia earlier this month caused quite a stir on social media. Viewed 2.8 million times as of this writing, it shows a gray-haired man in a collared shirt and baseball cap among the crowd of fans watching the...
Benchmark S&P on Longest
Streak Since Late 2021
Jun 15, 2023 3:16 PM CDT
Benchmark S&P on Longest Streak Since Late 2021
Index rises more than 1%, and Dow was up nearly 430 points
- Wall Street surged on Thursday following a weak start, one day after the Federal Reserve paused its rate hikes (if only temporarily).
The Dow rose 428 points, or 1.2%, to 34,408.
The S&P 500 rose 53 points, or 1.2%, to 4,425. That is the benchmark
The Federal Reserve Gives
Us a Skip and a Surprise
Jun 14, 2023 1:13 PM CDT
The Federal Reserve Gives Us a Skip and a Surprise
Leaves interest rates alone for first time in 15 months, but 2 more hikes could come
- After a 10-meeting run of raising interest rates, the Federal Reserve on Wednesday decided to leave rates alone—but in a surprise, indicated two more hikes could come before 2023 is through, reports CNBC . The decision is being viewed as more of a "skip" than a pause and leaves...
Fed Raises Benchmark
Interest Rate to a 16-Year High
May 3, 2023 2:13 PM CDT
Fed Raises Benchmark Interest Rate to a 16-Year High
But the next move could be a cut
This story has been updated with remarks from Fed officials
. The Federal Reserve hiked its benchmark interest rate for the 10th time on Wednesday in what analysts predict could be the last rise for now in the central bank's fight against inflation. The Fed signaled that a pause could...
From the Fed
May 2, 2023 2:00 AM CDT
Here's What's Likely Coming From the Fed Wednesday
Another rate hike, but maybe a hint at an upcoming pause as well
- The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what the...
Stories 1 - 20 |
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