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Christopher RugaberRealClearPolitics |
Compared with a year earlier, the Fed's preferred gauge of inflation declined to 2.5% from 2.6%.
The Fed chair suggested that inflation doesn't need to drop all the way to 2% for the Fed to start cutting rates.
In a better-than-expected report from the government, consumer prices declined 0.1% from May to June after having remained flat the previous month.
“There is broad support for the principles underlying independent monetary policy,” the Fed said.
Fed officials still want to see annual price growth slow further toward their 2% target before cutting rates.
The pattern of shopper anxiety has continued since the pandemic, particularly when inflation spiked in 2022.
The Fed's benchmark interest rate hasn't budged since July of last year.
Core PCE from March to April rose at the slowest rate this year.
The Fed's mandate is to strike a balance between keeping rates high enough to control inflation yet not so high as to damage the job market.
Federal Reserve minutes show central bankers reevaluating their main tool for fighting inflation.
Prices rose 0.3% from March to April, the Labor Department said Wednesday, down slightly from 0.4% the previous month.
But the Fed chair "wouldn't call it hot," saying the wholesale inflation report was "sort of mixed."
The Fed "has virtually no standing to entertain rate cuts this summer," said one economist.
A major concern expressed by both Fed policymakers and some economists is that higher borrowing costs aren't having as much of an impact as...
The University of Michigan’s consumer sentiment index dropped to 67.4 this month from a final reading of 77.2 in April.
Several hotter-than-expected reports on prices and economic growth have recently undercut the Fed’s belief that inflation was steadily easing.
It's the so-called “wealth effect," whereby rising home and stock values give people confidence to increase their spending.
Measured by the PCE index, prices were up 2.7% year-over-year in March, up from a 2.5% annual rise in February.
“Recent data have clearly not given us greater confidence" that inflation is coming fully under control, the Federal Reserve chair said during a...
Fed vice chair Philip Jefferson joins a chorus of officials suggesting rate cuts are a long way away.
"Consumers are reserving judgment about the economy in light of the upcoming election," the survey's director said.
Per the minutes of the Fed's March 19-20 meeting, all 19 officials agreed that January and February data “had not increased their confidence” that...
Prices outside the volatile food and energy categories rose 0.4% from February to March, the same accelerated pace as in the previous month.
After more than a decade of subsidizing its automakers, China has built a substantial car industry that accounts for 60% of global electric vehicle...
“If the data is too strong, then why are we cutting?” asked Torsten Slok, chief economist at Apollo Global Management.
“The recent data do not ... materially change the overall picture,” Powell said in a speech at Stanford University.
But Fed officials also forecast stronger GDP growth and stubborn inflation, meaning interest rates would have to stay slightly higher for longer.
Large banks aggressively opposed the changes known as the “Basel III endgame,” arguing they would limit lending ability and exceed what is...
Stuart Dryden, a 37-year-old in Virginia, says he's been trying private-label groceries: "the quality is the same and it’s almost a no-brainer to...
“We need to verify that the progress on inflation we saw in the last half of 2023 will continue and this means there is no rush,” Christopher...
The producer price index — which tracks inflation before it reaches consumers — rose 0.3% in January after falling the month before.
Inflation in January fell to 3.1%, from 3.4% in December, but economists were expecting to see 2.9%.
Richmond Fed president Tom Barkin, in a speech Thursday, noted a 1986 surge after Paul Volcker cut rates. "I would love to avoid that roller-coaster...
Powell, in an interview recorded Thursday for the CBS news program “60 Minutes,” also said the nation's job market and economy are strong, with no...
The unemployment rate for workers in what the government calls the “information” sector jumped to 5.5% in January from 3.9% a year ago.
The core Personal Consumption Expenditures index rose 0.2% from November while cooling to 2.9% year-over-year—both lower than expected.
A measure of consumer sentiment by the University of Michigan has jumped in the past two months by the most since 1991.
Christopher Waller wrote to the Brookings Institution that he is "feeling more confident that the economy can continue along its current...
Fed Chair Jerome Powell has recently downplayed the idea that rate reductions are nearing.
The jobs report is expected to show that employers added a solid 172,500 jobs, according to a survey of economists, slightly exceeding October's...
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