A price gauge closely monitored by the Fed rose just 3% in June from a year earlier, which is down from a 3.8% annual increase in May, but still above the Fed’s 2% inflation target.
inflation
Posted inBusiness, Nation & World, News
Federal Reserve raises its key rate for 11th time by a quarter-point in its drive to slow inflation
Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing.
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Posted inBusiness, Politics
As inflation falls, Republicans may have to rethink attacks on Biden economy
Soaring prices have given Republican lawmakers a powerful talking point, but its potency may begin to fade.
Posted inBusiness, Nation & World, News
Inflation drops to lowest levels since March 2021 as economy cools
Wages are now rising faster than prices. The Federal Reserve isn’t ready to declare victory yet, since inflation isn’t consistently falling yet.
Posted inBusiness, Nation & World, News, Politics
Fed Chair reinforces likelihood of more interest rate hikes due to persistently high inflation
The central bank has raised its benchmark rate aggressively since March 2022 in a push to slow the economy and reduce inflationary pressure.
Posted inBusiness, Nation & World, News
Fed’s Powell says higher interest rates needed to curb inflation
The Federal Open Market Committee paused its series of interest-rate increases last week for the first time in 15 months, leaving rates in a range of 5% to 5.25%.
Posted inBusiness, Nation & World, News
U.S. inflation slows, giving room for Fed to pause rate hikes
The Fed will likely announce that it’s skipping a rate hike but may resume raising rates as soon as July.
Posted inBusiness
U.S. prices stay high, showing inflation pressures persist
Inflation eased for a 10th straight month, but prices are still increasing faster than normal.
Posted inBusiness, Nation & World, News
Cheaper gas and food provide some relief from U.S. inflation
Consumer prices were up just 5% in March, down sharply from February’s 6% year-over-year increase and the mildest such rise in nearly 2 years.
Posted inTimes Record Opinion
The Conversation: SVB’s newfangled failure fits a century-old pattern of bank runs, with a social media twist
THE CONVERSATION — The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse. Usually banks, like all companies, fail after a prolonged period of lackluster performance. But SVB, the […]