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Powell鈥檚 stark message: Inflation fight may cause recession
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
How much “pain”? Fed to signal more rate hikes ahead
Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain." On Wednesday,...
U.S. wholesale inflation fell in July for 1st time in 2 years
Prices at the wholesale level fell from June to July, the first month-to-month drop in more than two years and a sign that some of the U.S. economy's inflationary pressures...
Inflation and wage data suggest U.S. prices will keep climbing
Inflation surged in June and workers' average wages accelerated in the spring — signs that Americans won't likely feel any relief from rising prices anytime soon and that the Federal...
Yellen downplays U.S. recession risk as economic reports loom
Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.
Fed attacks inflation with its largest rate hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three...
EXPLAINER: Just how high is the risk of another recession?
Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this...
U.S. inflation hit a new 40-year high last month of 8.6%
The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs.
US inflation dips from 4-decade high but still causing pain
WASHINGTON (AP) — Inflation eased slightly in April after months of relentless increases but remained near a four-decade high, making it hard for millions of American households to keep up...
A key inflation gauge jumped 6.6% in March, most since 1982
An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking...