US economy shrinks, threats loom, but growth likely to last
WASHINGTON (AP) — The U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates, yet economists foresee a return...
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A key inflation gauge sets 40-year high as gas and food soar
An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities...
U.S. growth in Q4 revised lower to 6.9%, slower growth to come
The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates.
US inflation soared 7.9% in past year, a fresh 40-year high
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher...
Powell expects a quarter-point Fed rate hike this month
WASHINGTON (AP) — Chair Jerome Powell said Wednesday that he supports a traditional quarter-point increase in the Federal Reserve's benchmark short-term interest rate when the Fed meets later this month,...
AP FACT CHECK: Biden鈥檚 State of the Union is off on guns, EVs
President Joe Biden related a faulty Democratic talking point about guns in his first State of the Union speech, made his plan on electric vehicles sound more advanced than it...
Key inflation gauge hit 6.1% in January, highest since 1982
An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases...
Federal Reserve officials push back on rapid interest rate hikes
The Federal Reserve should start raising interest rates next month to help rein in too-high inflation, Federal Reserve Bank of New York President John Williams said Friday. But he added...
U.S. inflation jumped 7.5% in the past year, a 40-year high
Inflation soared over the past year at its highest rate in four decades, hammering America鈥檚 consumers, wiping out pay raises and reinforcing the Federal Reserve鈥檚 decision to begin raising borrowing...
U.S. economy defies omicron and adds 467,000 jobs in January
In a surprising burst of hiring, American’s employers added 467,000 jobs in January in a sign of the economy’s resilience even in the face of a wave of omicron infections...