Federal Reserve Chair Jerome Powell is on Capitol Hill for the first of 2 days of his semiannual monetary policy testimony and is scheduled to appear before the Senate Banking Committee on Thursday.
inflation
Posted inBusiness, Nation / World
Federal Reserve’s preferred inflation gauge picked up last month in sign of still-elevated prices
It’s the latest sign that the slowdown in consumer price increases is occurring unevenly from month to month.
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Posted inBusiness, Nation / World, News
U.S. inflation slows but remains elevated as price pressures are easing only gradually
Tuesday’s sticky inflation data sent stock and bond prices tumbling, with financial markets now envisioning the Fed’s first cut rates in June, rather than in May or March.
Posted inBusiness, Nation / World, News
Some Americans are saddled with credit card debt as rent and everyday prices remain high
Noticeable pockets of Americans – renters, and lower- and middle-income borrowers – are running up their credit cards balances, and increasing numbers are falling behind on their debts.
Posted inBusiness, Maine, News
The economy is booming. So, why don’t people feel better about it?
A disconnect exists between big-picture indicators like unemployment and wages and the reality of day-to-day life for many in Maine, where groceries and housing costs remain stubbornly high.
Posted inBusiness, Nation / World, News
Inflation has fallen. Why are groceries still so expensive?
Grocery prices have jumped by 25% over the past four years, outpacing overall inflation of 19% during the same period.
Posted inBusiness
Americans’ economic outlook brightens as inflation slows, wages outpace prices
Economists say consumers appear to be responding to steadily slower inflation, higher incomes, lower gas prices and a rising stock market.
Posted inBusiness, Nation / World
U.S. inflation edges up in December, fueled by food and housing prices
Excluding volatile food and energy costs, though, so-called core prices rose mildly month over month.
Posted inBusiness
U.S. inflation is set to fade in 2024 as goods prices keep falling
Goods prices overall have stopped rising and some, like those for cars, are falling.
Posted inBusiness, Nation / World, News
Everyone expected a recession. The Fed and White House found a way out.
Even though bankers and politicians urge caution and Americans complain that costs haven’t reverted to pre-pandemic level, the economy has bested all expectations for the year.