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CHRISTOPHER RUGABER
Chris Rugaber covers the economy and the Federal Reserve
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Wealthier Americans are driving retail spending and powering US economy
It’s a trend that has surprised many: Why, despite being squeezed by high prices, have Americans kept spending at retail stores and restaurants at a robust pace?
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US shoppers spent more at retailers last month in latest sign consumers are driving growth
Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices.
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Trump’s economic plans would worsen inflation, experts say
Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.”
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US consumer sentiment slips in October on frustration over high prices
Americans’ outlook on the economy soured a bit after two months of small gains, according to the University of Michigan’s consumer sentiment index, released Friday.
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US inflation reaches lowest point in 3 years, though some price pressures remain
Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race.
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Fed Chair Powell says the US economy is in ‘solid shape’ with gradual rate cuts coming
Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.
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Fed’s favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
The Federal Reserve’s preferred inflation measure provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts.
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Richmond Fed president urges caution on interest rate cuts because inflation isn’t defeated
A Federal Reserve official says he supports reducing the central bank’s key interest rate somewhat from its current level.
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The Fed sees its inflation fight as a success. Will the public eventually agree?
With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years.
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Federal Reserve signals end to inflation fight with a sizable half-point rate cut
The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for consumers.
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US retail sales ticked up last month in sign of ongoing consumer resilience
Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate.
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Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?
American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it’s cutting its key interest rate from a two-decade peak.
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US consumer sentiment ticks higher for second month but remains subdued
Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture.
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Treasury proposes rule to prevent large corporations from evading income taxes
The Biden administration has proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes.
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Wholesale inflation mostly cooled last month in latest sign that price pressures are slowing
U.S. wholesale price increases mostly slowed last month, the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week.
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Annual US consumer inflation fell to 2.5% in August, a 3-year low
The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates and likely shaping the economic debate in the final weeks of the presidential race.
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Americans’ inflation-adjusted incomes rebounded to pre-pandemic levels last year
The inflation-adjusted median income of U.S. households rebounded last year to roughly its 2019 level, overcoming the biggest price spike in four decades to restore most Americans’ purchasing power.
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Sluggish US jobs report clears the way for Federal Reserve to cut interest rates
Hiring by America’s employers picked up a bit in August from July’s tepid pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.
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US job openings fall as demand for workers weakens
America’s employers posted fewer job openings in July than they had the previous month, a sign that hiring could further cool in the coming months.
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The Fed welcomes a ‘soft landing’ even if many Americans don’t feel like cheering
When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated.
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Federal Reserve’s favored inflation gauge shows price pressures easing as rate cuts near
An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years.
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Powell at Jackson Hole: ‘The time has come’ for the Fed to soon begin reducing interest rates
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.
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Fed minutes: Most officials favored a rate cut in September if inflation continued to cool
Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool.
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Powell may use Jackson Hole speech to hint at how fast and how far the Fed could cut rates
Federal Reserve officials have said they’re increasingly confident that they’ve nearly tamed inflation.
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What is ‘price gouging’ and why is VP Harris proposing to ban it?
Vice President Kamala Harris has proposed a ban on “price gouging” by food suppliers and grocery stores, as part of a broader agenda aimed at lowering the cost of housing, medicine, and food.
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FACT FOCUS: A look at Harris’ economic agenda
Harris was referring to Trump’s proposal to impose a tariff of 10% to 20% on all imports — he has mentioned both figures — and up to 60% on imports from China.
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US shoppers sharply boosted spending at retailers in July despite higher prices
Americans stepped up spending at retailers last month by the most in a year and a half, easing concerns that the economy might be weakening under the pressure of higher prices and elevated interest rates.
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Top official says Federal Reserve can’t risk being too late with rate cuts
A top Federal Reserve official warned that the central bank needs to cut its key interest rate before the job market weakened further or the Fed would risk moving too late and potentially imperil the economy.
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Annual US inflation falls to 3-year low, clearing the way for the Fed to begin cutting rates
Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.
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Vance backs Trump’s support for a presidential ‘say’ on Federal Reserve’s interest rate policy
JD Vance has endorsed former President Donald Trump’s call for the White House to have “a say” over the Federal Reserve’s interest rate policies — a view that runs counter to decades of economic research suggesting that politically independent central banks are essential to controlling inflation and
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