Federal Reserve official says fighting inflation likely to be ‘painful’
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said in a speech in London that the Fed is facing a series of persistent supply shocks that have driven...
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Federal Reserve rate hike reflects new world of sticky inflation and faster growth
President Donald Trump has renewed his attacks on the Federal Reserve after it hiked its benchmark interest rate Wednesday, but the Fed matters less than broader economic trends when it...
US inflation accelerated last month as gas prices spiked, squeezing Americans’ finances
U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many...
Kevin Warsh to say Fed has ‘no tolerance’ for high inflation but provides no hints on next move
Federal Reserve Chair Kevin Warsh said in written testimony Tuesday the Fed will make high inflation “a thing of the past,” yet provided no signal about the central bank’s next...
Federal Reserve Chair Kevin Warsh emphasizes political independence, signals focus on inflation
New Federal Reserve Chair Kevin Warsh said Wednesday that the central bank would remain independent and seek to bring down inflation, likely foreclosing the rate cuts President Donald Trump has...
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards.
Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Trump as...
A quieter Federal Reserve could mean volatile markets, higher rates
In his first press conference Wednesday, new chair Kevin Warsh began to reverse some of the Federal Reserve's communications.
Federal Reserve keeps rate unchanged, but nearly half of policymakers would support hike this year
The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank’s policymakers said they could support a rate hike later this year.
Key inflation gauge worsens as Americans’ income and spending power erodes
A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans’ finances.