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Rate cuts put on ice as consumer inflation surges to a 9-month high

“We're really not making progress on inflation right now,” said one economist.

previous day 30

Christopher Rugaber

Trump says he will announce 25% steel and aluminum tariffs Monday, with reciprocal import duties to follow

Trump also reaffirmed that he would announce “reciprocal tariffs” — “probably Tuesday or Wednesday.”

10.02.2025 10

Christopher Rugaber

Trump budget chief effectively shuts down Consumer Financial Protection Bureau, ordering watchdog to stop nearly all its work

The bureau can still take complaints, but it can’t conduct exams or pursue existing investigations.

10.02.2025 20

Christopher Rugaber

The Fed just cut its key rate by a quarter-point, predicting fewer reductions next year as inflation remains stubbornly high

The dollar index is trading close to its highest level in more than two decades.

18.12.2024 5

Christopher Rugaber

Federal Reserve will likely slow its rate cuts in 2025 as inflation stays stubbornly high

Some economists question whether the Fed even needs to cut this week. Inflation, excluding volatile food and energy costs, has been stuck at an...

16.12.2024 10

Christopher Rugaber

Trump tips FTC commissioner Andrew Ferguson to replace Silicon Valley lightening rod Lina Khan as top antitrust enforcer

“Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country,” Trump wrote on Truth...

11.12.2024 10

Christopher Rugaber

Federal Reserve’s likely slowdown in rate cuts could make prospective homebuyers sad

Fewer rate cuts would likely mean continued high mortgage rates and other borrowing costs for consumers and businesses.

21.11.2024 2

Christopher Rugaber

Americans are spending big on cars and gadgets—and going into debt to do it

Sales in some categories fell — furniture stores, clothing outlets and drug stores, among them.

15.11.2024 2

Christopher Rugaber

Fed Chair Jerome Powell — no need to hurry on another interest rate cut

“The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said.

14.11.2024 1

Christopher Rugaber

Fed cuts rates again as inflation falls and Trump victory shifts economic climate

“We’re on a path to a more neutral stance,” the Fed chair said. “That has not changed at all. We’re just going to have to see where the data is...

08.11.2024 30

Christopher Rugaber

Fed prepares to boost economy with another rate cut as it faces uncertainty over Trump’s expected inflationary plans

Trump's election has also raised the specter of meddling by the White House in the Fed's policy decisions.

07.11.2024 10

Christopher Rugaber

The Fed’s go-to inflation monitor just dropped to the lowest level since the pandemic

With inflation continuing to slow, the Fed is expected to further reduce its rate by a quarter-point in November and likely by another...

31.10.2024 1

Christopher Rugaber

Wealthy consumers—boosted by big income, home equity and stock market gains—are fueling U.S. spending surge

Housing and stock values have soared in particular for the wealthiest one-tenth of Americans over the past four years.

18.10.2024 3

Christopher Rugaber

Fresh inflation data is here. And more jumbo Fed rate cuts seem unlikely

In remarks this week, a slew of Fed officials have said they’re still willing to keep cutting their key rate but at a deliberate pace, a signal...

10.10.2024 8

Christopher Rugaber

Powell says more rate cuts are coming in remarks praising ‘solid’ economy

“Overall, the economy is in solid shape,” Powell said in written remarks. “We intend to use our tools to keep it there.”

30.09.2024 2

Christopher Rugaber

Inflation is nearly at the Fed’s target and may be eroding Trump’s election edge

Compared with a year earlier, inflation fell to 2.2%, down from 2.5% in July and barely above the Fed's 2% inflation target.

27.09.2024 1

Christopher Rugaber

Fed president urges caution on interest rate cuts because inflation hasn’t been beaten yet

“I’m not yet ready to declare victory on inflation," Richmond Fed president Tom Barkin says.

27.09.2024 3

Christopher Rugaber

The Fed thinks it’s won its inflation fight but most Americans are still unhappy with the economy

Most Americans remain unhappy with the economy, still bruised by an inflation rate that hit a four-decade high two years ago as the economy...

23.09.2024 30

Christopher Rugaber

Federal Reserve signals end to inflation fight with a sizable half-point rate cut

WASHINGTON (AP) — The Federal Reserve on Wednesday cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more...

19.09.2024 10

Christopher Rugaber

‘Recession fears appear overblown’ as retail sales ticked up last month

On the verge of a Federal Reserve decision of just how much to cut rates, Americans boosted their spending yet again.

17.09.2024 2

Christopher Rugaber

The gender pay gap just grew for the first time in decades

The latest data came Tuesday in an annual report from the Census Bureau which says overall household income is up.

10.09.2024 1

Christopher Rugaber

U.S. economy adds 142,000 jobs in August and unemployment rate ticks down to 4.2 per cent

The unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.

06.09.2024 10

Christopher Rugaber

The Fed is predicting a ‘soft landing’ but Americans aren’t ready to celebrate

Though consumer sentiment is slowly rising, a majority of Americans in some surveys still complain about elevated prices.

03.09.2024 7

Christopher Rugaber

Jerome Powell to hint at rate cuts as inflation subsides, but job market challenges emerge

Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in ...

20.08.2024 10

Christopher Rugaber

Kamala Harris calls for a ban on price-gouging to battle high grocery costs

Grocery prices are still painfully high compared to four years ago.

17.08.2024 2

Christopher Rugaber

Penny-pinching consumers are slaying inflation, economists say

Still, a key question now is whether shoppers will pull back so much as to put the economy at risk.

12.08.2024 1

Christopher Rugaber

Fed chair Powell says a rate cut is close, but we’re ‘not quite’ there yet

Over time, lower Fed rates should reduce borrowing costs for consumers and businesses, including mortgage and auto-loan rates.

01.08.2024 3

Christopher Rugaber

Fed officials expected to cut rates only once in 2024 but now the market is betting on 3 cuts this year

A rate reduction this fall — the first since the pandemic — would amount to a momentous shift and a potential boost to the economy.

29.07.2024 5

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Rate cuts put on ice as consumer inflation surges to a 9-month high

Christopher Rugaber

Trump says he will announce 25% steel and aluminum tariffs Monday, with reciprocal import duties to follow

Christopher Rugaber

Trump budget chief effectively shuts down Consumer Financial Protection Bureau, ordering watchdog to stop nearly all its work

Christopher Rugaber

The Fed just cut its key rate by a quarter-point, predicting fewer reductions next year as inflation remains stubbornly high

Christopher Rugaber

Federal Reserve will likely slow its rate cuts in 2025 as inflation stays stubbornly high

Christopher Rugaber

Trump tips FTC commissioner Andrew Ferguson to replace Silicon Valley lightening rod Lina Khan as top antitrust enforcer

Christopher Rugaber

Federal Reserve’s likely slowdown in rate cuts could make prospective homebuyers sad

Christopher Rugaber

Americans are spending big on cars and gadgets—and going into debt to do it

Christopher Rugaber

Fed Chair Jerome Powell — no need to hurry on another interest rate cut

Christopher Rugaber

Fed cuts rates again as inflation falls and Trump victory shifts economic climate

Christopher Rugaber

Fed prepares to boost economy with another rate cut as it faces uncertainty over Trump’s expected inflationary plans

Christopher Rugaber

The Fed’s go-to inflation monitor just dropped to the lowest level since the pandemic

Christopher Rugaber

Wealthy consumers—boosted by big income, home equity and stock market gains—are fueling U.S. spending surge

Christopher Rugaber

Fresh inflation data is here. And more jumbo Fed rate cuts seem unlikely

Christopher Rugaber

Powell says more rate cuts are coming in remarks praising ‘solid’ economy

Christopher Rugaber

Inflation is nearly at the Fed’s target and may be eroding Trump’s election edge

Christopher Rugaber

Fed president urges caution on interest rate cuts because inflation hasn’t been beaten yet

Christopher Rugaber

The Fed thinks it’s won its inflation fight but most Americans are still unhappy with the economy

Christopher Rugaber

Federal Reserve signals end to inflation fight with a sizable half-point rate cut

Christopher Rugaber

‘Recession fears appear overblown’ as retail sales ticked up last month

Christopher Rugaber

The gender pay gap just grew for the first time in decades

Christopher Rugaber

U.S. economy adds 142,000 jobs in August and unemployment rate ticks down to 4.2 per cent

Christopher Rugaber

The Fed is predicting a ‘soft landing’ but Americans aren’t ready to celebrate

Christopher Rugaber

Jerome Powell to hint at rate cuts as inflation subsides, but job market challenges emerge

Christopher Rugaber

Kamala Harris calls for a ban on price-gouging to battle high grocery costs

Christopher Rugaber

Penny-pinching consumers are slaying inflation, economists say

Christopher Rugaber

Fed chair Powell says a rate cut is close, but we’re ‘not quite’ there yet

Christopher Rugaber

Fed officials expected to cut rates only once in 2024 but now the market is betting on 3 cuts this year

Christopher Rugaber