Prices barely moved in November but still held higher than the Federal Reserve's target when looked at from a year ago, according to a Commerce Department measure released Friday.The personal consumption expenditures price index, the Fed's preferred inflation gauge, showed an increase of just 0.1% from October. The measure...
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C.Andrew Caballero-Reynolds | AFP | Getty ImagesInflation is stubbornly above target, the economy is growing at about a...
A measure of wholesale prices rose more than expected in November, adding fuel to the belief that progress in bringing down inflation has slowed, the Bureau of Labor Statistics reported Thursday.The producer price index, which measures what producers get for their products at the final-demand stage, increased 0.4% for...
Homes under construction in Englewood Cliffs, New Jersey on Nov. 19th, 2024.Adam Jeffery | CNBCIf President-elect Donald Trump is going to push inflation back down to a more tolerable level, he will need help from housing costs, an area where federal policymakers have only a limited amount of influence.The...
The US Treasury building in Washington, DC, US, on Tuesday, Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe U.S. budget deficit swelled in November, putting fiscal 2025 already at a much faster pace than a year ago when the shortfall topped $1.8 trillion, the Treasury Department reported Wednesday.For...
Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was...
A man shops at a Target store in Chicago on November 26, 2024.Kamil Krzaczynski | AFP | Getty ImagesA key economic report coming Wednesday is expected to show that progress has stalled in bringing down the inflation rate, though not so much that the Federal Reserve won't lower interest...
U.S. President-elect Donald Trump holds an award during the FOX Nation's Patriot Awards at the Tilles Center on December 05, 2024 in Greenvale, New York.Michael M. Santiago | Getty ImagesOptimism about household finances hit a multiyear high following Donald Trump's presidential election victory in November, according to a New...
Jerome Powell, chairman of the US Federal Reserve, during the New York Times DealBook Summit at Jazz at Lincoln Center in New York, US, on Wednesday, Dec. 4, 2024.Yuki Iwamura | Bloomberg | Getty ImagesFriday's jobs report virtually cements that the Federal Reserve will approve an interest rate cut...
Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday.Nonfarm payrolls increased by 227,000 for the month, compared to an upwardly revised 36,000 in October and...