Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon.The produce price index, a measure of what producers receive for the goods they produce, increased 0.5% for the month, higher than the 0.3% Dow Jones estimate. However, the March reading...
People shop at a grocery store in Monterey Park, California, on April 12, 2022.Frederic J. Brown | AFP | Getty ImagesConsumers in April raised their expectations for price increases both in the near and longer term, fueled by higher inflation in home prices along with fuel and energy, according...
Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday.The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for May, down from 77.2 in April and well off the...
Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden's re-election chances, billionaire investor Stanley Druckenmiller said Tuesday.The head of Duquesne Family Office who made his name betting against the British pouned in the early 1990s blasted fiscal and monetary authorities, including...
A sign advertising a home for sale is displayed outside of a Manhattan building on April 11, 2024 in New York City. Spencer Platt | Getty ImagesThe dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way...
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates.Nonfarm payrolls increased by 175,000 on the month,...
A jobseeker takes a flyer at a job fair at Brunswick Community College in Bolivia, North Carolina, US, on Thursday, April 11, 2024. Allison Joyce | Bloomberg | Getty ImagesHiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could...
Wall Street reacted Thursday to this week's Fed meeting, with forecasts scattered across a range of outcomes for where monetary policy heads next. Most economists for the biggest forecasting firms expect the central bank to lower benchmark interest rates sometime later this year. But the outlooks ranged from one...
A job seeker attends a Veteran Employment and Resource Fair in Long Beach, California, US, on Tuesday, Jan. 9, 2024. The Department of Labor is scheduled to release initial jobless claims figures on January 11. Eric Thayer | Bloomberg | Getty ImagesPrivate payrolls increased at a faster than expected pace...
Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on March, 7 2024. Kent Nishimura | Getty Images News | Getty ImagesFaced with stubborn inflation that has raised concerns about where policy is headed, the Federal Reserve has been ensnared in a...