Stubbornly high inflation could push the Federal Reserve into a more cautious stance this year regarding interest rate cuts, the central bank's former vice chair said Friday.Richard Clarida, who served as Fed governor until January 2022 and is now a global economic advisor at asset management giant Pimco, said...
Gas prices are displayed at a gas station on March 12, 2024 in Chicago, Illinois. Scott Olson | Getty ImagesFrom consumer and wholesale prices to longer-term public expectations, inflation served up multiple reminders this week that it isn't going away anytime soon.Data across the board showed pressures increasing at faster...
A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California. Justin Sullivan | Getty Images News | Getty ImagesWholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.The producer price...
Fresh chicken breasts are displayed for sale in the meat area of a Sprouts Farmers Market grocery store in Redondo Beach, California on February 23, 2024. Patrick T. Fallon | AFP | Getty ImagesInflation rose again in February, keeping the Federal Reserve on course to wait at least until the...
Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty ImagesRising gasoline prices likely put a floor under inflation in February, potentially reinforcing the Federal Reserve's decision to take a go-slow approach with interest rate reductions.Economists expect that prices across...
Customers shop at a Costco store on August 31, 2023 in Novato, California. According to a report by the Commerce Department, consumer spending rose 0.8% in July beating expectations of 0.7%. (Photo by Justin Sullivan/Getty Images)Justin Sullivan | Getty Images News | Getty ImagesConsumers increasingly doubt the Federal Reserve...
Proclaiming that "I'm a big believer in tariffs," former President Donald Trump on Monday indicated he's likely to reinstitute duties on foreign goods should he win election to a second term.In a CNBC interview, Trump cited both economic and political benefits from targeting foreign goods entering the U.S."I fully...
Job creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn't near as hot as initially reported.Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department reported Friday. Economists surveyed...
A workers stocks the shelves in a CVS pharmacy store on February 07, 2024 in Miami, Florida. Joe Raedle | Getty ImagesJob growth in the U.S. likely decelerated in February while still a long way from stall speed as companies continue to keep up demand for workers.When the Labor Department...
More than 75 employers were taking resumes and talking to prospective new hires at a career fair in Lake Forest, CA on Wednesday, February 21, 2024. Paul Bersebach | Medianews Group | Orange County Register | Getty ImagesLayoff announcements in February hit their highest level for the month since the...