Fed’s Daly says ‘our work is far from done’ on inflation; Evans sees ‘reasonable’ chance for smaller hike
The Federal Reserve still has a lot of work to do before it gets inflation under control, San Francisco Fed President Mary Daly said Tuesday.
Job openings fell sharply in June as labor market shows signs of slowing
Job openings plunged in June to their lowest level since September 2021 in a potential sign that a historically tight labor market is starting to...
Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates
Household debt climbed past $16 trillion in the second quarter, as soaring inflation pushed up housing and auto balances.
Home prices cooled at a record pace in June, according to housing data firm
Home price gains are cooling fast, as demand wanes and still-tight supply builds.
Are we in a recession? It doesn’t matter, Fed official says: ‘I’m focused on the inflation data’
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, told CBS' "Face the Nation" that inflation poses a larger threat than a potential recession.
The economy is expected to have barely grown last quarter and it may have contracted
Economists are forecasting the economy barely grew in the second quarter, and some expect that it actually contracted.
Fed hikes interest rates by 0.75 percentage point for second consecutive time to fight inflation
The Federal Open Market Committee released its post-meeting statement Wednesday on what it will be doing with interest rates.
Pending home sales fell 20% in June versus a year earlier as mortgage rates soared
The decline in sales coincided with mortgage rates soaring to over 6% last month.
Inflation figure that the Fed follows closely hits highest level since January 1982
An inflation gauge that the Federal Reserve uses as its primary barometer jumped to its highest 12-month gain in more than 40 years in June.