The Fed’s favorite inflation measure rose 4.9% in April in a sign that price increases could be slowing
The Fed's preferred inflation gauge rose 4.9% in April from a year ago, a still-elevated level that nonetheless indicated that price pressures could be easing.
Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
Cleveland Fed President Loretta Mester said she doesn't see evidence that inflation has peaked and is on board with supporting multiple rate increases.
Payrolls rose 390,000 in May, better than expected as companies keep hiring
Nonfarm payrolls were expected to increase 328,000 in May, according to Dow Jones estimates.
Fed Vice Chair Lael Brainard says it’s ‘very hard to see the case’ for the Fed pausing rate hikes
Fed Vice Chair Lael Brainard said it's unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon.
CEO outlook dims sharply, with more than half expecting a recession ahead, survey shows
The Conference Board measure of CEO sentiment showed that 57% expect the economy to sustain a "very short, mild recession."
Households are now spending an estimated $5,000 a year on gasoline
U.S. households are now spending the equivalent of $5,000 a year on gasoline, up from $2,800 a year ago, according to Yardeni Research.
Weekly mortgage demand from homebuyers tumbles 12%, as higher interest rates take their toll
Higher mortgage interest rates are hitting homebuyer affordability hard, and that is showing up in a sharp drop in mortgage applications.
Powell says the Fed will not hesitate to keep raising rates until inflation comes down
Fed Chair Jerome Powell said he will back interest rate increases until prices start falling back toward a healthy level.
California’s gas average tops $6 per gallon as prices surge across the U.S.
California's state average for a gallon of gas hit a record above $6.