JPMorgan's Dimon hopes for soft landing for US economy but says stagflation is a possible scenario
JPMorgan CEO Jamie Dimon says heโs hopeful the Federal Reserve can bring down inflation without causing a recession but wouldnโt rule out more troubling possibilities, such as stagflation.
US producer prices rose 2.1% from last year, most since April, but less than forecasters expected
U.S. producer prices rose in March from a year earlier at the fastest pace in nearly a year, offering more evidence that progress against inflation may have stalled this year and raising doubts about whether and when the Federal Reserve will start cutting interest rates.
When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all
Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, would-be homeowners โ pretty much everyone โ began obsessing over a single question: When will the Fed start cutting rates.
US applications for jobless benefits rise to highest level in two months, but layoffs remain low
The number of Americans applying for jobless benefits rose to their highest level in two months last week, but layoffs remain at historically low levels as the labor market continues to chug along despite elevated interest rates.
Powell says Fed wants to see 'more good inflation readings' before it can cut rates
Federal Reserve Chair Jerome Powell reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it wonโt be ready to do so until it sees โmore good inflation readingsโโ and is more confident that annual price increases are falling toward its 2% target.
Fed's Powell: Rate cuts likely this year, but more evidence is needed that inflation is tamed
Chair Jerome Powell reinforced his belief that the Federal Reserve will cut its key interest rate this year but said it first wants to see more evidence that inflation is falling sustainably back to the Fedโs 2% target.
Congressional Budget Office projects lower inflation and higher unemployment into 2025
The Congressional Budget Office says it expects inflation to nearly hit the Federal Reserveโs 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Stock market today: Asian shares are mostly higher after the Dow hits a record high, US dollar falls
Shares are mostly higher in Asia after a powerful rally across Wall Street sent the Dow Jones Industrial Average to a record high as the Federal Reserve indicated that interest rate cuts are likely next year.
Speculation about eventual rate cuts is rising, but Fed is set to leave interest rates unchanged
With inflation edging closer to the Federal Reserveโs 2% target, its policymakers are facing โ and in some cases fueling โ hopes that they will make a decisive shift in policy and cut interest rates next year, possibly as soon as spring.
Federal Reserve minutes: Officials saw inflation slowing but will monitor data to ensure progress
Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting.
US employers pulled back on hiring in October, adding 150,000 jobs in face of higher borrowing rates
The nationโs employers slowed their hiring in October, adding a modest but still decent 150,000 jobs, a sign that the labor market may be cooling but remains resilient despite high interest rates that have made borrowing much costlier for companies and consumers.
US applications for jobless benefits inch higher but remain at historically healthy levels
The number of Americans applying for jobless benefits inched up last week but remains low by historical standards, even with the Federal Reserveโs aggressive interest rate hikes meant to cool the economy and taper lingering inflation.
Surge in interest rates and a cloudier economic picture to keep Federal Reserve on sidelines
The Federal Reserve is poised to leave its key interest rate unchanged at a time when the Fed faces an economy that has proved resilient but is nevertheless under pressure from surging interest rates, overseas turmoil and anxious investors.
US jobless claims remain at historically low 209,000, a sign of continuing labor market strength
The number of Americans applying for unemployment benefits was unchanged last week, remaining at historically low levels in another sign that the U.S. job market remains strong in the face of higher interest rates.
Federal Reserve minutes: Officials signal cautious approach to rates amid heightened uncertainty
Federal Reserve officials regarded the U.S. economyโs outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would โproceed carefullyโ in deciding whether to further raise their benchmark interest rate.
The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000
The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.