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A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid.
Sky-high mortgage rates and other elevated borrowing costs are pinching American consumers ahead of the 2024 election, threatening President Biden’s chances at a second term.
Donald Trump and plenty of Republicans are at their wits’ end when it comes to the threats of ousting Speaker Mike Johnson coming from Georgia Representative Marjorie Taylor Greene.
WASHINGTON (AP) — An eagerly awaited report Wednesday on consumer prices will show whether inflation is still easing, a trend the Federal Reserve will weigh in deciding when and by how much — or even whether — to cut interest rates this year.
WASHINGTON (AP) — Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates?
WASHINGTON (AP) — Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked up in January and February.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Friday reiterated a message he has sounded in recent weeks: While the Fed expects to cut interest rates this year, it won’t be ready to do so until it sees “more good inflation readings’’ and is more confident that annual price increases are falling toward its 2% target.
TOPEKA, Kan. (AP) — Kansas will pay $1 million to settle a lawsuit over a 7-year-old boy’s murder in 2015 alleging that the state’s child welfare agency should have removed him from an abusive home before he was starved and tortured and his body was fed to pigs.