U.S. wholesale inflation declined last month to still-high 8.7%
The cost of services—which are increasingly driving consumer inflation—rose 0.4% in August, driven by higher prices for public transportation, car rentals and some financial services.
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U.S. inflation slows for second month but remains stubbornly high
Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households.
Brad Chambers: Economic momentum shows Indiana is playing to win
But like any good businessperson, our eyes must be on the horizon, scanning for risks that could endanger Indiana’s future growth.
Powell: Fed hoping higher rates won’t mean deep U.S. recession
New research released Thursday concluded that the Federal Reserve will probably have to accept a much higher unemployment rate than it expects—possibly as high as 7.5%—to curb inflation.
Americans splurge on beauty, despite pullbacks elsewhere
One possible explanation for why beauty is thriving when consumers are more apprehensive about their spending is a long-held theory known as the “lipstick index,” which posits that lipstick sales rise during times of economic downturn.
Red-hot labor market has helped boost unions
Economists say tight labor markets tend to give workers more leverage to form unions and to demand higher wages and better working conditions, while downturns tend to make workers less willing to make collective demands of their employers.
Consumers more confident in August as gas prices dip
Following three straight monthly declines, U.S. consumer confidence rebounded in August as inflation moderated and gas prices fell.
Job vacancies rise after 3 months of declines, dashing Fed hopes for cooling
The increase that the government reported Tuesday will be a disappointment for Federal Reserve officials, who are seeking to cool hiring by raising short-term interest rates to try to slow borrowing and spending, which tend to fuel inflation.
Stocks fall as Fed chair says rates to remain high ‘for some time’
Federal Reserve leader Jerome Powell acknowledged the rate hikes will hurt the job market and U.S. households, but he also said the pain would be worse if inflation were allowed to fester.
Inflation eased in July, with consumer prices up a still-high 6.3%
According to a Commerce Department report Friday that is closely watched by the Federal Reserve, consumer prices rose 6.3% in July from a year earlier after posting an annual increase of 6.8% in June.
Fewer Americans claim weekly jobless benefits
The number of Americans collecting traditional unemployment benefits fell by 19,000 the week that ended Aug. 13, to 1.42 million.
Government revision shows economy shrank 0.6% last quarter
In its previous estimate for the April-June quarter, the government had estimated that the economy had shrunk at a 0.9% rate.
Biden set to announce delayed plan for student-loan relief
The plan, expected to be revaled Wednesday, would likely eliminate student debt entirely for millions of Americans and wipe away at least half for millions more.
U.S. retail sales flat in July as households spent more cautiously
Consumers remained wary of spending much on non-essentials: Sales were down 0.5% at department stores and 0.6% at clothing stores.
Delayed raises and renovations: Small businesses face new uncertainties
The percentage of small-business owners citing an increasingly uncertain economic outlook rose sharply in July, while overall optimism remains near historic lows, according to data released last week by the National Federation of Independent Business.
Experts: Inflation Reduction Act unlikely to have impact on inflation
The legislation, which is headed for final approval Friday in the House and will then be signed into law, won’t directly address some of the main drivers of surging prices—from gas and food to rents and restaurant meals.
U.S. wholesale inflation shows first month-to-month decline in 2 years
Inflation at the wholesale level still jumped 9.8% in July compared with a year earlier, suggesting that inflation will remain at painful levels for months to come.
U.S. inflation slows from a 40-year peak, but remains high
Wednesday’s report raised hopes that a modest slowdown in inflation might enable the Federal Reserve to raise short-term interest rates by less than had been anticipated when it meets in late September.
U.S. inflation likely to stay high even as gas prices fall
Thanks largely to falling gas prices, the government’s inflation report for July, to be released Wednesday morning, is expected to show a small slowdown from the 9.1% year-over-year figure in June, which was the highest in four decades.
U.S. employers add 528,000 jobs; unemployment falls to 3.5%
The surprisingly strong jobs numbers will undoubtedly intensify the debate over whether the U.S. is in a recession or not.