Retail sales surge as Americans buy despite higher prices
Americans boosted spending at a hotter-than-expected pace in March, underscoring how shoppers remain resilient despite inflationary pressures and other economic challenges.
Economy
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Higher gas, rents keep U.S. inflation elevated, likely delaying Fed rate cuts
The March figures, the third straight month of inflation readings well above the Fed’s 2% target, provide concerning evidence that inflation is stuck at an elevated level after having steadily dropped in the second half of 2023.
Employers added 303,000 jobs in March, soaring past expectations
The unemployment rate fell to 3.8 percent last month, the Bureau of Labor Statistics reported Friday, extending the longest stretch of unemployment below 4 percent in five decades.
Pete the Planner: Job satisfaction is so much more than a good salary
The allure of a hefty paycheck can be intoxicating. It’s easy to believe that more money equates to greater success or happiness. But the truth is, our perception of our own salary often shifts dramatically when compared with someone else’s.
Inflation gauge closely tracked by Federal Reserve shows slight easing in inflation
Core prices rose just 2.8% from 12 months earlier in February—the lowest such figure in nearly three years—down from 2.9% in January.
Q&A: GOP candidates for governor on the economy
With less than 50 days before polls close on the Hoosier State’s most competitive primary in decades, the Indiana Capital Chronicle will publish four issue-based question and answers with the six Republican candidates.
Fed still foresees three interest rate cuts this year despite another bump in inflation
The financial markets cheered the message Wednesday from Jerome Powell and the Federal Reserve, with traders sending the Dow Jones industrial average surging 1%, to another all-time high.
February retail sales up 0.6%, yet fissures emerge
Last month’s gain was weaker than expected, and January’s decline was revised even lower, suggesting that many are growing more cautious with their money.
Inflation up again in sign that price pressures remain elevated
Consumer prices in the United States picked up last month as inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s reelection campaign, both of which are counting on a steady easing of price pressures this year.
U.S. inflation likely stayed elevated last month as Federal Reserve looks toward eventual rate cuts
Though inflationary pressures have significantly eased, average prices remain about 17% above where they stood three years ago.
U.S. employers add a surprisingly strong 275,000 jobs
Friday’s report drastically revised down the government’s estimate of hiring in December and January from what had been blockbuster increases to still-solid gains.
Federal Reserve’s preferred inflation gauge increases by most in a year
January’s month-to-month price increase will likely underscore the concern expressed recently by Federal Reserve officials about the risk of cutting interest rates too soon this year.
4Q economy gets a slight downgrade from government’s initial estimate
U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession.
Consumer confidence slips as anxiety over potential recession surprisingly reappears
The decline in the consumer confidence index comes after three straight months of improvement.
Economists lower recession forecasts to 40% on U.S. job growth expectations
While forecasters largely expect the U.S. economy to lose some steam after a blockbuster 2023, a still-robust labor market and receding inflation continue to support mostly solid household demand.
U.S. small-business optimism index sees biggest drop since end of 2022
The share of owners planning to boost employment dropped to the lowest level since May 2020.
Record number of Americans can’t afford their rent, new study finds
After failing to make a significant dent in the problem over the last decade, state and federal lawmakers across the U.S. are making housing a priority in 2024 and throwing the kitchen sink at the issue.
Some Americans saddled with credit card debt as rent, everyday prices remain high
Economists and experts see rising delinquencies as one of the growing risks to the economy this year, especially if student loans become too much for younger, debt-burdened Americans to handle.
Powell: Federal Reserve on track to cut rates this year with inflation slowing
Federal Reserve Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year.
New Purdue appointee says university has global role
Named as a fellow to the Daniels School of Business, former World Bank President David Malpass said the “world would benefit from Purdue’s engagement … in terms of its expertise in business, in semiconductors, in climate science, in engineering.”