U.S. economy grew at 3.1% pace in third quarter
GDP growth has now topped 2% in eight of the last nine quarters.
Inflation
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Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
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Federal Reserve on cusp of what some thought impossible: Defeating inflation without steep recession
The economy keeps growing, defying widespread fears from a year ago that 2023 would bring a recession, a consequence of the much higher borrowing rates the Fed engineered.
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‘Excuseflation’ helping prices—and corporate profits—remain high
A growing body of analysts and researchers see a pattern of companies using unusual disruptions as an excuse to raise prices for their goods and services, thereby allowing them to expand profit margins.
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2022 Year in Review: A year of ups, downs and uncertainty
The stock market dropped in 2022. So did the unemployment rate. Except in Indiana, where in both cases, the numbers crept up.
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Articles
Fed cuts its key rate by quarter-point but envisions fewer reductions next year
New quarterly projections suggest that consumers may not enjoy much lower rates next year for mortgages, auto loans, credit cards and other forms of borrowing.
Federal Reserve likely to slow rate cuts with inflation pressures still elevated
Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week’s Federal Reserve meeting.
Wholesale inflation accelerates sharply on higher food prices
Measured from 12 months earlier, wholesale prices climbed 3% in November, the sharpest year-over-year rise since February 2023.
Inflation ticks up as some price pressures remain persistent
Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month.
Inflation gauge ticks higher with price pressures still stubborn
Consumer prices rose 2.3% in October from a year earlier. That’s up from 2.1% in September, although it’s still only modestly above the Fed’s 2% target.
Federal Reserve officials signal cautious path for rate cuts amid still-high inflation
Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting.
U.S. economy should continue growing in 2025, economist says
The U.S. economy is strong and should continue to grow next year, Fifth Third Bank Chief Investment Strategist Tom Jalics said at IBJ’s 2025 Economic Forecast breakfast Thursday.
October’s retail sales report shows solid growth
One cautionary note is that grocery-store sales barely rose last month, a sign that many Americans might still be struggling to adapt to food prices that are still much higher than they were three years ago.
Powell says Fed will likely cut rates cautiously given persistent inflation pressures
After Powell’s cautious remarks Thursday, traders estimated the likelihood of a Federal Reserve rate cut in December at just below 59%, down from 83% a day earlier.
Right before the election, inflation rose to 2.6 percent annual rate
The bulk of October’s monthly increase was driven by a rise in shelter costs, which were up 0.4 percent last month and grew by 4.9 percent annually.
Restaurants, other services still in grip of high inflation
While prices for most goods have been falling throughout the year, inflation for food services and home and auto insurance remain stubbornly high.
Key U.S. inflation gauge, spending pick up in mixed economic report
The Federal Reserve’s preferred measure of underlying U.S. inflation posted its biggest monthly gain since April, bolstering the case for a slower pace of interest-rate cuts following last month’s outsize reduction.
Inflation hits lowest point in three years, but core prices remain elevated
Excluding volatile food and energy costs, “core” prices, a gauge of underlying inflation, remained elevated in September, driven up by rising costs for medical care, clothing, auto insurance and airline fares.
Fed’s favored inflation gauge shows cooling price pressures
The ongoing decline in inflation makes it even more likely that the Federal Reserve will cut its key benchmark rate further in the coming months.
Federal Reserve cuts key interest rate by a sizable half-point, signaling end to its inflation fight
The rate cut, the Fed’s first in more than four years, reflects its new focus on bolstering the job market, which has shown clear signs of slowing.
Federal Reserve set to cut interest rates for first time in 4 years
At issue is how fast the Fed wants to lower interest rates to a point where they’re no longer acting as a brake on the economy—nor as an accelerant. Where that so-called “neutral” level falls isn’t clear.
Traders bet on quarter-point Fed cut this month after rise in core inflation
The so-called core consumer price index, which excludes food and energy costs, increased 0.3% from July and 3.2% from a year ago, Bureau of Labor Statistics figures showed Wednesday.
U.S. economic growth for last quarter revised up to 3% annual rate
The Commerce Department had previously estimated that the nation’s gross domestic product—the total output of goods and services—expanded at a 2.8% rate from April through June.
Fed leader Powell: ‘The time has come’ for Fed to begin reducing interest rates
Federal Reserve Chair Jerome Powell emphasized that inflation, after the worst price spike in four decades inflicted pain on millions of households, appears largely under control.