US economy grew 3.2% in Q3, an upgrade from earlier estimate
The rise in gross domestic product—the economy’s output in goods and services—marked a return to growth after consecutive drops in the January-March and April-June periods.
Inflation
Articles
Holiday procrastinators are back in force. Blame inflation.
This year, supply chain snags have eased and shoppers aren’t as worried about availability as they are about higher prices on everything from rent to food, causing them to postpone their buying until the last minute.
Dealmaking slips by almost a third in 2022 marked by volatility, inflation
Megadeals announced early in the year were soon replaced by jitters about getting mergers and acquisitions over the finish line, with monthly deal activity plummeting by almost half from May to June. The volumes have yet to recover.
Working at 76: Inflation forces hard choice for older adults
An AARP report released last month showed more than a third of people 65 and older described their financial situation at midyear as worse than it was 12 months before.
Retail sales drop at start of key holiday shopping season
Americans cut back on retail spending last month as the holiday shopping season began, with high prices and rising interest rates forcing families to make harder decisions about what they buy.
Fed raises key rate by half-point, signals more hikes to come
Consistent with a sharp slowdown, Fed officials projected that the economy will barely grow next year, expanding just 0.5%, less than half the forecast it had made in September.
Fed set to extend inflation fight with 7th rate hike of 2022
The six rate hikes the Fed has already imposed this year have raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years.
Key inflation gauge sees smallest monthly rise in more than year
The report, the last of 2022, points to inflation that—while much too high—is beginning to ease.
Diminished U.S. workforce could lead Fed to keep interest rates high
In a recent speech, Federal Reserve Chair Jerome Powell pointed to the shortfall of workers and the resulting rise in average pay as the primary remaining driver of the price spikes that continue to grip the economy.
Pace of wholesale inflation in U.S. shows 5th straight slowdown
The latest year-over-year figure was down from 8% in October and from a recent peak of 11.7% in March.
Inflation gauge tracked by the Fed slows to still-high 6%
The report also showed that consumers spent more in October, even after adjusting for inflation, a sign of their continued willingness to keep spending in the face of high prices.
Powell: Fed to keep rates higher for longer to cut inflation
The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday, in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation.
U.S. monthly job openings dip to still-high level
The Federal Reserve is closely monitoring the figures on job openings and quits for signals about the strength of the job market.
Powell to set stage for slowing Fed rate hikes amid hawkish tone
Chair Jerome H. Powell is expected to this week cement expectations that the Federal Reserve will slow its pace of interest-rate increases next month, while reminding Americans that its fight against inflation will run into 2023.
Installation incentives: New law provides push for homeowners, businesses to go green
Under the Inflation Reduction Act, signed into law by President Biden on Aug. 16, some consumers may qualify for more than $10,000 in rebates and tax credits for buying high-efficiency appliances and electric vehicles and other purchases to decrease their carbon footprints.
Trimming the fat: inflation finally hitting profit margins
Corporate profits have withstood raging inflation over much of the last year, but those good times might be ending.
Fed official suggests substantial rate hikes might be needed
Comments by James Bullard raised the prospect that the Federal Reserve’s interest rate hikes will make borrowing by consumers and businesses even costlier and further heighten the risk of recession.
Rising food costs could take bite out of Thanksgiving dinner
Americans are bracing for a costlier Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples.
Fed seen sticking with higher peak rate despite cooler inflation
Economists largely stuck to their forecasts that the Federal Reserve will raise interest rates to 5% by March and hold them there for most of 2023, even after inflation slowed last month by more than forecast.
Measure of U.S. wholesale inflation eases to 8%
The annual figure is down from 8.4% in September. On a monthly basis, the government said Tuesday that its producer price index, which measures costs before they reach consumers, rose 0.2% in October from September.