Target says it plans to cut prices on thousands of basic items
Target is very cognizant of the spending pullback by shoppers amid high inflation. In March, it reported its first annual decline in sales in seven years.
Inflation
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Inflation improved slightly in April, but impact on rate cuts still uncertain
The latest snapshot comes as the Federal Reserve is grappling with inflation data that continues to surprise them.
U.S. wholesale prices rose in April by more than projected
Tuesday’s unexpectedly high readings may raise concerns on Wall Street, at the White House and for inflation-fighters at the Federal Reserve.
Fed says interest rates will stay at two-decade high until inflation further cools
The Federal Reserve’s more cautious outlook stems from three months of data that pointed to chronic inflation pressures and robust consumer spending.
U.S. consumer sentiment falls as inflation expectations climb
The figures highlight the toll stubborn price pressures, along with higher borrowing costs, are taking on consumers.
Fed’s preferred inflation gauge shows price pressures remain elevated
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.
U.S. growth slowed sharply last quarter, to 1.6% pace
Despite cooling, the economy is still creating price pressures, a continuing source of concern for the Federal Reserve.
Sobering message from the Fed: Interest rate cuts aren’t coming soon
Since the start of the year, Federal Reserve Chair Jerome Powell and his colleagues had said they were looking for more assurance that inflation was ticking steadily down. Instead, they’ve gotten the opposite.
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.
Powell: Fed wants ‘more good inflation readings’ before it cuts rates
Federal Reserve Chair Jerome Powell said the economy’s strength means the Fed isn’t under pressure to cut rates and can wait to see how the inflation numbers come in.
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.
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.
Powell might provide hints of whether Federal Reserve is edging close to rate cuts
A key question for Federal Reserve Chair Jerome Powell and the 18 other officials on the Fed’s interest-rate-setting committee is how—or whether—recent inflation figures have altered their timetable for cutting rates.
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.
Fed leader: Rate cuts likely, but more evidence needed that inflation is tamed
In his remarks to Congress on Wednesday, Federal Reserve Chair Jerome Powell offered no hints on the potential timing of rate cuts.
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.
Federal Reserve officials worried that progress on inflation could stall
In minutes from the Jan. 30-31 meeting released Wednesday, most Fed officials said they were worried about moving too fast to cut their benchmark interest rate before it was clear that inflation was sustainably returning to their 2% target.
U.S. inflation remains elevated in sign that price pressures are easing only gradually
The prices of services—hotel rooms, restaurant meals, auto insurance, apartment rents and the like—are still rising faster than they did before the pandemic and keeping overall inflation persistently high.