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.
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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.
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.
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.
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.
U.S. economy headed for slowdown, investment strategist says
Speaking at an IBJ economic forecast event Monday, a Fifth Third Bank economist said the chance of heading into another recession is “literally a toss-up, a coin flip.”
Fed unleashes another big rate increase, but hints at smaller hikes
The Federal Reserve on Wednesday raised its key short-term interest rate to a range of 3.75% to 4%, its highest level in 15 years.
Powell likely to be pressed on how soon Fed will slow hikes
Looming over the Federal Reserve meeting that ends Wednesday is a question of intense interest: Just how high will the Fed’s inflation-fighters raise interest rates—and might they slow their rate hikes as soon as next month?
Clock ticking for private equity to spend through tougher times
Rising interest rates, inflation and recession risks have eroded consumer confidence and left buyout firms facing a new reality of higher financing costs and potentially lower returns.
Higher interest rates will lower winter home sales more than usual, experts say
The cold months pretty much always herald a drop in residential real estate sales. It just isn’t a great time to schlep around looking at houses. This season, however, is expected to bring a lower dip than in recent years.
Fed seen aggressively hiking rates again, triggering global recession
Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.
Average mortgage rates top 7% for the first time in 2 decades
Many potential homebuyers have moved to the sidelines as mortgage rates have more than doubled this year. Sales of existing homes have declined for eight straight months.
AutoNation’s CEO warns of used-car price drop as rising rates curb demand
The biggest U.S. chain of car dealerships said used-vehicle prices are softening as rising interest rates curb demand from more price-sensitive buyers.
Average long-term U.S. mortgage rates continue to climb
The National Association of Realtors said Thursday that sales of previously occupied U.S. homes fell in September for the eighth month in a row.
Core U.S. inflation rises to 40-year high, likely securing big Fed hike
The report stresses how high inflation has broadened across the economy, eroding Americans’ paychecks and forcing many to rely on savings and credit cards to keep up.
Another month of solid hiring suggests more big Fed hikes
America’s employers slowed their hiring in September but still added a solid number of jobs, likely keeping the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation.
Fed’s Cook says more rate hikes needed to combat inflation
Comments by Federal Reserve Governor Lisa Cook, Neel Kashkari and Raphael Bostic suggest the Federal Reserve is unlikely to slow its campaign against inflation anytime soon.
U.S. mortgage rates up for 6th week, with 30-year at 6.7%
The beefier rates mark highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
U.S. consumer confidence rises for second month
A strong job market and lower gas prices appear to be contributing to more optimistic views of the economy. But inflation and rising interest rates both threaten Americans’ propensity to spend.