Inflation eased last month, according to a report Wednesday from the Labor Department, which means people feeling stretched by high prices and high borrowing costs could feel a little relief soon.
The Federal Reserve held interest rates steady Wednesday, as inflation remained stubbornly above the Fed's 2% target. Investors now think it could be September or later before rates start to fall.
Annual inflation proved to be hotter than expected last month, staying stubbornly above 3%. It continues to move in the wrong direction in recent months. Pushing it lower is proving to be hard.
The Federal Reserve held interest rates steady Wednesday, but policymakers signaled they still expect to start cutting rates later this year. The stock market jumped in response.
The Federal Reserve held interest rates steady on Wednesday, amid signs of easing inflation. The central bank signaled that its benchmark borrowing rate may start to fall next year.
The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.
The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.
Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.
The Federal Reserve raised interest rates by a quarter-percentage point as part of its ongoing effort to fight inflation. Price hikes have begun to ease, but the Fed says inflation is not yet tamed.
The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.
All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.
Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.
Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
