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 S&P 500 has surged this year, but most of those gains are thanks to a handful companies nicknamed "The Magnificent Seven." And that's worrying Wall Street.
Consumer prices last month were 3.2% higher than the month before — a smaller annual increase than the previous month. A sharp drop in gas prices in October helped to offset rising rents.
The Federal Reserve left interest rates unchanged Wednesday, but left the door open to additional rate hikes in the future, if necessary, to curb inflation.
Bonds are being pummeled as investors fear interest rates will stay higher for longer because of high inflation. That will raise borrowing costs across the economy even more.
A new survey from the Federal Reserve finds that family finances overall improved in recent years, despite the economic upheaval caused by the pandemic.
Social Security beneficiaries will receive a 3.2% cost of living adjustment next year. Inflation has been moderating recently, with consumer prices in September up 3.7% from a year ago.
U.S. employers added about twice as many jobs in September as forecasters expected. That's good for people looking for work, but the strong report could complicate the Fed's effort to curb inflation.
Employers added 336,000 jobs in September, far more than expected. It's good news for people looking for work, but the strong labor market could complicate the Fed's fight against inflation.
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 average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.
The bond markets are being hit hard by the Fed's aggressive rate hikes and recent events including a downgrade of the country's ratings. These are three ways in which that could impact the U.S.
Consumer prices rose 3.2% in July from a year ago, higher than the 3% gain seen in June — but it was largely due to math. Overall, inflation continues to ease, raising optimism about the economy.