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.
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.
U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.
Consumers kept spending and businesses investing in the first half of the year, leading to healthy growth in the U.S. GDP. But there's still some apprehension about a possible recession. Here's why.
Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.
Consumer inflation hit 3% in June, the lowest since March 2021. Though easing prices will be comforting to the Federal Reserve, inflation is still running higher than the central bank would like.
Spending on back-to-school supplies is predicted to decline this year, for the first time since 2014. With inflation top of mind, parents and teachers are looking for ways to save money.
As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.