Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.
Americans began the new year with a spending spree, but businesses are not sure how long it can last. There's a lot riding on the answer, since consumer spending is the backbone of the U.S. economy.
Coca-Cola said higher prices didn’t hurt demand for its drinks in the fourth quarter, but it expects slower growth ahead as inflation cools and price increases moderate.
Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.
While supermarket inflation is still high, there are savings to be found on Super Bowl snacks. Prices for chicken wings and guacamole have fallen sharply since last year's big game.
The markets have rallied this year as investors believe inflation will continue to ease and that the economy will avoid a recession – but it could end in tears.
U.S. employers added 517,000 jobs in January, as the unemployment rate fell to 3.4% . The job market remains tight, despite signs of a slowing economy.
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 U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.
Research shows an increase in crime is caused in part by economic stress, and that stress is caused by a variety of things. Right now in Georgia two things are major contributors: inflation and the automation of jobs that were once performed by people.
Annual inflation continued to ease, cooling to 6.5% in December, but prices are still climbing at a rapid rate, meaning people have to work longer and harder to keep the same standard of living.
