The PCE index, which the Fed closely monitors, showed prices rose 0.4% from March to April. Spending jumped 0.8%, the biggest increase since January.
Author: Christopher Rugaber
Fed officials were divided over a June pause in interest rate hikes, meeting minutes show
Federal Reserve officials were split over whether to pause their aggressive campaign of interest rate hikes in June
Powell: Fed will decide on rate hikes ‘meeting by meeting’
Fed’s determination to raise interest rates high enough to slow inflation has fanned concerns that this could tip the economy into recession.
Powell says Fed will keep hiking interest rates until it curtails inflation
Fed Chair Jerome Powell says officials will hike rates until it curbs inflation. He says Fed needs to see inflation slow in “clear and convincing way”
Great Resignation: Job openings and number of Americans quitting stay near record highs
Job openings edged down to 11.3 million while the number of workers quitting rose to 4.4 million in February, both near record highs.
Powell says Fed may accelerate winding down of bond-buying stimulus as economy improves but Omicron variant poses risks
Fed Chair Powell says central bank may accelerate bond-buying stimulus as economy improves.
US consumer prices soared 6.2% in past year, most since 1990
Surging inflation has broadened into the many services that Americans spend money on, notably restaurant meals, rental apartments and medical services
First-time jobless claims fall to new pandemic low of 444K as layoffs ease and 22 states cut off federal bonus
Initial jobless claims fell to 444,000 last week, a new pandemic low, as layoffs ease. Many states are ending a federal supplement to the weekly checks.
Jobless claims fell to 547,000, lowest level since the pandemic began in a sign layoffs are easing
The number of Americans filing first-time jobless claims fell by 39,000 to 547,000, the lowest mark since the pandemic began more than a year ago,