WASHINGTON >> A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
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An inflation measure closely watched by the Federal Reserve rose faster than expected in March as high prices continue to weigh on millions of Americans. The personal consumption expenditures index showed that consumer prices rose 0.3% from the previous month, according to the Labor Department, in line with expectations. On an annual basis, prices climbed 2.7% – higher than both the 2.6% forecast from LSEG economists and the 2.5% reading recorded the previous month. In another sign that progress...
The PCE index shows that progression on bringing down inflation has stalled. | Economy
Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending. The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March, according to data released Friday by the Commerce Department. That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%. On a monthly basis, prices rose 0.3%, unchanged from the pace seen in...
Donald Trump’s so-called hush money trial finally began in earnest on Monday with opening statements and the introduction of the first witness. Here’s what we learned
NEW YORK (AP) — Monday’s opening statements in the first criminal trial of a former American president provided a clear roadmap of how prosecutors will try to make the case that Donald Trump broke the law, and how the defense plans to fight the charges on multiple fronts. Lawyers presented dueling narratives as jurors got […]
Good morning and welcome back, it’s Ainsley here with all the news you need to start the working week.Today’s must-reads:• Global economic growth forecasts in focus• CPI data projected to show inflation slowing• US House approves aid for Ukraine, Israel, Taiwan
Welcome to the Daily Weather Update from FOX Weather. It’s Tuesday, April 16, 2024, and National Orchid Day. Start your day with everything you need to know about today's weather. You can also get a quick briefing of national, regional and local weather whenever you like with the FOX Weather Update podcast. Tornadoes, damaging wind, hail likely across nation’s heartland A dayslong stretch of severe weather in the U.S. will continue Tuesday as powerful thunderstorms are expected across portions...
According to a new report, the FBI has initiated a criminal investigation into the collapse of the Francis Scott Key Bridge in Baltimore after a large container ship struck the bridge last month. Among other things, the investigation will attempt to find out if the crew left port knowing that the container ship had problems with its systems.
The opening statements in the first criminal trial of a former American president provided a clear roadmap of how prosecutors will try to make the case that Donald Trump broke the law, and how the defense plans to fight the charges on multiple fronts. Lawyers presented dueling narratives Monday as jurors got their first glimpse into the prosecution accusing Trump of falsifying business records as part of a scheme to squelch negative stories about him during his 2016 presidential campaign. Still...
The opening statements in the first criminal trial of a former American president provided a clear roadmap of how prosecutors will try to make the case that Donald Trump broke the law, and how the defense plans to fight the charges on multiple fronts. Lawyers presented dueling narratives Monday as jurors got their first glimpse into the prosecution accusing Trump of falsifying business records as part of a scheme to squelch negative stories about him during his 2016 presidential campaign. Still...