Older Americans are fueling a sustained boost to the U.S. economy. Benefiting from outsize gains in the stock and housing markets over the past several years, they are accounting for a larger share of consumer spending — the principal driver of economic growth — than ever before.
After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year
By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON (AP) — After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year. The big question, after they end their latest policy meeting Wednesday, will be: Will they still signal rate cuts at all this year? Wall
Powell likely to signal that lower inflation is needed before Fed would cut rates
Since the start of the year, central bankers' best hopes to take pressure
The US central bank's favored measure of inflation accelerated last month, according to government data published Friday, pushing back the chances of an interest rate cut this summer.The hotter print is likely to cement the view that inflation, while down sharply since 2022, remains a challenge, and could keep the Federal Reserve on pause as it seeks to battle rising prices.It also complicates US president Joe Biden's reelection message as he seeks to convince still-skeptical consumers that the...
Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain. “I really have more money to spend now than when I was working,” said Harris, 64, an engineer who worked 29 years for the federal government and lives in...
It's a tough case to sell that higher interest rates today are having a substantially negative impact on the course of the economy.
(Bloomberg) -- Treasuries slumped and traders further trimmed their outlook for the pace of Federal Reserve interest-rate cuts, deterred by a US GDP report that highlighted sticky price pressures. Most Read from BloombergUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsHow to Get a Meeting With the UAE’s $1.5 Trillion ManZuckerberg...
Price rises in the 20-nation euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter.
The latest GDP and inflation figures have sparked concerns among investors, hinting at a potential economic downturn worse than a recession. read more
A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".