Financial related news.
NEW YORK (AP) — While prices for most goods have been falling throughout the year, inflation for a wide range of services remains high. That has put a strain on consumers eating out, servicing their cars and paying for various kinds of insurance. Prices for services rose 3.7 percent in September from a year ago, [...]
WASHINGTON (AP) — The Federal Reserve’s preferred inflation measure last week provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1 percent from July to August, the Commerce Department said, down from the previous month’s 0.2 [...]
WASHINGTON (AP) — The president of the Federal Reserve’s Richmond branch says he supports reducing the central bank’s key interest rate “somewhat” from its current level but isn’t yet ready for the Fed to fully take its foot off the economy’s brakes. In an interview with The Associated Press, Tom Barkin also said the economy [...]
WASHINGTON (AP) — When Jerome Powell delivered a high-profile speech last month, the Federal Reserve chair came the closest he ever had to declaring that the inflation surge that gripped the nation for three painful years was now essentially defeated. The Fed’s high interest rates, Powell said, had managed to achieve that goal without causing [...]
NEW YORK — The Consumer Financial Protection Bureau said last week that apps that allow workers to access their paychecks in advance, often for a fee, are providing loans and therefore subject to the Truth in Lending Act, a 1968 law that requires lenders disclose all loan costs and fees. If enacted, a rule proposed [...]
WASHINGTON (AP) — The Federal Reserve faces a cooling job market as well as persistently high prices, Chair Jerome Powell said in written testimony earlier this week, a shift in emphasis away from the Fed's single-minded fight against inflation of the past two years that suggests it is moving closer to cutting interest rates. The [...]
WASHINGTON — A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. The Commerce Department report showed that consumer prices were flat from April to May, the mildest such performance in more than four years. Measured from a year earlier, prices [...]
NEW YORK (AP) — Janille Williams wants to buy a house someday — but first, he has to pay down tens of thousands of dollars in medical debt. "I was hospitalized for a blood infection for three months more than ten years ago, and the bill was for more than $300,000," said Williams, 38, a [...]
WASHINGTON (AP) — Federal Reserve officials last week said that inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year. The policymakers’ forecast for one rate cut was down from their previous projection of three cuts, because inflation, despite [...]
WASHINGTON (AP) — Consumer prices excluding volatile food and energy costs — the closely watched "core" index — rose 0.2 percent from April to May, according to a new report from the federal government. That figure was down from 0.3 percent the previous month and was the smallest increase since October. Measured from a year [...]