Financial related news.
WASHINGTON (AP) — Wholesale prices rose in January, the latest sign that some inflation pressures in the economy remain elevated. The Labor Department last week reported that its producer price index — which tracks inflation before it reaches consumers — rose 0.3 percent from December to January after having fallen 0.1 percent from November to [...]
WASHINGTON (AP) — Consumer inflation in cooled last month, yet remained elevated in the latest sign that the pandemic-fueled price surge is slowing gradually and fitfully. This week’s report from the Labor Department showed that the consumer price index rose 0.3 percent from December to January, up from a 0.2 percent increase the previous month. [...]
WASHINGTON (AP) — Just a quarter of business economists and analysts expect the United States to fall into recession this year and any downturn would likely result from an external shock — such as a conflict involving China — rather than from domestic economic factors such as higher interest rates. Respondents to a National Association [...]
WASHINGTON (AP) —The Fed is widely expected to cut its interest rates this year — probably several times. Inflation, as measured by its preferred gauge, rose in the second half of 2023 at an annual rate of about 2 percent — the Fed's target level. Last week, however, several central bank officials underscored that they [...]
DENVER (AP) — Single mom Caitlyn Colbert watched as rent for her two-bedroom apartment doubled, then tripled and then quadrupled over a decade in Denver — from $750 to $3,374 last year. Every month, Colbert juggled her costs. She had to decide whether to pay the rent or pay swim team fees for one of [...]
WASHINGTON (AP) — The IRS is poised to take in hundreds of billions of dollars more in overdue and unpaid taxes than previously anticipated, according to new analysis released Tuesday by the Treasury Department and the IRS. Tax revenues are expected to rise by as much as $561 billion from 2024 to 2034, thanks to [...]
Money is pouring into the fledgling psychedelic medicine industry, with dozens of startup companies vying to be among the first to sell mind-expanding drugs for depression, addiction and other mental-health conditions. While psychedelics are still illegal under federal law, companies are jostling to try and patent key ingredients found in magic mushrooms, ayahuasca and other [...]
NEW YORK (AP) — Pockets of Americans have run through their savings and run up their credit card balances after battling inflation for more than two years. Some economists say they’re concerned that members of these groups — mostly lower- and middle-income Americans, who tend to be renters —are falling behind on their debts and [...]
WASHINGTON (AP) — Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that's expected to begin as early as May. Powell, in an interview recorded last week for the CBS news program "60 Minutes," also said the [...]
WASHINGTON (AP) — Stocks are near record highs. Growth was surprisingly strong last year, and once-hot inflation has begun to cool. Yet so far, U.S. adults are feeling only slightly better about the economy. A new poll from The Associated Press-NORC Center for Public Affairs Research finds that 35 percent of U.S. adults call the [...]