Author: Christopher Rugaber
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Trump touted bigger tax refunds this year, but Americans will likely spend them on gas
WASHINGTON (AP) — The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend. “Next spring is projected…
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Key inflation gauge worsened in January, before Iran war lifted gas prices
WASHINGTON (AP) — An inflation gauge closely monitored by the Federal Reserve moved higher in January in the latest sign that prices were persistently elevated even before the Iran war caused spikes in oil and gas costs. Prices rose 2.8% in January compared with a year earlier, the Commerce Department said Friday, slightly below December’s…
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Last year’s odd economy in five charts, and what to watch for in 2026
WASHINGTON (AP) — The economy in 2025 was filled with contradictions, as growth was healthy while hiring slowed, inflation stayed elevated and unemployment rose. Last year’s odd outcomes raise a host of questions for the upcoming year: Will a growing economy eventually boost the sluggish job market? Or are last year’s weak job gains a…
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Federal Reserve cuts key rate but signals higher bar for future reductions
WASHINGTON (AP) — The Federal Reserve reduced its key interest rate for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months, a move that could attract ire from President Donald Trump, who has demanded steep reductions to borrowing costs. In a statement released after a…
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Federal Reserve cuts key rate as government shutdown clouds economic outlook
WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. “Job gains have slowed this year, and the unemployment rate has edged up but remained low through August,” the Fed said in…
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US inflation stays elevated but prices rose less than feared last month
WASHINGTON (AP) — U.S. inflation remained elevated last month as gas prices jumped while the cost of rents and some services cooled, painting a mixed picture of the expenses consumers are facing in a murky economy where growth appears steady but hiring slow. Consumer prices increased 3% in September from a year earlier, the Labor…
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Fed’s Powell: Rate cuts likely this year, but more evidence is needed that inflation is tamed
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Chair Jerome Powell reinforced his belief that the Federal Reserve will cut its key interest rate this year but said it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2% target
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Recession has struck some of the world’s top economies. The US keeps defying expectations
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Both Japan and the United Kingdom said Thursday their economies weakened during the final three months of 2023
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US inflation slows but remains elevated in sign that price pressures are easing only gradually
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Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control
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Inflation is nearly back to 2%. So why isn’t the Federal Reserve ready to cut rates?
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From Wall Street traders to car dealers to home buyers, Americans are eager for the Federal Reserve to start cutting interest rates and lightening the heavy burden on borrowers