Chairman Jerome Powell said the Federal Reserve would not make policy related to climate change, a response to Republican warnings that the Federal Reserve was going beyond its remit to push green policies. Powell, in a speech Tuesday, stressed the … Read More
Target says inflation will hurt profitability for the rest of the year. Another disappointing earnings report from a leading U.S. retailer on Wednesday reignited fears that rising consumer prices and aggressive Federal Reserve policy could hurt economic growth, sparking a … Read More
Economists expected inflation to rise by 7% in December. Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden’s approval rating tumbling. The consumer … Read More
ECONOMIC REPORT The numbers: The cost of living rose sharply again in October as Americans paid more for staples such as gas and groceries, pushing the rate of inflation to a nearly 31-year high and adding financial pressure on U.S. … Read More
U.S. consumer prices increased in May at the fastest annual rate in nearly 13 years as the economic comeback from COVID-19 lockdowns continues to build momentum. The Labor Department said Thursday that the consumer price index in May rose 5% year over year, … Read More
Success containing virus could spawn recovery before yearend President Donald Trump declared a rare national emergency to contain the spread of the coronavirus on Friday. It’s one of many steps the U.S. will have to take to protect the lives … Read More
The US stock market plunged as much as 7% immediately after regular trading began on Monday, prompting the first halt since the depths of the financial crisis in December 2008. The losses came amid a raging global oil-price war and … Read More
Global markets rose on Monday as fairly dovish comments from U.S. Federal Reserve Chairman Jerome Powell helped reassure investors that the central bank is not planning to accelerate its interest rate increases next year. KEEPING SCORE: In Europe, Germany’s DAX … Read More