Overall CPI in December was up 3.4% from a year ago. The cost of motor vehicle insurance rose 1.5% in December from November, marking a 20.3% increase compared to the previous year.
Amid heightened uncertainty about the global economy, all three U.S. indexes are in a bear market as the third quarter comes to a close.
Customarily, the Fed and other central banks do as much as they can to keep markets calm. This time they're the reason behind the volatility.
U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.
Stocks continue to slump on fears about inflation – and whether the Federal Reserve can bring down prices without sparking a recession.
The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.
Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
The Federal Reserve is considering whether to adopt a digital version of the dollar, one better suited to a world where we are already using Venmo and Apple Pay. Here's what to know.