Federal Reserve

Economy

The Federal Reserve holds interest rates steady but hints at more action this year

5:37pm September 20, 2023

by Scott Horsley

The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.

Federal Reserve Chair Jerome Powell arrives for a meeting of financial regulators in Washington, D.C., on July 28, 2023. Powell warned on Friday the fight against inflation still "has a long way to go."

Economy

Fed Chair Jerome Powell warns the fight against inflation is far from over

4:58pm August 25, 2023

by Scott Horsley

Federal Reserve Chair Jerome Powell said interest rates could stay elevated for an extended period to bring inflation to the central bank's 2% target.

Mortgage rates have been surging, making home ownership a lot less affordable for many people. The higher rates have also made people reluctant to sell their current homes, since many would likely have to pay more in mortgages for their next house.

Economy

Mortgage rates just hit their highest since 2002

1:45pm August 17, 2023

by Scott Horsley

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

Bond yields remain high this year after a miserable 2022 in debt markets. That's raising borrowing costs such as interest rate payments for credit cards.

Economy

Why the sell-off in bond markets could impact you

5:00am August 11, 2023

by David Gura

The bond markets are being hit hard by the Fed's aggressive rate hikes and recent events including a downgrade of the country's ratings. These are three ways in which that could impact the U.S.

The latest inflation report is reinforcing hopes about a soft landing in the economy — or when inflation eases without sparking a downturn.

Economy

Here's where inflation stands today — and why it's raising hope about the economy

4:53pm August 10, 2023

Consumer prices rose 3.2% in July from a year ago, higher than the 3% gain seen in June — but it was largely due to math. Overall, inflation continues to ease, raising optimism about the economy.

Annual inflation accelerated slightly in July, although the uptick was modest and within expectations.

Economy

Inflation got a little higher in July as prices for rent and gas spiked

8:55am August 10, 2023

by Scott Horsley

Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations

The latest employment data for July is bolstering hopes about the economy after employers continued to add jobs at a solid clip.

The case for a soft landing in the economy just got another boost

4:42pm August 04, 2023

by Scott Horsley

U.S. employers added 187,000 jobs in July, a slower but still solid pace of growth, suggesting the Federal Reserve may be able to curb inflation without triggering a recession.

A person pumps gas at a BP gas station in Brooklyn, N.Y., on June 12. Annual inflation eased to 3% in June, the lowest in over two years, and there's hope that it could go lower.

Why inflation is losing its punch — and why things could get even better

10:17am July 13, 2023

by Scott Horsley

Annual inflation fell to 3% in June, the lowest since March 2021. That probably won't stop the Federal Reserve from raising rates again, but this month's expected hike could be the last.

Queue Listen Now

A 'Now Hiring' sign is displayed outside a check cashing shop in Los Angeles on June 2, 2023. Employers added 209,000 jobs last month, slowing down from previous months but still marking respectable growth.

The job market is cooling but still surprisingly strong. Is that a good thing?

4:23pm July 07, 2023

by Scott Horsley

U.S. employers added 209,000 jobs in June. That's a solid number, but fewer than the month before. Here are the 5 things we took away from the report.

Queue Listen Now

Markets have rallied recently as the economy has proved sturdier than expected and as investors have latched onto artificial intelligence-related shares. Here, stock market numbers are displayed at the New York Stock Exchange on June 2.

Economy

What recession? Why stocks are surging despite warnings of doom and gloom

4:26pm July 05, 2023

by David Gura

Halfway through the year, hopes about AI and a sturdier-than-expected economy are leading to a big rally in stock markets — but a lot of uncertainty still lies ahead.