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