A new report from the Fed shows little change in family finances over the last year, but rising prices remain a big worry. And parents of children under the age of 18 feel worse off than a year ago.
Inflation eased last month, according to a report Wednesday from the Labor Department, which means people feeling stretched by high prices and high borrowing costs could feel a little relief soon.
Voters in Northampton County, Pa., say they remember having more money when Donald Trump was in office. But when it comes time to cast their ballots this year, other issues are at play too.
The Federal Reserve held interest rates steady Wednesday, as inflation remained stubbornly above the Fed's 2% target. Investors now think it could be September or later before rates start to fall.
The Federal Reserve is expected to hold interest rates steady this week — and possibly for months to come — as policymakers try to sort through mixed signals about the U.S. economy.
Annual inflation proved to be hotter than expected last month, staying stubbornly above 3%. It continues to move in the wrong direction in recent months. Pushing it lower is proving to be hard.
The Federal Reserve held interest rates steady Wednesday, but policymakers signaled they still expect to start cutting rates later this year. The stock market jumped in response.
The cost of auto and home insurance is rising much faster than overall inflation, thanks in part to a string of billion-dollar storms. A growing number of people are going without insurance.
Former Treasury Secretary Larry Summers argues that high interest rates are contributing to people's gloomy economic mood. Sentiment may improve, though, if the Federal Reserve begins to cut rates.