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.
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.
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.
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.
Consumer inflation hit 3% in June, the lowest since March 2021. Though easing prices will be comforting to the Federal Reserve, inflation is still running higher than the central bank would like.
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.
As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.
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.
After 10 straight rate hikes, the Federal Reserve left interest rates unchanged Wednesday, but hinted that additional rate hikes are possible if inflation remains stubbornly high.
Inflation cooled slightly in May, thanks in part to falling gas and egg prices. But the overall cost of living is still climbing faster than the Federal Reserve would like.
Employers added a whopping 339,000 jobs last month, a stunningly strong number. Here are some of the key takeaways of the country's red hot labor market.