A new survey from the Federal Reserve finds that family finances overall improved in recent years, despite the economic upheaval caused by the pandemic.
Social Security beneficiaries will receive a 3.2% cost of living adjustment next year. Inflation has been moderating recently, with consumer prices in September up 3.7% from a year ago.
U.S. employers added about twice as many jobs in September as forecasters expected. That's good for people looking for work, but the strong report could complicate the Fed's effort to curb inflation.
Employers added 336,000 jobs in September, far more than expected. It's good news for people looking for work, but the strong labor market could complicate the Fed's fight against inflation.
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.
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.
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.
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.