Consumer prices in March were up 5% from a year ago. While inflation has eased from a four-decade high last summer, prices are still rising faster than the Federal Reserve would like.
Hundreds of corporate employees are set to lose their jobs as McDonald's closes its U.S. offices this week. Journalist and author Adam Chandler offers his perspective on the causes of the layoffs.
Voters hate bank bailouts. But letting them fail without a safety net for customers could have been even worse for President Biden ahead of the 2024 presidential race.
The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.
Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.
U.S. employers added 311,000 jobs in February, only a modest slowdown from the previous month, indicating the labor market remains hot. The unemployment rate rose to 3.6% from 3.4% in January.
Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.
Americans began the new year with a spending spree, but businesses are not sure how long it can last. There's a lot riding on the answer, since consumer spending is the backbone of the U.S. economy.
Coca-Cola said higher prices didn’t hurt demand for its drinks in the fourth quarter, but it expects slower growth ahead as inflation cools and price increases moderate.
Annual inflation cooled in January for the seventh month in a row. But price increases accelerated between December and January, fueled by rising shelter, food and gasoline prices.
While supermarket inflation is still high, there are savings to be found on Super Bowl snacks. Prices for chicken wings and guacamole have fallen sharply since last year's big game.
The markets have rallied this year as investors believe inflation will continue to ease and that the economy will avoid a recession – but it could end in tears.
