Tag: inflation
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Social Security benefits will increase by 3.2% in 2024 as inflation moderates
Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year’s historic boost and reflecting moderating consumer prices.
Higher gas prices likely pushed up inflation in August, though other costs probably slowed
A sharp increase in gas prices likely pushed inflation higher in August compared with a year ago, yet a measure excluding energy and food costs is expected to fall for the fifth straight month, suggesting that the Federal Reserve’s interest rate hikes are still bringing down prices for many goods and services.
Biden’s approval rating on the economy stagnates despite slowing inflation, AP-NORC poll shows
President Joe Biden has devoted the past several weeks to promoting the positive impacts of his policies — but his efforts have yet to meaningfully register with the public.
Federal Reserve minutes: Too-high inflation, still a threat, could require more rate hikes
Most Federal Reserve officials last month still regarded high inflation as an ongoing threat that could require further interest rate increases, according to the minutes of their July 25-26 meeting released Wednesday.
Fed Chair Powell sees progress on inflation, though not quickly enough
Inflation may be cooling — just not yet fast enough for the Federal Reserve. Chair Jerome Powell offered a nuanced view Wednesday of how the Fed intends to address its core challenge at a time when inflation is both way below its peak but still well above the central bank’s 2% target: Give it more time, and maybe some help from additional interest rate hikes.
