Tag: inflation
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A measure of inflation that is closely tracked by the Federal Reserve increased in April
A key index of U.S. prices ticked higher in April, and consumer spending rebounded, a sign that inflationary pressures in the economy remain high.
Survey of economists: Inflation will stay high this year, and so will Fed’s key interest rate
The Federal Reserve will make only modest progress in its fight against inflation for the rest of this year, even while keeping its benchmark interest rate at a 16-year high, a group of business economists predict in a survey released Monday.
Americans likely saw little relief from inflation in April
After steadily declining for nearly a year, consumer price data to be released Wednesday will likely show that U.S. inflation remained stubbornly high in April, a sign that it might be entering a newer, stickier phase.
Powell to face Senate grilling on Fed rates and inflation
If measures of the U.S. economy keep coming in hot, as they did in January, the Federal Reserve will likely have to raise interest rates even higher than it has already signaled — and keep them there longer — Chair Jerome Powell will likely warn in testimony to Congress on Tuesday.
CBO projects higher unemployment, slow exit from inflation
The Congressional Budget Office said Wednesday that it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1% — a bleak outlook that was paired with a 10-year projection that publicly held U.S. debt would nearly double to $46.4 trillion in 2033.
