6 hours ago · While inflation has subsided from a 40-year high of 9.1% in June 2022, it rose 2.9% in December on a year-over-year basis due to higher prices on gasoline, which rose 4.4% from the prior month, as ...

8 hours ago · The Fed’s benchmark rate stands at about 4.6 percent. In an effort to tamp down sky-high inflation, the central bank began lifting rates rapidly — from near zero to a high of 5.33 — between ...

12 hours ago · Noting that inflation is still above the Fed's 2% goal while the economy and job market are strong, Fed Chair Jerome Powell told reporters Wednesday, We don't need to be in a hurry to adjust ...

15 hours ago · Bankrate Chief Financial Analyst Greg McBride put the situation more bluntly: “The progress toward 2% inflation has stalled out, and the Fed knows it,” he said in a statement Wednesday.

20 hours ago · That is because investors expect healthy economic growth and stubborn inflation will forestall future rate cuts. They recently bid up the 10-year Treasury above 4.80%, its highest level since 2023. Another reason for caution among Fed policymakers this year is that they will want to evaluate any changes in economic policy by the Trump administration.

2 days ago · Fed officials “need to see a little more progress on inflation,” he added, though he also said it is getting “very close” to their target. Annual inflation was just 2.4% in November, according to the Fed’s preferred gauge, only modestly above its goal, but it has been stuck there for about six months. Still, there are signs that ...

1 day ago · One Fed official voted against it and a record of the meeting released earlier this month showed that other officials grappled with recent data that suggested progress on getting inflation back ...

Nov 7, 2024 · The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Sep 19, 2024 · Inflation has tumbled from a peak of 9.1% in mid-2022 to a three-year low of 2.5% in August, not far above the Fed’s 2% target. The Fed’s policymakers also signaled that they expect to cut their key rate by an additional half-point in their final two meetings this year, in November and December.

6 hours ago · The Federal Reserve held its key interest rate in check Wednesday, reversing a recent trend of easing policy as it examines what is likely to be a bumpy political and economic landscape ahead. In ...