The PCE index, which the Fed closely monitors, showed prices rose 0.4% from March to April. Spending jumped 0.8%, the biggest increase since January.
Author: Christopher Rugaber
Powell says Fed will keep hiking interest rates until it curtails inflation
Fed Chair Jerome Powell says officials will hike rates until it curbs inflation. He says Fed needs to see inflation slow in “clear and convincing way”
Great Resignation: Job openings and number of Americans quitting stay near record highs
Job openings edged down to 11.3 million while the number of workers quitting rose to 4.4 million in February, both near record highs.
Powell says Fed may accelerate winding down of bond-buying stimulus as economy improves but Omicron variant poses risks
Fed Chair Powell says central bank may accelerate bond-buying stimulus as economy improves.
Fed says economy ‘has made progress’ toward goals in step toward cutting bond-buying stimulus but Powell said labor market has “ways to go”
The Fed held Its key interest rate near zero and said economy “has made progress” in sign it may soon start tapering its bond buying stimulus.
First-time jobless claims fall to new pandemic low of 444K as layoffs ease and 22 states cut off federal bonus
Initial jobless claims fell to 444,000 last week, a new pandemic low, as layoffs ease. Many states are ending a federal supplement to the weekly checks.
Fed holds key interest rate near zero, vows to maintain it until inflation tops 2% ‘for some time’ despite vibrant economy
The Fed held Its key rate near zero, vowed to keep it there and maintained its bond purchases. Officials called recent rise in inflation ‘transitory.’
Jobless claims fell to 547,000, lowest level since the pandemic began in a sign layoffs are easing
The number of Americans filing first-time jobless claims fell by 39,000 to 547,000, the lowest mark since the pandemic began more than a year ago,