WASHINGTON — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed’s goal of engineering a “soft landing” — in which it would […]

Seven in 10 U.S. consumers see an economic downturn ahead, assuming one hasn’t already started. But awareness doesn’t equal preparedness — two in three admit they aren’t ready for what they think is coming, according to a survey from MagnifyMoney, a personal finance website. “When you are living paycheck to paycheck and seeing everything around you go up in price […]

By CHRISTOPHER RUGABER WASHINGTON (AP) — Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday. That was below the 8.5% year-over-year surge in March, which was […]

By DAMIAN J. TROISE and STAN CHOE NEW YORK (AP) — Stocks are mixed on Friday, and Wall Street is heading for its first losing week in the last four as investors brace for the Federal Reserve to press the brakes on the economy more aggressively to beat down inflation. The S&P 500 was 0.1% higher in afternoon trading after […]

Stocks edged lower in morning trading on Wall Street Friday, weighed down by more drops in chipmakers and other technology companies. The S&P 500 fell 0.4% as of 10:20 a.m. Eastern. The benchmark index is in the red for the week following three straight weekly gains. The Dow Jones Industrial Average rose 23 points, or 0.1%, to 34,607 and the […]

WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances. The figure reported Thursday by the Commerce Department was the largest year-over-year rise since January 1982. Excluding volatile prices for food and energy, so-called core […]

By STAN CHOE NEW YORK (AP) — Stocks are tumbling on Wall Street Monday as another big leap for oil prices threatens to squeeze inflation’s grip on the global economy. The S&P 500 fell 2.1% after a barrel of U.S. oil surged to $130 overnight on the possibility the U.S. could bar imports from Russia. Stocks around the world slid […]

NEW YORK — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian cities, while premarket trading on Wall Street pointed toward a higher open. Investors appeared to take in stride Federal Reserve Chair Jerome Powell’s comments Wednesday that the Fed will begin raising interest rates this month in a high-stakes effort to restrain […]

WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine. The figure reported Friday by the Commerce Department was the largest year-over-year rise since 1982. Excluding volatile food and […]

WASHINGTON — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve’s meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy. With high inflation squeezing consumers and businesses, the Fed is expected to signal that it will raise its benchmark short-term interest […]