Author: Christopher Rugaber

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.

Federal Reserve officials were split over whether to pause their aggressive campaign of interest rate hikes in June

Fed’s determination to raise interest rates high enough to slow inflation has fanned concerns that this could tip the economy into recession.

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”

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.

Fed Chair Powell says central bank may accelerate bond-buying stimulus as economy improves.

Surging inflation has broadened into the many services that Americans spend money on, notably restaurant meals, rental apartments and medical services

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.

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.’

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,