Minneapolis Fed chief Kashkari hopeful US economy can avoid recession as inflation fight continues
Minneapolis Fed President Neel Kashkari said Sunday that Fed policymakers are increasingly hopeful of achieving a "soft landing" that tames inflation without causing a deep recession.
Fed delivers anticipated interest rate increase but no certainty over what's next
The Federal Reserve announced another 25 basis point interest rate hike on Wednesday following its June pause.
Dow's winning streak best since 1987
The Dow Jones Industrial Average wrapped a 13-day winning streak, a run not seen since 1987, after Federal Reserve hiked interest rates to a 22-year high.
Fed hikes interest rates to 22-year high as inflation fight resumes
The Federal Reserve delivered another interest rate hike on Wednesday, raising rates to the highest level since 2001 as it tries to crush high inflation.
Financial expert cautions Fed's rate hike 'experiment' will have 'unintended' consequences
Interest rate watchdog Jim Grant explains how the Fed's rate trajectory will cause "deep unrecognized losses" with market volatility and deep-set inflation.
Home prices rose for 4th straight month in May
Home prices climbed for the fourth straight month in May despite high mortgage rates, according to the S&P CoreLogic Case-Shiller index released Tuesday.
Fed set to raise interest rates to 22-year high after June pause
The Federal Reserve is expected to raise interest rates for the 11th time at the end of its meeting Wednesday as it continues its fight against inflation.
Economists still see 50% chance of a recession this year
A majority of business economists believe the odds of a recession within the next 12 months are at 50% or less, according to a survey published by NABE.
High interest rates take a toll on America's finances: Allianz
Interest rates have impacted the finances of 61% of Americans, an Allianz survey found. Some experts predict the Fed will raise interest rates again in July as inflation has not cooled to its target range.
High mortgage rates will weigh on the housing market for years
The U.S. housing market could take years to recover from the recent spike in mortgage rates, with property prices expected to fall at least 2.4% next year.
Nearly half of Americans say income is not keeping up with inflation: TransUnion
About half of Americans said income is not keeping up with inflation, a TransUnion survey reported. Plus, debt has reached record levels and the Fed may raise interest rates amid slowing, but high inflation.
Goldman Sachs trims US recession odds next year to 20%
Goldman Sachs economists lowered their probability of a U.S. recession within the next 12 months to just 20%, citing better-than-expected economic data.
Credit card debt rising in double-edged sword for the economy
Credit card debt is rising and while American consumers' spending shows confidence in their finances, high credit card interest rates loom as a threat if the economy slow.
US home prices still face a 'steep and sustained' decline this year, economist warns
U.S. home prices could still drop this year, according to a Pantheon economist, contrasting a narrative the housing market has recovered from higher mortgage rates.
Mortgage rates increase, despite inflation cooling: Freddie Mac
The average 30-year fixed rate mortgage rate increased to 6.96% for the week ending July 13, Freddie Mac reported.
Federal Reserve says Taylor Swift's Eras Tour responsible for rise in hotel revenue
The Philadelphia Federal Reserve is crediting pop star Taylor Swift's Eras Tour for a rise in hotel bookings for the first time since the coronavirus pandemic began.
Remote work could wipe out $800B from office building value by 2030
Commercial real estate faces a reckoning in the wake of the COVID-related shift to remote work, with $800 billion worth of office space worldwide at risk.
Where is inflation falling the fastest?
The Labor Department reported that inflation tumbled to 3% in June, but some parts of the country are seeing high prices dissipate faster than others.
Wholesale inflation prices ease in June, lowest in nearly 3 years
Two back-to-back inflation reports, the producer price index and the consumer price index, show inflation is easing from peak levels giving consumers and businesses a break.
Inflation rose just 3% in June as price pressures continue to cool
The Labor Department said the consumer price index showed that inflation cooled last month, but underlying price pressures remained stubbornly high.