Chair Jerome Powell’s written testimony Tuesday marked a shift in emphasis away from the Fed’s single-minded fight against inflation that suggests it’s moving closer to cutting interest rates.
inflation
Posted inBusiness
Fed chair: U.S. inflation cooling again, though it isn’t yet time to cut rates
If the Fed cuts rates too soon, inflation could re-accelerate. But if it waits too long to reduce borrowing costs, it risks weakening the economy so much as to potentially cause a recession.
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Posted inBusiness, Nation & World, News
Federal Reserve sees progress on inflation but envisions just 1 rate cut this year
The policymakers said the economy is growing at a solid pace, while hiring has ‘remained strong’ and there has been ‘modest’ further progress toward its 2% inflation target.
Posted inBusiness, Nation & World, News
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
In the U.S., a big reason why inflation remains above the Fed’s target is that distortions stemming from the pandemic are still keeping prices elevated.
Posted inBusiness, Nation & World, News
Major retailers are offering summer deals to entice inflation-weary shoppers
Target, Walmart and other chains have rolled out price cuts – some permanent, others temporary – with the stated aim of giving their customers some relief.
Posted inBusiness
Target reports sales decline as discretionary spending remains tepid
U.S. consumers remain resilient, though the broader environment remains complicated and challenging, executives said.
Posted inBusiness, Health, Local & State
As demand to insure pets grows in Maine, employers are starting to offer coverage
Maine companies don’t contribute to expenses, but some offer group coverage plans. Many in the veterinary industry, where prices keep rising, say it’s worth the cost.
Posted inBusiness, Nation & World
Walmart’s strong first quarter driven by Americans seeking bargains as inflation remains an issue
Walmart reported another quarter of strong results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.
Posted inBusiness, Nation & World, Politics
Inflation is overshadowing U.S. economic resilience, hurting Biden
Most economists say the underlying momentum of the U.S. economy remains strong. But growth and jobs – which have been surprisingly sturdy – have generated little tangible benefit to Biden’s hopes for reelection.
Posted inBusiness, Nation & World, News
Retail sales surge 0.7% in March as Americans seem unfazed by higher prices
The snapshot offers only a partial look at consumer spending and doesn’t include many services, including travel and hotel lodges. But the lone services category – restaurants – registered an uptick of 0.4%.