Inflation climbed 8.5% in July as prices cool but remain near record high
Painfully high inflation persisted in July as the consumer price index hovered near a 40-year high, continuing to create financial pressure for millions of U.S. households.
Fed could approve 100-basis point interest rate hike after jobs shocker, Citi says
The Federal Reserve could approve a historic full-percentage point interest rate increase at its meeting in September following the hotter-than-expected July jobs report.
Americans' inflation expectations declined sharply in July, New York Fed says
A New York Federal Reserve survey out on Monday showed that consumers expect inflation to decline sharply over the next year as the central bank raises interest rates.
July jobs report 'scorcher' raises odds of another super-sized Fed rate hike
The Federal Reserve may have no choice but to approve another mega-sized interest rate hike in September following the hotter-than-expected July jobs report.
Fed officials signal more interest rate hikes to come, despite growing recession risks
Federal Reserve officials have said in recent days that they plan to continue hiking rates until there's clear evidence inflation is falling, despite fears of a slowdown.
Sen. Sherrod Brown blames Fed Chair for misleading Biden on inflation
Sen. Sherrod Brown criticized the Federal Reserve chair in a recent Fox Business interview, saying his talk of inflation being transitory mislead the president.
Fed's Powell says he does not think US economy is in a recession
Federal Reserve Chairman Jerome Powell said Wednesday that the strong labor market likely means the U.S. economy is not in a recession, despite growing fears.
Fed raises interest rates by 75 basis points in another historic move to tackle inflation
The Federal Reserve on Wednesday approved another super-sized interest rate hike as it tries to tackle inflation, which hit another record-high in June.
NYC's bacon, egg and cheese hit by inflation
Bacon, egg and cheese, a New York City breakfast tradition, is reportedly being hit by inflation. Bodega owners have had to increase costs for the sandwich.
China targeted Federal Reserve employees in an attempt to undermine American monetary policy: Senate report
For nearly a decade, China has been targeting Federal Reserve employees in an attempt to undermine American monetary policy, according to a Senate report.
Fed prepares another mega-sized rate hike, risking deeper economic downturn
The Federal Reserve is expected to approve another massive interest rate increase at the end of its two-day meeting on Wednesday as it ramps up its inflation battle.
Fed's united front on interest rates may soon be tested
The Federal Reserve is expected to raise interest rate this week by an estimated three-quarters percentage point which puts the target range between 2.25% to 2.5%.
Citi forecasts historic 100-basis point Fed rate hike after inflation shocker
The Federal Reserve could approve a historic, 100-basis point interest rate hike when they meet at the end of July following the sizzling-hot inflation data released this week.
Searing-hot inflation data opens door to 100-basis point Fed rate hike in July
The hotter-than-expected June inflation report is fueling bets that the Federal Reserve will approve a 100-basis point interest rate hike, a historic move to fight rising prices.
Fed's Powell met with lawmakers on Capitol Hill ahead of June inflation report
Republican Sen. John Barrasso said Wednesday that he met with Federal Reserve Chairman Jerome Powell one day before the Labor Department released the June inflation data.
Inflation likely hit fever pitch in June with consumer prices surging again
Inflation is expected to have surged again in June, with the Labor Department's consumer price index likely climbing by 8.8%, notching another four decade high.
Wednesday's trading: 5 things to know
Here are the key events taking place on Wednesday that could impact trading including the release of the minutes from the Fed's most recent meeting and reports on jobs openings and the service sector.
Powell says there is 'no guarantee' Fed can tamp down inflation without hurting the job market
Federal Reserve Chair Jerome Powell said Wednesday there is "no guarantee" the central bank will be able to tackle inflation without sacrificing jobs.
Small business pain points to recession
Historic inflation is not mainly a result of Russia's war in Ukraine, and the Federal Reserve's interest rate hikes may cause a recession.
Former Obama economist warns stagflation threat level is 'highest in a long time'
A former Obama economist warned the U.S. economy could experience a return to 1970s-style stagflation as the Federal Reserve combats inflation with rate hikes.