Solid May job growth seals the deal for more mega-sized Fed rate hikes
The Labor Department's May jobs report came in better than expected, paving the way for a series of half-point rate hikes at upcoming Federal Reserve meetings.
US economy will slow markedly but dodge a recession as Fed hikes rates, Goldman predicts
The Federal Reserve may successfully engineer a "soft landing," and bring inflation down without causing a recession, according to Goldman Sachs economists.
What the next economic recession could look like
The Federal Reserve may trigger a recession with its war on inflation, but economists think the downturn will be a mild one.
May jobs report expected to show hiring waned as White House warned
The Labor Department's May jobs report is expected to show that while payroll growth continued at a modest pace, it slowed markedly from previous months.
Fed's Beige Book reports US economy slowing in some areas as inflation roars
The Federal Reserve said in a new report Wednesday that inflationary pressures, a labor shortage and supply chain bottlenecks continued to weigh on businesses.
Fed starts shrinking $8.9T balance sheet to combat sky-high inflation
Federal Reserve officials will begin winding down their massive balance sheet on Wednesday at a combined monthly pace of $47.5 billion.
Biden vows Fed independence ahead of meeting with Powell over inflation battle
President Biden and Federal Reserve Chairman Jerome Powell will focus on the U.S. economy, particularly soaring inflation, during a rare White House meeting on Tuesday.
US consumers expect high inflation to persist this year, NY Fed survey shows
A New York Fed survey shows that most U.S. households think the high inflation environment will not fade over the next 12 months.
Fed's preferred inflation gauge rose 4.9% in April, still near 40-year high
The Fed's preferred gauge to track inflation climbed 4.9% in April from the previous year, close to the highest level since 1983.
Fed minutes suggest interest rate hikes could come faster than the market expects
The Federal Reserve released minutes from its May meeting, which showed that policymakers are prepared to move more rapidly to raise rates than the market may expect.
When will the stock market hit bottom? Goldman says watch for this signal
Stock equities are likely to see further losses, according to Goldman Sachs strategists, until the Federal Reserve signals that interest rate hikes are coming to an end.
What is a soft landing, and why does the Fed keep talking about it?
The Federal Reserve faces a new challenge as it tries to tame inflation and cool consumer demand, without inadvertently triggering an economic recession.
Ben Bernanke assesses the Fed, Powell and inflation
Former Federal Reserve Chairman Ben Bernanke draws from his own experience in handling the financial crisis of 2007-2009 as current Chairman Powell faces his own as inflation rages.
Former Fed Chair Bernanke says inflation today isn't 'anywhere near' 1970s price spike
Ben Bernanke, the former Federal Reserve chairman, said the inflation spike that Americans are experiencing today is very different from that of the 1970s.
Is a recession coming? Signs the economy is beginning to crack
Wall Street is increasingly convinced that the Federal Reserve is going to drag the economy into a recession with its war on inflation.
White House admits stock market 'not something we keep an eye on every day'
White House press secretary Karine Jean-Pierre said Wednesday that the stock market, which continues to witness erratic trading amid soaring inflation, is not something the White House tends to “keep an eye on every day.”
US economy heading into downturn, Wells Fargo CEO warns: 'No question'
With the Federal Reserve moving rapidly to tame sky-high inflation by aggressively raising the benchmark federal funds rate, Charlie Scharf said that it is likely there will be some economic fallout.
Powell says Fed 'won't hesitate' to hike interest rates until inflation falls
Fed policymakers hiked the benchmark federal funds rate by a half point earlier this month, and Chairman Jerome Powell has all but promised that two, similarly sized increases are on the table at the forthcoming meetings in June and July.
Former Fed chair warns US economy faces stagflation after central bank missed inflation
Fed Chairman Jerome Powell and his colleagues initially operated under the assumption that higher inflation was narrowly related to the COVID-19 pandemic, and that once virus cases started to decline, prices would stabilize too.
Powell: Failing on inflation means deeper downturn
Federal Reserve Chairman Jerome Powell was confirmed by the Senate on Thursday for a second term heading the central bank and guiding U.S. monetary policy.