Americans' net worth grew 37% after pandemic hit: Fed survey
American families posted double-digit percent increases in their real median net worths over the past three years. That's according to the Fed's Survey of Consumer Finances.
Elon Musk says he's worried about the 'high interest rate environment we’re in'
Tesla CEO Elon Musk said that he's worried about the impact of the high interest rate environment on car buyers and the economy at large during the company's earnings call.
Fed's Powell warns slower economic growth may be needed to cool high inflation
Federal Reserve Chair Jerome Powell said Thursday that inflation remains "too high" and that slower economic growth may be required for prices to cool.
Credit card delinquency rates and balances are on the rise
Credit card delinquency rates and balances increased in Q2 2023 amid a high interest-rate environment. But there are many ways to pay off debt quickly.
Fed Chair Powell escorted out of room as climate protesters interrupt start of speech
Climate protesters interrupted a speech by Federal Reserve Chairman Jerome Powell on Thursday, causing the central bank chief to be escorted off the stage.
Existing home sales fall for 6th month as supply crunch worsens
The sale of previously owned homes fell again in September as high mortgage rates and a worsening supply shortage left would-be buyers with few options.
Fed Chair Powell delivering key speech today: Here's what to expect
Federal Reserve Chairman Jerome Powell is delivering a speech on Thursday that will provide clues about where the central bank sees policy headed next.
US economy little changed in recent weeks: Fed's Beige Book
Economic activity in the United States was little changed over the last month and a half, according to a Federal Reserve report published on Wednesday.
Mortgage demand plummets to new three-decade low as rates race toward 8%
Home-purchase applications tumbled last week to the lowest level in nearly three decades as high interest rates and limited availability weighed on demand.
Homebuilder sentiment continues downward spiral amid spike in mortgage rates
Confidence among builders in the U.S. housing market plunged to the lowest level since January 2023 as stubbornly high mortgage rates weighed on demand.
Home foreclosures are on the upswing nationwide
Home foreclosures are on the upswing nationwide, according to a new report, a sign that homeowners are still struggling from the ongoing inflation crisis.
September inflation breakdown: Where are prices rising the fastest?
Inflation stayed unusually high in September due to an uptick in the cost of energy, rent and food, and it continued to squeeze millions of U.S. households.
Fixed mortgage rates march higher, demand for adjustable-rate loans jumps
Average rates for fixed-rate mortgages rose again this week while demand for adjustable rate mortgages rose, signaling that prospective buyers are looking for relief from high payments.
Inflation rises more than expected in September as high prices persist
The Labor Department released the closely watched September consumer price index report on Thursday, revealing just how hot inflation ran last month.
September inflation report likely to show prices 'still too hot to handle'
The Labor Department on Thursday will release new September consumer price index data, which is expected to show that inflation remained unusually high.
Fed meeting minutes indicate interest rates could remain high for 'some time'
Federal Reserve meeting minutes released Wednesday indicate that central bank officials expect to hold interest rates at elevated levels for "some time."
Wholesale inflation accelerates more than expected in September
The Labor Department said Wednesday that its producer price index, which measures inflation at the wholesale level, surged more than expected in September.
Atlanta Fed chief Bostic doesn't see a need for more rate hikes
Atlanta Federal Reserve Bank President Raphael Bostic said he thinks the Fed's rate hikes to date may have been enough to bring down inflation without the need for another.
Americans see high inflation sticking around in latest New York Fed survey
A New York Federal Reserve survey released Tuesday shows consumers are bracing for inflation to remain above the central bank's 2% target in the long term.
Housing inventory remains painfully low as shortage persists
The total number of homes for sale on the market tumbled in September for the fifth straight month, a sign the housing shortage is continuing to deepens.