Federal Reserve

The Federal Reserve paused its 15-month interest rate hike campaign on Wednesday after government data pointed to a sharp slowdown in inflation last month.

The Labor Department said Wednesday the producer price index slid 0.3% in May, evidence that price pressures in the economy are continuing to dissipate.

The Federal Reserve will likely pause its 15-month interest rate hike campaign Wednesday after government data pointed to a sharp slowdown in inflation.

Inflation dropped in May, reaching nearly half of its peak last Summer. And while the decrease could cause the Fed to pause its rate hikes in June, the rate hikes could continue this year.

The Labor Department said the consumer price index showed that inflation cooled last month, but that underlying price pressures remained stubbornly high.

Americans' worries about rising inflation have hit the lowest point in more than two years, but now consumers are increasingly concerned about access to credit.

The Federal Reserve's decision on rates, consumer and producer inflation data, retail sales, GameStop's annual meeting and a potential spicy IPO top the week ahead on Wall Street.

Economists expect the Federal Reserve to pause interest rate increases during its June meeting, but they are divided over the possibility of future hikes.

Applications for unemployment benefits last week climbed to the highest level since October 2021, the latest evidence the labor market is slowing down.

The Organization for Economic Cooperation and Development said in its latest Economic Outlook that the world economy faces a "long" road to recovery in the face of stubborn inflation and high interest rates.

Home-purchase applications fell last week as high mortgage rates weighed on consumer demand, according to a survey from the Mortgage Bankers Association.

The World Bank said in an updated forecast on Tuesday that high interest rates and stubbornly high inflation will hobble the global economy this year.

Morgan Stanley analysts warned that the recent stock market rally could end this year as earnings per share for the benchmark index S&P 500 slide 16%.

This week: Apple to unveil new VR headset; Lexus, Porsche and Honda to all unveil new cars; Activision to reveal new game; Janet Yellen to testify before Congress.

JPMorgan Chase Chief Operating Officer Daniel Pinto offered his take Friday on the economy and the direction U.S. interest rates could be headed.

The May jobs report released Friday provided a key look at the labor market's health amid the Federal Reserve's aggressive interest rate-hike campaign.

The Labor Department's May jobs report is expected to show that the U.S. economy added 190,000 jobs last month despite aggressive interest-rate hikes.

Private U.S. companies saw another month of better-than-expected job growth in May, despite the Federal Reserve's aggressive efforts to fight inflation.

Home-purchase applications plummeted 4.6% last week as higher mortgage rates weighed on demand, according to a new survey from the Mortgage Bankers Association.

The Labor Department on Wednesday reported that U.S. job openings surged to a three-month high despite the Federal Reserve's interest-rate hike campaign.