Federal Reserve

Millions of workers received a 2.8% pay cut in October when accounting for stubbornly and painfully high inflation, which surged more than expected last month.

Inflation continued to hover near a 40-year high last month, squeezing Americans in the form of higher prices for basic necessities like groceries, rent and electricity.

The Labor Department released the latest inflation data set on Thursday, revealing just how hot consumer prices ran in October as the Fed tries to cool the economy.

The consumer price index likely surged again in October as inflation remains near a 40-year high, continuing to inflict financial pain on millions of Americans.

Former Treasury Secretary Larry Summers warned this week that the Federal Reserve may need to hike rates above 6% in order to crush unrelenting inlfation.

Winners of the U.S. midterm election will have the power to shape the U.S. economic outlook with powerful fiscal policy including potential tax changes.

With midterm elections underway, voters will head to the polls as they remain concerned about the state of the economy amid the hottest inflation in decades.

Midterm election years are historically a bonus for investors, yet this year, with inflation and recession woes, more headwinds exist. The S&P 500 is down 20%.

As Americans see their purchasing power get squeezed out by inflation, here's what you can do to stay on track.

Rising mortgage rates and high home prices have brought consumer confidence in the U.S. housing market to the lowest level in over a decade, according to Fannie Mae.

Federal Reserve Bank of Minneapolis president Neel Kashkari reinforces Jerome Powell's take that more interest rate hikes will be necessary to tackle inflation.

The economy added 261,000 new jobs in October, indicating economic growth, according to the latest jobs report from the Bureau of Labor Statistics.

ECB President Christine Lagarde said central bankers must be "prepared to take the necessary decisions, however difficult, to bring inflation back down.

October's job report signals the Federal Reserve is facing more challenges in its quest to cool the economy and tame inflation that remains near a 40-year high.

A widely anticipated 75 basis point interest rate hike was announced by the Federal Reserve on Wednesday.

Harvard economist Ken Rogoff argues the chances of a "significant" U.S. recession are "pretty high," and labor will soon catch up with the Fed's rate hikes.

While the housing market could bring the economy into a recession next year, it could also bring it out, economists at the Mortgage Bankers Association (MBA) conference said.

Federal Reserve Chairman Jerome Powell signaled on Wednesday that more interest rate hikes are coming as the U.S. central bank struggles to get inflation under control.

The interest rate on personal loans is much lower than the one on credit cards, according to the Federal Reserve Bank of St. Louis. Here’s how you can use these lower interest rates to pay down debt.

The Federal Reserve enacted its fourth consecutive 75-basis-point interest rate hike as it attempts to cool inflation without triggering an economic recession.