Inflation
Fed鈥檚 Powell notes inflation is easing but downplays discussion of interest rate cuts
Inflation is slowing steadily, but it鈥檚 too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said.
The world economy will slow next year because of inflation, high rates and war, OECD says
The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates.
Stock market today: Asian shares mostly higher ahead of US price update, OPEC+ meeting
BANGKOK (AP) 鈥� Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna.
Fed鈥檚 Waller raises possibility of a rate cut by spring if inflation keeps slowing
A key Federal Reserve official raised the possibility that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.
Biden says he鈥檚 helped lower inflation as he hosts first meeting of his new supply chain council
President Joe Biden has opened the first meeting of his supply chain resilience council by warning companies against price gouging and saying that his administration is working to lower costs for U.S. families.
This Week in Business: Consumer confidence, inflation update, Dollar Tree earnings
The Conference Board issues its consumer confidence report for November on Tuesday. Dollar Tree reports its latest financial results on Wednesday, giving investors a glimpse into consumer spending habits at discount retailers.
Stock market today: Asian shares mostly higher ahead of consumer confidence and price data
Shares are mixed in Asia after Wall Street benchmarks edged lower as investors looked ahead to updates on inflation and how American consumers are feeling about the economy.
Russian consumers feel themselves in a tight spot as high inflation persists
The shelves at Moscow supermarkets are full of fruit and vegetables, cheese and meat. But many of the shoppers look at the selection with dismay as inflation makes their wallets feel empty.
Stock market today: Wall Street ends mixed in half-day session, marks fourth straight winning week
Stocks drifted to a mixed finish after a half-day trading session capped a holiday shortened week that left the major indexes with their fourth straight winning week.
Retailers offer bigger Black Friday discounts to lure hesitant shoppers hunting for the best deals
Retailers try big discounts and other enticements to lure shoppers to stores for Black Friday. But they worry those may not be enough.
Turkey鈥檚 central bank hikes interest rates again as it tries to tame eye-watering inflation
Turkey鈥檚 central bank has delivered another huge interest rate hike as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods.
Retailers are ready to kick off Black Friday just as shoppers pull back on spending
Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements.
After the dollar-loving Milei wins the presidency, Argentines anxiously watch the exchange rate
The exchange rate is top of mind for millions of Argentines coping with triple-digit inflation. Now they are anxious for signs of what the victory of President-elect Javier Milei will mean for the value of the peso.
Federal Reserve minutes: Officials saw inflation slowing but will monitor data to ensure progress
Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting.
Stock market today: Asian shares slip following a weak close on Wall Street
Shares are mostly lower in Asia after Wall Street鈥檚 rally ran out of momentum. Tokyo and Mumbai advanced while most other major markets declined.
Key Fed official sees possible 鈥榞olden path鈥� toward lower inflation without a recession
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested that the economy appears to be on what he calls the 鈥済olden path,鈥� another term for what economists often term a 鈥渟oft landing,鈥� in which the Fed would curb inflation without causing a deep recession.
Why Americans feel gloomy about the economy despite falling inflation and low unemployment
Inflation has reached its lowest point in 2 1/2 years. The unemployment rate has stayed below 4% for the longest stretch since the 1960s.
Retail sales slip in October as consumers pull back after summer splurges
Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars.
US producer prices slide 0.5% in October, biggest drop since 2020
U.S. wholesale prices fell sharply last month as inflationary pressure continued to ease in the face of a year and a half of higher interest rates.
Target tops third quarter profit expectations, but inflation weighs on shoppers
Target on Wednesday reported a hefty third-quarter profit increase that handily beat Wall Street expectations, benefiting from efforts to hold down costs.
Economy has lost momentum during a tough year, EU commission says and warns of risk from Mideast
The European Union鈥檚 executive commission has lowered growth its expectations for this year and next, saying the economy 鈥渉as lost momentum鈥� as inflation discourages consumers and higher interest rates deter borrowing for purchases and investment.
UK government meets pledge to halve inflation this year as rate falls to 2-year low of 4.6%
Inflation in the U.K. dropped sharply in October to its lowest level in two years largely because last year鈥檚 steep rise in domestic energy bills dropped out of the annual comparison.
Stock market today: Asian shares fall over China-US jitters following Biden鈥檚 meeting with Xi
Asian shares have retreated after Wall Street added a bit more to its big rally from a day before. Oil prices and U.S. futures also were lower.
The bird flu outbreak isn鈥檛 over, but it鈥檚 less severe, helping egg and poultry prices recover
Nearly 5 million chickens, turkeys and other birds have been slaughtered this year because of a persistent bird flu outbreak that began in 2022.
Home Depot sales continue to slide but the biggest home improvement chain still tops expectations
Home Depot is continuing to see its sales decline amid inflation concerns, and the home improvement retailer narrowed its fiscal 2023 outlook.
Stock market today: Asian shares get a lift from rally in US following encouraging inflation report
Asian shares are mostly higher, cheered by a rally on Wall Street that was one of the best days of the year following a surprisingly encouraging report on inflation.
What鈥檚 pushing inflation down? More goods, workers and housing
Long past its painful peak, inflation in the United States may be heading steadily back toward its pre-pandemic levels, without the need for further interest rate hikes by the Federal Reserve.
This Week: Consumer price index, retail sales, housing starts
The Labor Department releases its October snapshot of U.S. consumer prices Tuesday. The Commerce Department delivers its U.S. retail sales data for October on Wednesday and its latest monthly housing starts figures on Friday.
British economy flatlines in third quarter of the year, update shows ahead of budget statement
The British economy flatlined in the third quarter of the year. The Office for National Statistics said Friday that growth in the July to September period was zero compared to the previous three months.
Stock market today: Wall Street rallies and adds to its strong gains in November
Wall Street rose sharply to add to an already strong November, which is on track to be one of the market鈥檚 best months of the year.
Powell reinforces Fed鈥檚 cautious approach toward further interest rate hikes
Federal Reserve Chair Jerome Powell suggested that the Fed is in no hurry to further raise its benchmark interest rate, given evidence that inflation pressures are continuing to ease at a gradual pace.