Latest Inflation News

Federal Reserve Chair Jerome Powell testifies during a House Select Subcommittee on the Coronavirus Crisis hearing on Capitol Hill in Washington on Wednesday, Sept. 23, 2020. (Kevin Dietsch/Pool via AP)

Powell faces lawmakers' skepticism on some Fed aid programs

Sep. 23, 2020 1:54 PM EDT

WASHINGTON (AP) — Chairman Jerome Powell on Wednesday defended the Federal Reserve's efforts to support the economy during the pandemic-induced recession from assertions that its programs bungled aspects of its response. A House subcommittee released a staff analysis that found that a program in which the...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. (AP Photo/Ahn Young-joon)

Asian stocks retreat on lack of new Fed action

Sep. 16, 2020 11:28 PM EDT

Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. Market benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all retreated. Wall Street's benchmark S&P 500 index...

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington.  The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.  The Fed on Wednesday, Sept. 16,  also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March.  (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

Sep. 16, 2020 6:55 PM EDT

WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve policymakers will meet this week for the first time since they significantly revised the Fed's operating framework in ways that will likely keep short-term interest rates near zero for years to come.  (AP Photo/Patrick Semansky, File)

Text of the Fed's statement after its meeting Wednesday

Sep. 16, 2020 2:08 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals. The COVID-19...

Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023

Sep. 16, 2020 2:01 PM EDT
WASHINGTON (AP) — Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023.
FILE - In this Jan. 30, 2019, file photo, Federal Reserve Chairman Jerome Powell waits for a question from a reporter at a news conference in Washington. Federal Reserve policymakers will meet for two days beginning Tuesday, Sept. 15, 2020, for the first time since they significantly revised the Fed’s operating framework in ways that will likely keep short-term interest rates near zero for years to come. (AP Photo/Alex Brandon, File)

Federal Reserve to meet after sharp changes to its outlook

Sep. 15, 2020 6:54 AM EDT

WASHINGTON (AP) — Federal Reserve policymakers will meet this week for the first time since they significantly revised the Fed's operating framework in ways that will likely keep short-term interest rates near zero for years to come. As a result, analysts expect the Fed will keep its benchmark rate...

FILE - In this July 9, 2020 file photo, signage is shown at the New York Stock Exchange, in New York. Stocks are rising modestly in early trading on Wall Street as a bumpy, holiday-shortened week of trading winds down. The S&P 500 was up 0.4% in the early going Friday, Sept. 11.  (AP Photo/Mark Lennihan, File)

Tech falters again as Wall Street ends worst week in months

Sep. 11, 2020 4:38 PM EDT

NEW YORK (AP) — Wall Street closed out its worst week since June with another day of churning trading Friday, as big technology stocks resumed their suddenly weakened ways. The S&P 500 rose 1.78, or 0.1%, to 3,340.97, but only after a roller-coaster day where a gain of 0.9% gave way to a loss of 0.9%....

FILE - In this March 31, 2020 file photo, a worker cleans and sanitizes a pump at the Speedway gas station in Concord, N.H. U.S. consumer prices rose 0.4% in August as energy prices moderated after big gains in the previous two months.(AP Photo/Charles Krupa, File)

Consumer prices up 0.4% in August as used car prices surge

Sep. 11, 2020 3:08 PM EDT

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in August as used car prices surged by the largest amount in 51 years, the Labor Department reported Friday. The August increase in the consumer price index reflected some moderation following big gains of 0.6% in both June and July as the pace of energy...

Currency traders watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Friday, Sept. 11, 2020. Asian shares were mixed Friday following a selloff of technology shares on Wall Street.  (AP Photo/Lee Jin-man)

Asian shares mixed after technology fall leads US stock fall

Sep. 10, 2020 11:41 PM EDT

TOKYO (AP) — Asian shares were mixed Friday following a selloff of technology shares on Wall Street. Japan's benchmark Nikkei 225 recouped early losses to rise 0.3% in morning trading to 23,310.94. South Korea's Kospi dropped 0.8% to 2,377.92, while Australia's S&P/ASX 200 lost 0.8% to 5,860.50. Hong...

The European Central Bank is seen in Frankfurt, Germany, Thursday, Sept. 10, 2020. The governing council of the ECB will meet on Thursday. (AP Photo/Michael Probst)

European Central Bank expects to use full extent of stimulus

Sep. 10, 2020 2:32 PM EDT

FRANKFURT, Germany (AP) — European Central Bank head Christine Lagarde said the bank would “likely” use all of the 1.35 trillion euros ($1.6 trillion) in planned stimulus to support the economy through the pandemic, which has caused a massive recession and is seeing a new rise in contagions....