Latest Inflation News

Protests subside, but economic aftershocks rattle Haitians

Dec. 7, 2019 11:35 AM EST

Port-au-Prince (AP) — The flaming barricades are mostly gone, protesters have largely dissipated and traffic is once again clogging the streets of Haiti’s capital, but hundreds of thousands of people are now suffering deep economic aftershocks after more than two months of demonstrations. The...

How a central banker’s low-rate shift showed the way for Fed

Nov. 29, 2019 11:17 AM EST

RICHMOND, Virginia (AP) — In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned. Months earlier, with Bullard’s support, the Fed had raised rates for the first time in seven years. Panicky financial...

Eurozone unemployment’s falls to lowest rate since July 2008

Nov. 29, 2019 5:50 AM EST

LONDON (AP) — Unemployment across the 19-country eurozone has fallen to its lowest rate since July 2008 even though growth is cooling in the face of headwinds like the U.S.-China trade war and uncertainty related to Britain’s departure from the European Union. The European Union’s statistics...

US consumer spending up 0.3% in October but incomes are flat

Nov. 27, 2019 11:15 AM EST

WASHINGTON (AP) — Americans increased their spending in October at the fastest rate in three months even though income growth was essentially flat, its weakest showing in 13 months. The Commerce Department said Wednesday that consumer spending rose 0.3% last month, the best gain since a 0.5% rise in July....

Powell: Solid economy but tame inflation allows low rates

Nov. 25, 2019 7:51 PM EST

Federal Reserve Chairman Jerome Powell on Monday sketched an optimistic view of the economy but signaled that continued low inflation means higher interest rates won’t likely be necessary anytime soon. Powell said that even with unemployment near a 50-year low of 3.6%, there’s still “plenty...

Jerome meets Jasmine: Fed chief observes economic struggles

Nov. 25, 2019 4:10 PM EST

EAST HARTFORD, Connecticut (AP) — Federal Reserve Chairman Jerome Powell normally spends his days in the marble halls of Washington, meeting with senators and Fed economists. On Monday, he learned about the job market from an 18-year-old named Jasmine. A recent high school graduate, Jasmine Ayala explained...

Complications in school funding claims amid Indiana protest

Nov. 23, 2019 10:32 AM EST

INDIANAPOLIS (AP) — Top Indiana Republicans touted “record investment” in school spending and big teacher pay raises by some school districts in defending themselves as thousands of teachers turned out for a Statehouse rally this past week calling for a bigger boost in education funding....

Fed minutes: Officials felt 3 cuts this year could be enough

Nov. 20, 2019 3:51 PM EST

WASHINGTON (AP) — Most Federal Reserve officials believed last month that the three rate cuts they have made this year would be enough unless the economy weakened significantly. The minutes of the October Fed meeting, released Wednesday, reveal that “most participants” thought that this...

Cost of Salt Lake City mayoral portraits rises to $35,000

Nov. 19, 2019 11:41 AM EST

SALT LAKE CITY (AP) — The cost of hand-painted Salt Lake City mayoral portraits has risen significantly over the last two decades with outgoing Mayor Jackie Biskupski’s painting expected to cost about $35,000. That budgeted taxpayer cost being considered by the Salt Lake City council for the...

Fed’s Powell sees steady growth, signals pause in rate cuts

Nov. 13, 2019 4:27 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy shows signs of worsening. But for now, in testimony before a congressional panel, Powell expressed optimism about...