JPMorgan's Dimon says stagflation is possible outcome for US economy, but he hopes for soft landing

NEW YORK (AP) — JPMorgan CEO Jamie Dimon says stagflation could be one of a number of possible outcomes for the U.S. economy as the Federal Reserve attempts to tame stubbornly high consumer prices. In an interview with The Associated Press at a Chase branch opening in The Bronx,...

Stock market today: Alphabet and Microsoft push Wall Street toward its first winning week in a month

NEW YORK (AP) — Alphabet and Microsoft are leading the U.S. stock market on Friday toward the finish of its first winning week in the last four. The S&P 500 was 1.1% higher in morning trading and on track for its best week since November. The Dow Jones Industrial Average was up...

Fed's preferred inflation gauge shows price pressures stayed elevated last month

WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid. Friday's report...

An inflation gauge closely tracked by the Federal Reserve shows price pressures remain elevated

Stock market today: Asian benchmarks mostly climb despite worries about US economy

TOKYO (AP) — Asian shares mostly rose Friday despite worries about the economic outlook and inflation in the U.S. and the rest of the world. The Bank of Japan ended a policy meeting with no major changes, keeping its benchmark interest rate in a range of 0 to 0.1%. In March, it...

These apps allow workers to get paid between paychecks. Experts say there are steep costs

NEW YORK (AP) — When Anna Branch, 37, had her hours at work reduced in 2019, she suddenly noticed ads for an app called EarnIn. “You know how they get you — the algorithms — like they’re reading your mind,” Branch said. “The ad said I could get up to $100 this week and...

Bel Fuse: Q1 Earnings Snapshot

WEST ORANGE, N.J. (AP) — WEST ORANGE, N.J. (AP) — Bel Fuse Inc. (BELFB) on Thursday reported first-quarter earnings of $15.9 million. The West Orange, New Jersey-based company said it had net income of $1.26 per share. The maker of electronic products for circuits...

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates

WASHINGTON (AP) — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross...

Minneapolis smokers to pay some of the highest cigarette prices in US with a $15 per-pack minimum

MINNEAPOLIS (AP) — Smokers in Minneapolis will pay some of the highest cigarette prices in the country after the City Council voted unanimously Thursday to impose a minimum retail price of $15 per pack to promote public health. The ordinance not only sets a floor price. It prevents...

Average long-term US mortgage rate climbs for fourth straight week to highest level since November

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what's traditionally the housing market's busiest time of the year. The average rate on a 30-year mortgage rose to 7.17% from...