Fed's favored inflation gauge shows consumer prices eased in April
The Fed's preferred inflation gauge, the PCE index, showed that price growth eased in April as inflation numbers trended closer to the central bank's target.
Mortgage rates rise for third straight week, hover near 7%
The average rate on the 30-year fixed mortgage rose this week to 6.89%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.86%.
US weekly jobless claims rise more than expected as labor market eases
Weekly jobless claims in the U.S. increased more than expected in May to a seasonally adjusted 240,000 for the week ended May 24, according to the Labor Department.
US consumer confidence rebounds in May after 5-month slide
Consumer confidence in the U.S. rose for the first time in five months amid optimism about trade deals and improving expectations about business conditions.
Gas prices hit 4-year low ahead of Memorial Day weekend
Gas prices are falling to a four-year low as Americans prepare for Memorial Day weekend. AAA estimated that there will be 45.1 million travelers, of which 39.4 million will drive.
Mortgage rates rise to highest level since mid-February
The average rate on the 30-year fixed mortgage rose this week to 6.86%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.81%.
Buy now, pay later pitfalls: Many consumers aren't paying loans
Klarna's losses double even as buy now, pay later services grow in popularity. Experts have warned that these services can be a ticket to overspending.
Moody's downgraded US credit rating: What does that mean?
Moody's downgrade of the U.S. credit rating made it the third of the three major ratings agencies to downgrade U.S. credit since 2011 amid widening budget deficits.
US consumer sentiment drops to near record low in May on inflation worries, tariff uncertainty
The University of Michigan's Consumer Sentiment Index fell again in May after economists expected a modest increase. Consumer sentiment is at its lowest level in nearly three years.
Mortgage rates rise for 1st time in weeks, Freddie Mac says
The average rate on the 30-year fixed mortgage rose this week to 6.81%, according to the latest Freddie Mac data released on Thursday. That is up from last week's reading of 6.76%.
Powell warns economy could face more frequent 'supply shocks'
Fed Chair Jerome Powell spoke about how the central bank's monetary policy framework could shift if inflation is more volatile and supply shocks more common.
JPMorgan lowers recession probability after Trump's tariff truce with China
JPMorgan reduced its forecast for the chance of a recession this year after the U.S. and China temporarily lowered the higher tariffs they imposed.
Tariffs on the auto industry could take a hit on car insurance rates
Getting behind the wheel is about to get more expensive, with tariffs poised to raise the price of car insurance by nearly 10% later this year.
Inflation ticked slightly higher in April as tariff impact looms
The Bureau of Labor Statistics' latest consumer price index report showed that inflation ticked slightly higher in April as tariffs begin to have an economic impact.
Anheuser-Busch invests $300M to boost manufacturing careers, veteran employment
Anheuser-Busch announced its latest goal of investing $300 million in its facilities across the U.S. on Monday, a move it said will bolster manufacturing jobs throughout the nation.
$8 gas? New study reveals it may come to a blue state next year, triggering bipartisan concern
A recent study indicates that Californians could be paying as much as $8.43 per gallon of gas next year, as two refineries in the state have plans to shutter.
Mortgage rates hold steady, Freddie Mac says
The average rate on the 30-year fixed mortgage remained flat this week at 6.76%, according to the latest data from mortgage buyer Freddie Mac released on Thursday.
Fed holds interest rate steady as it waits to see impact of tariffs
Interest rates hold steady as the Fed studies the impact of economic tariffs.
Toyota sees $1.3B profit hit from Trump tariffs in 2 months
Toyota held an earnings press conference, talking about impacts of tariffs by President Donald Trump. The company's earnings look much different from last year.
With the economic tumult, a serious concern has emerged: stagflation
Economic uncertainty surrounding President Donald Trump's tariffs has raised concerns about stagflation hitting the U.S. economy through slow growth or contraction as well as higher prices.