Fed minutes: Most officials supported further rate cuts as worries about jobs rose
The minutes provide insight into how the Fed’s policymakers were thinking last month about inflation, interest rates, and hiring.
Inflation
Fed’s favored inflation gauge accelerates slightly
The increases in the Commerce Department’s personal consumption expenditures, or PCE, price index were what forecasters had expected.
Fed faces economic uncertainty, political pressure as it decides whether to cut rates
At this week’s Federal Reserve meeting, the decision it will make on interest rates—usually the main event—is just one of the key unknowns to be resolved when officials gather Tuesday and Wednesday.
Inflation worsened last month, putting Fed in difficult spot as job market slows
The reading is the last the Federal Reserve will receive before its two-day meeting that begins Tuesday, where policymakers are widely expected to cut their short-term rate.
United States supply chain prices unexpectedly fell in August
The drop in producer prices makes it even more likely that the Federal Reserve will cut its benchmark interest rate next week for the first time this year.
Coming price cuts at McDonald’s might signal broader fast food price war
Fast food visits by lower-income consumers dropped by double-digit percentages industrywide in the second quarter, McDonald’s said.
Key inflation gauge holds mostly steady, while core inflation ticks up
The report showed that consumer spending picked up last month and could boost economic growth.
Powell signals Fed may cut rates soon even as inflation risks remain
Federal Reserve Chair Jerome Powell opened the door ever so slightly to lowering a key interest rate in the coming months but suggested the central bank will proceed cautiously as it continues to evaluate the impact of tariffs and other policies on the economy.
US producer prices surge in July as Trump tariffs push costs higher
U.S. wholesale inflation surged unexpectedly last month, signaling that the president’s sweeping import taxes are pushing costs up and that higher prices for consumers may be on the way.
US inflation held steady as mild tariff hit offset by cheaper gas, food
Americans are likely to absorb more trade-war costs in the coming months as Trump begins to finalize tariffs.
Vast majority of adults stressed about grocery costs, poll finds
Other financial stressors—like the cost of housing or the amount of money in their bank accounts—weigh more heavily on younger Americans, according to polling.
Hershey, other chocolate makers hike prices as cocoa remains near record highs
Cocoa prices have more than doubled over the past two years due to poor weather and disease in West Africa, which supplies more than 70% of the world’s cocoa.
US wholesale inflation remains in check, defying expectations
Wholesale prices in June saw their smallest year-over-year gain since September, the Labor Department reported Wednesday.
Inflation picked up in June as tariffs began to lift prices
The price increases in June were broad-based, affecting imports such as cosmetics, shoes and toys, as well as services like medical care, car insurance and education.
Here’s how much more Hoosiers will pay for Fourth of July cookouts this year
The cost of a cookout in Indiana is slightly higher than that of the national average, according to Indiana Farm Bureau.
Americans cut back on spending as inflation ticks higher
Consumer sentiment has also fallen sharply this year in the wake of the sometimes-chaotic rollout of President Donald Trump’s tariffs.
Inflation barely rises as cheaper gas, rents offset some costlier imports
The data showes that tariffs haven’t yet pushed overall prices higher, which suggests that many companies could be absorbing the cost of the higher duties, for now.
Monthly inflation gauge cools, with little sign of tariff impact
The figures show inflation is still declining from its post-pandemic spike, which reached the highest level in four decades in July 2022.
Inflation rose slightly in April compared to March, but at a slower annual pace
More than half of the monthly increase in April was fueled by a 0.3 percent increase in shelter costs, the labor department said.
Federal Reserve likely to ignore Trump, keep rates unchanged this week
President Trump and Treasury Secretary Scott Bessent have said that inflation has steadily cooled and high borrowing costs are no longer needed to restrain price increases.