Economy

An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. The personal consumption expenditures price index increased 0.1% on the month and was up 2.5% from a year ago, in line with Dow Jones estimates,

Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, increased at

Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York, US, on Thursday, May 16, 2024.  Alex Kent | Bloomberg | Getty Images Wall Street’s favorite recession signal started flashing red in 2022 and hasn’t stopped — and thus far has been wrong every step of the way. The yield

Seen through the branches of trees in Ruskin Park are the lit porches of terraced period homes and in the distance, the growing development at Nine Elms, on 14th May 2024, in London, England.  Richard Baker | In Pictures | Getty Images LONDON — The International Monetary Fund on Tuesday lifted its 2024 growth outlook

The International Monetary Fund warned Tuesday that upside risks to inflation have increased, calling into question the prospect of multiple Federal Reserve interest rate cuts this year.  In its latest World Economic Outlook update, the IMF said “the momentum on global disinflation is slowing, signaling bumps along the path.” The rise in sequential inflation in

Alexander Spatari | Moment | Getty Images U.K. inflation held steady at the Bank of England’s 2% target in June, Official National Statistics data showed Wednesday. The headline reading came in above analyst expectations at 1.9%, according to economists polled by Reuters, and was in line with the previous 2% reading in May. Sterling rose

Golden Horn and Bosphorus at sunset, Istanbul, Turkey Matteo Colombo | Digitalvision | Getty Images Turkey came out miles ahead of the rest of the world in an annual global wealth ranking — in a result that may come as surprising, given the country’s high levels of inflation. “Türkiye stands out with a staggering growth

Republican presidential nominee and former U.S. President Donald Trump raises his fist during Day 1 of the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 15, 2024.  Elizabeth Frantz | Reuters Donald Trump will allow Federal Reserve Chair Jerome Powell to complete his term at the central bank if he

[The stream is slated to start at 12:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell is set to address the Economic Club of Washington, D.C., on Monday as traders look for hints about when the central bank will cut interest

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut interest rates. Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to

Former US President Donald Trump during a campaign event at Trump National Doral Golf Club in Miami, Florida, US, on Tuesday, July 9, 2024. Eva Marie Uzcategui | Bloomberg | Getty Images With markets in recent weeks cranking up their bets that Donald Trump will win the presidential election, Goldman Sachs economists say that another

A home available for sale is shown on May 22, 2024 in Austin, Texas.  Brandon Bell | Getty Images When Rachel Burress moved into her mother’s house around a decade ago, it seemed like a short-term stop on the path to homeownership. The 35-year-old hairdresser spent those years improving her credit score and saving for

Prospective home buyers leave a property for sale during an Open House in a neighborhood in Clarksburg, Maryland on September 3, 2023. Roberto Schmidt | AFP | Getty Images It’s no secret that the housing market looks far different than it did a few years ago. While surging mortgage rates and housing prices have taken

Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Tuesday, July 9, 2024. Bloomberg | Bloomberg | Getty Images Markets now firmly expect a September interest rate cut in the U.S., but the Federal Reserve has a strong reason to hold

A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index climbed 0.2% last month, the Labor Department’s Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones were expecting a 0.1% increase for the index.

City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile.

The monthly inflation rate dipped in June for the first time in more than four years, providing further cover for the Federal Reserve to start lowering interest rates later this year. The consumer price index, a broad measure of costs for goods and services across the U.S. economy, declined 0.1% from May, putting the 12-month

An Aldi supermarket in Alhambra, California, on June 27, 2024. Eric Thayer | Bloomberg | Getty Images A widely anticipated inflation report on Thursday may solidify expectations for the Federal Reserve to cut interest rates in coming months. The consumer price index, or CPI, report for June is due out at 8:30 a.m. ET. Recent