National Newswatch

Fed saw evidence of a slowing economy at its last meeting

Aug 17 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — Federal Reserve officials saw signs that the U.S. economy was weakening at their last meeting but still called inflation “unacceptably high’’ before raising their benchmark interest rate by a sizable three-quarters of a point in their drive to slow spiking prices. In minutes from their July 26-27 meeting released Wednesday, the policymakers […]

Key inflation gauge tracked by the Fed remains a high 6.3%

Jun 30 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and […]

Key inflation gauge tracked by the Fed remains a high 6.3%

Jun 30 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April. Thursday's report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and […]

Did corporate greed fuel inflation? It’s not biggest culprit

Jun 26 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of Representatives last month passed on a party-line vote — most Democrats […]

Worry about stagflation, a flashback to ’70s, begins to grow

May 26 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons. Stagflation is the bitterest of economic pills: High inflation mixes with a weak job market […]

US added 428,000 jobs in April despite surging inflation

May 6 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor Department showed that last month’s hiring kept the unemployment rate at 3.6%, just above the […]

Citing Russia’s war, IMF cuts global growth forecast to 3.6%

Apr 19 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — The International Monetary Fund on Tuesday downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants. The 190-country lender cut its forecast for global […]

IMF chief: Ukraine war and inflation threaten global economy

Apr 14 2022 — Paul Wiseman, The Associated Press — WASHINGTON (AP) — The head of the International Monetary Fund warned Thursday that Russia's war against Ukraine was weakening the economic prospects for most of the world’s countries and called high inflation “a clear and present danger’’ to the global economy. IMF Managing Director Kristalina Georgieva said the consequences of Russia's invasion was contributing to […]