Author: Christopher Rugaber
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Inflation held steady last month, but that was before the attack on Iran sent energy costs soaring
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KANSAS CITY (AP) — Inflation remained stubbornly elevated last month as gas prices rose, but it’s a snapshot of consumer prices before a U.S.-Israeli attack on Iran sent energy costs soaring. Consumer prices rose 2.4% in February compared with a year earlier, the Labor Department said Wednesday, matching January’s increase. Excluding the volatile food and…
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Consumer confidence slides as Americans grow wary of high costs and sluggish job gains
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WASHINGTON (AP) — U.S. consumers were much less confident in the economy in November in the aftermath of the government shutdown and amid weak hiring and stubborn inflation. The Conference Board said Tuesday that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the second-lowest reading since…
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Lack of jobs data due to government shutdown muddies view of hiring and the US economy
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WASHINGTON (AP) — From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern as everyone awaits the Labor Department’s crucial monthly jobs report. But with the government shut down, no information was…
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Fed official sues Trump over attempt to fire her, challenging his power over the independent agency
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WASHINGTON (AP) — Federal Reserve Governor Lisa Cook has sued the Trump administration in an effort to overturn the president’s attempt to fire her, launching an unprecedented legal battle that could significantly reshape the Fed’s longstanding political independence. The lawsuit seeks an emergency injunction to block her firing and “confirm her status” as a member…
