CHRISTOPHER RUGABER

AP Economics Writer
Federal Reserve chair Jerome Powell speaks at the DealBook Summit in New York, Wednesday, Dec. 4, 2024. (AP Photo/Seth Wenig)
Powell: Fed’s independence from politics is vital to its interest rate decisions
Chair Jerome Powell said the Federal Reserve’s ability to set interest rates free of political interference is necessary for it to make decisions to serve “all Americans” rather than a political party or political outcome.
 
FILE - A construction worker walks on scaffolding at a building site on Sept. 4, 2024, in Waukee, Iowa. (AP Photo/Charlie Neibergall, File)
US job openings rose last month, though hiring slowed, in mixed picture for labor market
The number of job postings in the United States rebounded in October from a 3 1/2 year low in September, a sign that businesses are still seeking workers even though hiring has cooled. Openings rose 5% to 7.7 million from 7.4 million in September.
 
FILE - Federal Reserve Board of Governors member Christopher Waller poses on May 23, 2022, in Washington. (AP Photo/Patrick Semansky, File)
A top Fed official leans toward December rate cut but says it depends on economic data
A top Federal Reserve official says he is leaning toward supporting an interest rate cut when the Fed meets in two weeks but that evidence of persistent inflation before then could cause him to change that view.
 
FILE - Shoppers reach for items on display in a Costco warehouse Nov. 19, 2024, in Lone Tree, Colo. (AP Photo/David Zalubowski, File)
US consumer price increases accelerated last month with inflation pressures resilient
Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled.
 
FILE - Federal Reserve Chair Jerome Powell listens to a question from a moderator during a Dallas Regional Chamber event in Music Hall at Fair Park Nov. 14, 2024, in Dallas. (AP Photo/LM Otero, File)
Federal Reserve officials signal cautious path for rate cuts amid still-high inflation
With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves.
 
FILE - People buy groceries at a Walmart Superstore in Secaucus, New Jersey, July 11, 2024. (AP Photo/Eduardo Munoz Alvarez, File)
Trump’s threat to impose tariffs could raise prices for consumers, colliding with promise for relief
If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation.
 
FILE - People walk past small businesses in Doylestown, Pa., Nov. 4, 2021. (AP Photo/Matt Rourke, File)
US consumer confidence ticks higher on better outlook for hiring
Americans’ outlook on the economy improved modestly in November, lifted by expectations for lower inflation and more hiring.
 
FILE - Federal Reserve Chair Jerome Powell listens to a question from a moderator during a Dallas Regional Chamber event in Music Hall at Fair Park Nov. 14, 2024, in Dallas. (AP Photo/LM Otero, File)
Federal Reserve’s likely slowdown in rate cuts could disappoint borrowers
Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates.
 
FILE - Shoppers peruse merchandise at a Kohl's department store in Ramsey, N.J., Oct. 10, 2024. (AP Photo/Seth Wenig, File)
Retail sales up solidly in October as Americans showed continued willingness to spend
Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth.
 
Federal Reserve Chair Jerome Powell speaks to the Dallas Regional Chamber during an event in Music Hall at Fair Park Thursday, Nov. 14, 2024, in Dallas. (AP Photo/LM Otero)
Powell says Fed will likely cut rates cautiously given persistent inflation pressures
Chair Jerome Powell says the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.
 
FILE - Adriana Kugler of Maryland, speaks during the Senate Banking, Housing, and Urban Affairs Committee hearing to examine her nomination to be a member of the Board of Governors of the Federal Reserve System, June 21, 2023, on Capitol Hill in Washington. (AP Photo/Mariam Zuhaib, File)
Top Federal Reserve official defends central bank’s independence in wake of Trump win
A Federal Reserve official has given a lengthy defense of the central bank’s political independence. It comes just days after former President Donald Trump, previously an outspoken Fed critic, won re-election.
 
FILE - Prices are displayed at a grocery store in Chicago on Sept. 19, 2024. (AP Photo/Nam Y. Huh, File)
US inflation rose slightly last month after 2 years of steady cooling but remained low
Inflation in the United States ticked up in October, driven by costlier rents, used cars, and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021.
 
Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Thursday, Nov. 7, 2024. (AP Photo/Mark Schiefelbein)
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertainty
The Federal Reserve cut its key rate by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
 
FILE - Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, on Sept. 18, 2024. (AP Photo/Ben Curtis, File)
Federal Reserve is set to cut rates again while facing a hazy post-election outlook
No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
 
A shopper checks out at a cash register in a grocery store in Glenview, Ill., Sunday, Oct. 27, 2024. (AP Photo/Nam Y. Huh)
Inflation gauge closely watched by the Fed falls to lowest level since early 2021
As a presidential race profoundly shaped by Americans’ frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.
 
FILE - Carl Roath, left, a worker with the Mason County (Wash.) Public Utility District, pulls fiber optic cable on a project to install broadband internet service in the area surrounding Lake Christine near Belfair, Wash., on Aug. 4, 2021. (AP Photo/Ted S. Warren, File)
Jobs report on eve of election will be among the most muddled in years
Four days before Election Day, the government will issue its final snapshot of hiring and unemployment in the United States after a presidential race in which voter perceptions of the economy have played a central role.
 
FILE - A shopper carries bags in Pittsburgh on June 3, 2024. (AP Photo/Gene J. Puskar, File)
Wealthier Americans are driving retail spending and powering US economy
It’s a trend that has surprised many: Why, despite being squeezed by high prices, have Americans kept spending at retail stores and restaurants at a robust pace?
 
Shoppers peruse merchandise at a Kohl's in Ramsey, N.J., Thursday, Oct. 10, 2024. (AP Photo/Seth Wenig)
US shoppers spent more at retailers last month in latest sign consumers are driving growth
Americans stepped up their purchases at retailers last month as low unemployment, steady pay gains and rising stock and home values helped sustain their willingness to spend despite higher prices.
 
FILE - Republican presidential nominee former President Donald Trump speaks along the southern border with Mexico, on Aug. 22, 2024, in Sierra Vista, Ariz. (AP Photo/Evan Vucci, File)
Trump’s economic plans would worsen inflation, experts say
Donald Trump has vowed that if voters return him to the White House, “inflation will vanish completely.” Yet most mainstream economists say Trump’s policy proposals wouldn’t vanquish inflation. They’d make it worse.
 
FILE - Motorists fill up the tanks of their vehicles at a Costco warehouse gasoline station Sept. 12, 2024, in Thornton, Colo. (AP Photo/David Zalubowski, File)
US consumer sentiment slips in October on frustration over high prices
Americans’ outlook on the economy soured a bit after two months of small gains, according to the University of Michigan’s consumer sentiment index, released Friday.
 
FILE - People buy groceries at a Walmart Superstore in Secaucus, New Jersey, July 11, 2024. (AP Photo/Eduardo Munoz Alvarez, File)
US inflation reaches lowest point in 3 years, though some price pressures remain
Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race.
 
FILE - Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington, Sept. 18, 2024. (AP Photo/Ben Curtis, File)
Fed Chair Powell says the US economy is in ‘solid shape’ with gradual rate cuts coming
Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy.
 
A shopper examines large-screen televisions on display in a Costco warehouse Thursday, Sept. 19, 2024, in Lone Tree, Colo. (AP Photo/David Zalubowski)
Fed’s favored inflation gauge shows cooling price pressures, clearing way for more rate cuts
The Federal Reserve’s preferred inflation measure provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts.
 
FILE - The Federal Reserve building, center, rises high over the skyline of Richmond, Va., on Dec. 4, 2017. (AP Photo/Steve Helber, File)
Richmond Fed president urges caution on interest rate cuts because inflation isn’t defeated
A Federal Reserve official says he supports reducing the central bank’s key interest rate somewhat from its current level.
 
A customer passes an array of beverages while shopping at a grocery store in Chicago, Thursday, Sept. 19, 2024. (AP Photo/Nam Y. Huh)
The Fed sees its inflation fight as a success. Will the public eventually agree?
With its larger-than-usual half-point cut to its key interest rate last week, the Federal Reserve underscored its belief that it’s all but conquered inflation after three long years. The public at large? Not so much.
 
FILE - A detail of the Federal Reserve building in Washington is shown on Nov. 16, 2020. (AP Photo/J. Scott Applewhite, File)
Federal Reserve signals end to inflation fight with a sizable half-point rate cut
The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for consumers.
 
Shoppers consider purchases in a Costco warehouse Thursday, Sept. 12, 2024, in Thornton, Colo. (AP Photo/David Zalubowski)
US retail sales ticked up last month in sign of ongoing consumer resilience
Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate.
 
FILE - Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, May 1, 2024. (AP Photo/Susan Walsh, File)
Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?
American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it’s cutting its key interest rate from a two-decade peak.
 
FILE - Shoppers pass a sign trumpeting sales at an outlet mall Wednesday, Sept. 11, 2024, in Lakewood, Colo. (AP Photo/David Zalubowski, File)
US consumer sentiment ticks higher for second month but remains subdued
 
FILE- This June 6, 2019, file photo shows the U.S. Treasury Department building at dusk in Washington. (AP Photo/Patrick Semansky, File)
Treasury proposes rule to prevent large corporations from evading income taxes
The Biden administration has proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes.
 
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