The policymakers said the economy is growing at a solid pace, while hiring has ‘remained strong’ and there has been ‘modest’ further progress toward its 2% inflation target.
inflation
Posted inBusiness, Nation / World, News
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
In the U.S., a big reason why inflation remains above the Fed’s target is that distortions stemming from the pandemic are still keeping prices elevated.
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Posted inBusiness, Nation / World
Grocers are finally lowering prices as consumers pull back spending
An array of federal regulators, Democratic lawmakers and think tanks contend that large retailers have kept prices artificially high.
Posted inBusiness
Target reports sales decline as discretionary spending remains tepid
U.S. consumers remain resilient, though the broader environment remains complicated and challenging, executives said.
Posted inBusiness, Health, Maine
As demand to insure pets grows in Maine, employers are starting to offer coverage
Maine companies don’t contribute to expenses, but some offer group coverage plans. Many in the veterinary industry, where prices keep rising, say it’s worth the cost.
Posted inBusiness, Nation / World
Walmart’s strong first quarter driven by Americans seeking bargains as inflation remains an issue
Walmart reported another quarter of strong results Thursday as its low prices pull in shoppers scouring for discounts with inflation stubbornly high.
Posted inBusiness
Inflation improved slightly in April, with timing for rate cuts still uncertain
The Federal Reserve had been getting ready to lower interest rates this year. The past few months complicated those hopes.
Posted inBusiness, Nation / World, Politics
Inflation is overshadowing U.S. economic resilience, hurting Biden
Most economists say the underlying momentum of the U.S. economy remains strong. But growth and jobs – which have been surprisingly sturdy – have generated little tangible benefit to Biden’s hopes for reelection.
Posted inBusiness, Nation / World, News
Retail sales surge 0.7% in March as Americans seem unfazed by higher prices
The snapshot offers only a partial look at consumer spending and doesn’t include many services, including travel and hotel lodges. But the lone services category – restaurants – registered an uptick of 0.4%.
Posted inBusiness, Nation / World
Powell says Fed wants to see ‘more good inflation readings’ before it can cut rates
The resulting higher borrowing costs helped bring inflation down – from a peak of 9.1% in June 2022 to 3.2% last month.