Fed Chairman Jerome Powell

Grocery prices fell in April as overall inflation cooled. Milk prices dropped 0.8% while egg prices declined 7.3%.

Egg and milk prices fall, fueling hope for interest rate cuts

7:31pm May 15, 2024

by Scott Horsley

Inflation eased last month, according to a report Wednesday from the Labor Department, which means people feeling stretched by high prices and high borrowing costs could feel a little relief soon.

Federal Reserve chairman Jerome Powell and his colleagues voted to hold interest rates steady at a 23-year high on Wednesday. The central bank is trying to curb stubborn inflation.

Fed keeps interest rates at 23-year high

5:50pm May 01, 2024

by Scott Horsley

The Federal Reserve held interest rates steady Wednesday, as inflation remained stubbornly above the Fed's 2% target. Investors now think it could be September or later before rates start to fall.

A customer shops at a grocery store in Chicago on Feb. 13, 2024. Annual inflation has eased significantly since two years ago but it has remained stubbornly above 3% this year.

Why beating inflation is turning out to be as hard as losing weight

10:07am April 10, 2024

by Rafael Nam

Annual inflation proved to be hotter than expected last month, staying stubbornly above 3%. It continues to move in the wrong direction in recent months. Pushing it lower is proving to be hard.

Federal Reserve Bank Chair Jerome Powell speaks during a news conference on March 20, 2024 in Washington, DC. Following a meeting of the Federal Open Markets Committee, Powell announced that the Fed left interest rates unchanged, but projects it may cut rates three times later this year.

Federal Reserve holds interest rates steady, projects three rate cuts later this year

5:58pm March 20, 2024

by Scott Horsley

The Federal Reserve held interest rates steady Wednesday, but policymakers signaled they still expect to start cutting rates later this year. The stock market jumped in response.

Federal Reserve Chair Jerome Powell speaks during a news conference after the central bank's policy meeting at the Federal Reserve in Washington, D.C., on Nov. 1, 2023. The Fed kept interest rates unchanged on Wednesday, but projected they would be able to lower them next year.

Economy

The Fed is probably done raising interest rates and could cut them next year

6:50pm December 13, 2023

by Scott Horsley

The Federal Reserve held interest rates steady on Wednesday, amid signs of easing inflation. The central bank signaled that its benchmark borrowing rate may start to fall next year.

Fed Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, D.C., on July 26, 2023.

Economy

The Federal Reserve holds interest rates steady but hints at more action this year

5:37pm September 20, 2023

by Scott Horsley

The Federal Reserve left interest rates unchanged Wednesday, despite stubborn inflation, although it left the door open to an additional rate hike in November or December.

Federal Reserve Chair Jerome Powell arrives for a meeting of financial regulators in Washington, D.C., on July 28, 2023. Powell warned on Friday the fight against inflation still "has a long way to go."

Economy

Fed Chair Jerome Powell warns the fight against inflation is far from over

4:58pm August 25, 2023

by Scott Horsley

Federal Reserve Chair Jerome Powell said interest rates could stay elevated for an extended period to bring inflation to the central bank's 2% target.

Federal Reserve Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington, DC, on Feb. 1, 2023. The Fed on Wednesday raised interest rates again, opting to continue its fight against inflation despite turmoil in the banking sector.

The Fed raises interest rates again despite the stress hitting the banking system

7:14pm March 22, 2023

by Scott Horsley

The Federal Reserve raised its benchmark interest rate by a quarter percentage-point in an effort to curb high inflation. Some had called for the Fed to wait after two recent bank failures.

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Federal Reserve Chair Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C., on Tuesday. Powell warned the fight against inflation still has "a long way to go," sending stock markets lower.

Federal Reserve Chair Jerome Powell warns inflation fight will be long and bumpy

4:06pm March 07, 2023

by Scott Horsley

Speaking before the Senate Banking Committee, Powell warned the central bank may have to raise interest rates even more, sending stock markets sharply lower.

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Federal Reserve Chair Jerome Powell speaks during a news conference after the Fed's meeting on Nov. 2, 2022, in Washington, D.C. The Fed raised interest rates by a quarter percentage point on Wednesday, its smallest increase in 11 months.

Economy

The Fed raises interest rates by only a quarter-point after inflation drops

8:00pm February 01, 2023

by Scott Horsley

The Federal Reserve raised interest rates by a quarter-percentage point as part of its ongoing effort to fight inflation. Price hikes have begun to ease, but the Fed says inflation is not yet tamed.

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