interest rates

A person carries shopping bags at a shopping center on the day after Christmas on Dec. 26, 2023 in Glendale, Calif. Strong consumer spending helped drive better-than-expected economic growth in the final months of 2023.

Many experts feared a recession. Instead, the economy has continued to soar

4:21pm January 25, 2024

by Scott Horsley

The U.S. economy grew substantially faster in the final months of 2023 than forecasters had expected. For all of last year, the economy grew 3.1% — defying forecasts of a likely recession.

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.

A man pumps gas in Alhambra, Calif., on Oct. 2, 2023.

Economy

Inflation continues to moderate thanks to a big drop in gas prices

8:53am December 12, 2023

by Scott Horsley

Consumer prices rose 3.1% in November from a year ago, marking a more moderate pace of inflation thanks in large part to falling gasoline prices.

The Fed kept interest rates steady on Wednesday for a second consecutive meeting but will continue to monitor the economy. Fed Chair Jerome Powell (pictured) left the door open for another rate hike if required.

Economy

The Fed held interest rates steady — but the fight against inflation is not over yet

6:15pm November 01, 2023

by Scott Horsley

The Federal Reserve left interest rates unchanged Wednesday, but left the door open to additional rate hikes in the future, if necessary, to curb inflation.

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A shopper carries a shopping bag while walking through an outdoor shopping center in Corte Madera, Calif., on Oct. 17. Strong consumer spending is helping to power the economy — but it may not last.

5 things to know about a stunning week for the economy

6:01am October 28, 2023

by Scott Horsley

The U.S. economy continues to defy gravity, growing rapidly despite high interest rates. Consumer spending is powering the expansion, but it's not clear how long that can last.

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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.

Annual inflation accelerated slightly in July, although the uptick was modest and within expectations.

Economy

Inflation got a little higher in July as prices for rent and gas spiked

8:55am August 10, 2023

by Scott Horsley

Consumer prices rose 3.2% in July from a year ago, up slightly from the 3% annual rise see in June — but still within analyst expectations

Travelers wait in line at Hartsfield-Jackson Atlanta International Airport in Atlanta on June 30, 2023, ahead of the 4th of July holiday weekend. Consumers are traveling and eating out more though they are paring down spending in other ways.

Economy

Here are the 5 things to know about the state of the economy this Independence Day

6:00am July 04, 2023

by Scott Horsley

As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.

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Economy

April home sales dip in Greensboro

3:28pm May 31, 2023

by David Ford

Home sales have dipped across the country, region and Triad due to a variety of factors including interest rates, construction costs, and changing demographics.

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