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A shopper surveys stacks of clothing on a sales table in a Costco warehouse Thursday, June 22, 2023, in Colorado Springs, Colo. On Friday, the Commerce Department issues its May report on consumer spending. The report contains a measure of inflation that is closely watched by the Federal Reserve. (AP Photo/David Zalubowski)

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An inflation gauge tracked by the Federal Reserve falls to its lowest point in 2 years
By CHRISTOPHER RUGABER - AP Economics Writer
Fri,06/30/23-7:38AM , 147 Reads
WASHINGTON (AP) — An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs.

At the same time, consumers barely increased their spending last month, boosting it just 0.1%, after a solid 0.6% gain in April.
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Customers shop at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. The most-anticipated recession probably in modern U.S. history still hasn't arrived. Despite higher borrowing costs, thanks to the Federal Reserve's aggressive streak of interest rate hikes, consumers keep spending, and employers keep hiring. (AP Photo/Nam Y. Huh)

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A 'rolling recession' or a 'richcession' might spare the US economy from a full-scale downturn
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/27/23-9:25PM , 167 Reads
WASHINGTON (AP) — Despite more than a year of widespread warnings that a recession was near, America’s economy is, if anything, accelerating.
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Federal Reserve Chair Jerome Powell will appear before Congress in two days of hearings. AP correspondent Donna Warder reports.

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Fed's Powell: More rate hikes are likely this year to fight still-high inflation
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/20/23-5:28PM , 246 Reads
WASHINGTON (AP) — With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell told a House committee Wednesday.
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Federal Reserve Chair Jerome Powell speaks during a news conference following a Federal Open Market Committee meeting, Wednesday, June 14, 2023, at the Federal Reserve Board Building in Washington. (AP Photo/Jacquelyn Martin)

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Fed Chair Powell sees progress on inflation, though not quickly enough
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/13/23-6:24PM , 225 Reads
WASHINGTON (AP) — Inflation may be cooling — just not yet fast enough for the Federal Reserve.
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