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People wear face masks as they shop at the Nordstrom Local DTLA downtown Los Angeles on Tuesday, March 15, 2022. Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. Home sales are down, and mortgage rates are up. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, even the more pessimistic economists don’t foresee any imminent downturn, at least not before next year. (AP Photo/Damian Dovarganes)

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EXPLAINER: Recession fears grow. But how high is the risk?
By CHRISTOPHER RUGABER - AP Economics Writer
Mon,05/09/22-12:07PM , 544 Reads
WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. And the economy actually shrank in the first three months of this year.

Is the United States at risk of enduring another recession, just two years after emerging from the last one?
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A hiring sign is displayed in Wheeling, Ill., Thursday, May 5, 2022. America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. (AP Photo/Nam Y. Huh)

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EXPLAINER: More pressure on the Fed from April jobs report
By CHRISTOPHER RUGABER - AP Economics Reporter
Fri,05/06/22-2:35PM , 377 Reads
WASHINGTON (AP) — Friday's jobs report for April provided mixed signals on the economic issue most on the minds of Americans: Chronically high inflation.
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This May 4, 2021, file photo shows the Federal Reserve building in Washington. The Federal Reserve is poised this week to begin unleashing its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans' financial strains and likely weaken the economy. The Fed is expected to announce Wednesday, May 3, 2022 that it will begin quickly shrinking its vast stockpile of Treasury and mortgage bonds beginning in June — a move that will have the effect of further tightening credit. (AP Photo/Patrick Semansky, File)

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How higher Fed rates stand to affect Americans' finances
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,05/04/22-1:37PM , 320 Reads
WASHINGTON (AP) — Record-low mortgages below 3% are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation.
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Federal Reserve Board Chair Jerome Powell pauses while speaking during a news conference at the Federal Reserve, Wednesday, May 4, 2022 in Washington. The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point. (AP Photo/Alex Brandon)

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Fed raises key rate by a half-point in bid to tame inflation
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,05/04/22-1:03PM , 322 Reads
WASHINGTON (AP) — The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
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