An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. The personal consumption expenditures price index increased 0.1% on the month and was up 2.5% from a year ago,...
U.S. economy grew at a 2.8% pace in the second quarter, much more than expected
Economic activity in the U.S. was considerably stronger than expected during the second quarter, boosted by a strong consumer, government spending and a sizeable inventory build, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced...
Wholesale prices rose 0.2% in June, slightly hotter than expected
A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index climbed 0.2% last month, the Labor Department's Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones were expecting...
With high prices and mortgage rates, aspiring and current homeowners feel ‘stuck’
A home available for sale is shown on May 22, 2024 in Austin, Texas. Brandon Bell | Getty Images When Rachel Burress moved into her mother's house around a decade ago, it seemed like a short-term stop on the path to homeownership. The 35-year-old hairdresser spent those years improving...