As recently as January, investors had high hopes that the Federal Reserve was about to embark on a rate-cutting campaign that would reverse some of the most aggressive policy tightening in decades. Three months of inflation data have brought those expectations back down to earth. March's consumer price index report...
A crucial report Wednesday is expected to show little progress against inflation
Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images A closely watched Labor Department report due Wednesday is expected to show that not much progress is being made in the battle to bring down inflation. If so,...
Economist El-Erian says the Fed has turned into a play-by-play commentator
The U.S. Federal Reserve has become too data dependent and has lost sight of its overall strategy, Mohamed El-Erian, chief economic adviser at Allianz, said Friday. The economist told CNBC that a longer-term, more strategic outlook could see policymakers settle on a new inflation target of closer to 3%. "Rather...
Private payrolls increased by 184,000 in March, better than expected, ADP says
Private sector job growth expanded in March at its fastest pace since July 2023, indicating continuing buoyance in the U.S. labor market, payrolls processing firm ADP reported Wednesday. Companies added 184,000 workers on the month, an increase from the upwardly revised February gain of 155,000, which also was the Dow...