Topic: Jerome Powell

U.S. inflation bucked market expectations by falling to 3.2% in the 12 months to October, reversing a rise of 0.4% in September, Consumer Price Index data from the Bureau of Labor Statistics out Tuesday show.

Labor non-business productivity was up 4.7% in the third quarter of 2023, the biggest gain since 2020 according to the Labor Department. That productivity increase drove labor unit costs down by 0.8%.

The Federal Reserve decided Wednesday to leave interest rates unchanged as U.S. inflation decelerates but remains higher than the Fed's 2% target.

The Federal Reserve Board kicked off its latest policy meeting in Washington Tuesday as Wall Street awaited the latest decision on interest rates amid weakening inflation and a strengthening economy.

Federal Reserve Chairman Jerome Powell will deliver remarks in New York Thursday as part of a closely watched forum that may provide clues about the Central Bank's next move on interest rates amid high inflation.

Fewer people quit their jobs and the number of new job listings declined for the third straight month in July, suggesting a degree of economic cooling, government data published Tuesday show.

Low inventory in part helped drive the average price of a single-family home up 3% compared to last year, the Federal Housing Finance Agency said Tuesday.

U.S. consumer sentiment in August was relatively unchanged, though optimism remains resilient despite lingering inflationary pressures, the University of Michigan reported Friday.

Inflation in the U.S. economy remains too high and lending rates may need to move higher, U.S. Federal Reserve Chair Jerome Powell said in a highly anticipated speech on Friday.

First-time claims of unemployment dropped by 10,000 last week, but the Labor Department on Thursday reported a slight increase in the number of people filing over continued weeks.