Washington, DC CNN — The Federal Reserve announced on Wednesday that it will pause its rate hikes, keeping its benchmark lending rate at a 22-year high. This move was widely anticipated, as the central bank has been signaling in recent weeks that it wants to wait for more data to understand the impact of previous …
Consumer price hikes in Minneapolis accelerated on an annual basis for the first time in over a year, according to data released by the Bureau of Labor Statistics. The Consumer Price Index rose by 3.2% for the year through July, compared to a 3% increase in June. Although the annual increase fell short of economists’ …
Retail sales in the US have fallen by 1% in March compared to the previous month, according to the Commerce Department. While the decline was steeper than expected, the figure is 2.9% higher year-on-year. Smaller tax returns and concerns about the labour market have been cited as reasons for the drop, which was particularly noticeable …