The U.S. Bureau of Labor Statistics on Tuesday released it’s monthly Consumer Price Index report, which showed inflation rose 2.3% in April from a year ago. It comes as the impact of President Donald Trump’s tariffs, some of which have been paused, could loom ahead. But economists say the report suggests tariffs haven’t yet impacted prices for many items, and likely won’t be seen until June or July. The Labor Department also noted that the slightly uptick in consumer prices was down from 2.4% in March, representing the smallest increase in more than four years.
The Federal Reserve announced a long-awaited interest rate cut, lowering the benchmark rate by 50 basis points from what was the highest level in 23 years as the central bank eased borrowing costs following progress in the fight against inflation. LiveNOW’s Andrew Craft spoke about the rate cut with economic experts, Paul Mueller and Dan Varroney.
The Federal Reserve on Wednesday held interest rates steady for the seventh straight time and scaled back the outlook for rate reductions later this year as high inflation lingers. Posted June 12, 2024 8:30pm EDT
US job growth slowed considerably last month, with just 175,000 positions added in April, according to Bureau of Labor Statistics data released Friday.
