federal reserve
Jerome Powell uses JFK award speech to warn against political pressure on Fed, courts and schools
BOSTON | Former Federal Reserve Chair Jerome Powell used one of his first major public appearances since leaving office to defend independent institutions while accepting an award Sunday honoring his efforts to preserve the central bank’s independence. Speaking at the John F. Kennedy Presidential Library overlooking Boston Harbor, Powell called universities, courts, Congress and the […]
Key inflation gauge worsens as Americans’ income and spending power erodes
WASHINGTON | A key inflation gauge accelerated in April to the highest level in three years, squeezing Americans’ finances and creating political challenges for President Trump and congressional Republicans with midterm elections just five months away. Inflation jumped to 3.8% in April compared with a year ago, the Commerce Department said Thursday, up from 3.5% […]
Powell’s tenure as Fed chair marked by fight for independence while trying to tame inflation
WASHINGTON | When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs. Now, as Powell steps down from the post after eight tumultuous years, the U.S. economy is transformed: Inflation soared after the […]
The Iran war is hitting home as gasoline prices fuel inflation surge of 3.8% in the US
WASHINGTON | U.S. consumer prices climbed sharply again last month as the 10-week war with Iran delivered higher gasoline prices and more pain for Americans. The Labor Department’s consumer price index rose 3.8% from April 2025, the biggest jump in three years, and up from a 3.3% year-over-year gain in March. On a month-to-month basis, […]
US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April
WASHINGTON | America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war. Hiring beat the 65,000 jobs forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday. The Iran war has […]
US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April
WASHINGTON | America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war. Hiring beat the 65,000 jobs forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday. The Iran war has […]
US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April
WASHINGTON | America’s employers delivered a surprising 115,000 new jobs last month despite an economic shock from the Iran war. Hiring beat the 65,000 jobs forecasters had expected, though it decelerated from the 185,000 jobs created in March. The unemployment rate remained at a low 4.3%, the Labor Department reported Friday. The Iran war has […]