Jerome Powell
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 […]
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 […]
Producer prices shot up 6%, adding to pressure on companies to raise prices for customers
WASHINGTON | U.S. wholesale inflation came in hot last month. Producer prices rose 6% from a year earlier, most since December 2022, as the 10-week Iran war pushed up energy prices and put pressure on companies to pass along higher costs to consumers. The Labor Department reported Wednesday that its producer price index — which […]
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, […]