inflation
The buck stops somewhere else: A look at Trump’s tendency to avoid blame when things go awry
WASHINGTON | It is among the most famous phrases in presidential history: ” The buck stops here.” Except with President Donald Trump, it almost never does. Concerns about a weak economy and still-high inflation? His predecessor, Joe Biden, saddled him with that, he says, even though the Democrat has been out of office for 18-plus […]
The buck stops somewhere else: A look at Trump’s tendency to avoid blame when things go awry
WASHINGTON | It is among the most famous phrases in presidential history: ” The buck stops here.” Except with President Donald Trump, it almost never does. Concerns about a weak economy and still-high inflation? His predecessor, Joe Biden, saddled him with that, he says, even though the Democrat has been out of office for 18-plus […]
Warsh says Fed has ‘no tolerance’ for high inflation but provides no hints on next move
WASHINGTON | Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps. Fed policymakers “have no tolerance for persistently elevated inflation,” Warsh said in his first appearance before Congress since becoming chair May 22, replacing […]
Federal Reserve policymakers show support for rate hikes as Warsh reins in guidance
WASHINGTON | The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank’s policymakers said they could support a rate hike later this year. The unexpectedly aggressive tilt toward higher rates would disappoint President Trump and suggests heightened concerns about persistent inflation among Fed officials. In an unusually short statement after […]
Inflation likely reached 3-year high last month as Iran war spikes gas prices
WASHINGTON | Consumer prices probably jumped in May for the third straight month, heightening concerns for the inflation fighters at the Federal Reserve and underscoring the threat that rising costs pose for the Trump administration as midterm elections near. Inflation is expected to reach 4.2% in May from a year earlier when the Labor Department […]
Retail sales growth slowed in April from March as higher gas cost leaves less room for nonessentials
NEW YORK | Shoppers pulled back on spending in April as higher gas prices fueled by the Iran war meant less money left over for some nonessentials like clothing and furniture. But economists noted that consumer spending, propped up by generous income tax refunds, is still healthy. Still, they worry that spending will fall off […]