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☆ Key takeaways from the Fed’s latest interest rate decision
  + stars: | 2024-06-12 | by ( Bryan Mena | ) edition.cnn.com   time to read: +6 min
Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March. They also expect inflation to be more stubborn this year than they thought in the spring, according to their forecasts. The Fed has kept interest rates at a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022. Here are key takeaways from the Fed’s latest decision on interest rates. Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century are squeezing Americans.
Persons: Jerome Powell, Powell, ’, it’s, ”, “ We’ve, ” Powell, trickling, Wall, Matt Colyar, “ Organizations: Washington CNN, Federal Reserve, Labor Department, That’s, CPI, Fed, Moody’s Locations: April’s
☆ Takeaways from the February jobs report
  + stars: | 2023-03-11 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
Minneapolis CNN —February’s jobs report had a little something for everyone. In February, the construction industry added 24,000 jobs, marking 12 consecutive months of employment growth. Friday’s report showed that “a modicum of slack crept back into the jobs market,” wrote Wells Fargo economists Sarah House and Michael Pugliese. However, Friday’s jobs report likely won’t spur a more dovish turn from the Fed, said Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting. “We didn’t go from a four-alarm fire to a five-alarm fire with this data report, but the inflation flames aren’t out either,” he wrote in a note Friday.
☆ Americans are spending an extra $371 a month because of inflation
  + stars: | 2023-01-14 | by ( Matt Egan | ) edition.cnn.com   time to read: +1 min
New York CNN —From rent and groceries to utilities, families are paying a lot more every month as they try to keep up with inflation. And while inflation has cooled in recent months, the typical household spent $371 more on good and services in December than a year ago, according to Moody’s Analytics. At the inflation peak last June, the typical family spent an additional $502 per month compared with the year before, according to Moody’s. Families are spending an estimated $82.60 more per month on shelter and $72.01 more on food, Moody’s said. Some of the pain from inflation is being mitigated by a significant shift in recent months: Wages are finally growing at a faster pace than inflation.
☆ Dow and S&P 500 updates: Stock market news
  + stars: | 2022-12-16 | by ( David Goldman | ) edition.cnn.com   time to read: +2 min
New York CNN —The good vibes on Wall Street are fading fast: US stocks tumbled yet again Friday as investors come to grips with a souring economy. S&P 500 futures fell 1.4%, and Nasdaq Composite futures were 1.1% lower. CNN Business’ Fear and Greed Index, a measure of market sentiment, dipped perilously close to “Fear” Friday. Stocks had been riding high this month on weaker-than-expected inflation and a number of stronger-than-expected reports on the broad economy and the job market. The S&P 500 lost 2.5% and the Nasdaq tumbled 3.2%, their worst days in a month.
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