A fresh jobs report showed that the unemployment rate is still dropping. That likely keeps the Fed on track to raise interest rates as inflation rises.
Corrected disclosures show that Vice Chair Richard H. Clarida sold a stock fund, then swiftly repurchased it before a big Fed announcement.
Minutes from the Federal Reserve’s December meeting show that officials are contemplating when and how quickly to lift interest rates.
Politicians are placing more blame on greedy companies as prices stay high. But booming consumer demand is enabling firms to charge more.
The Personal Consumption Expenditures index is expected to confirm what other inflation measures have shown: Prices are coming in hot.
Mary Daly, president of the Federal Reserve Bank of San Francisco, wanted to withdraw economic help slowly. Now, she might support a rate increase as soon as March.
Federal Reserve officials suggested as many as three interest rate increases in 2022 as the economy heals and inflation persists.
Price gains have moved up sharply for months, but the fact that the trend is lasting and broadening has newly put policymakers on red alert.
The central bank has spent years guarding against economic blows. Now it is in inflation-fighting mode, even as a potential risk emerges.
After moderating slightly in recent months, inflation is forecast to pick up again. That is bad news for President Biden and the central bank.