Economic Indicators

Soaring consumer prices, supply chain shocks, rising energy costs and a hawkish Federal Reserve determined to bring inflation under control: These are the worrisome attributes of the U.S. economy that have some experts sounding the alarm over a possible return to 1970s-style "stagflation."

The overall business outlook for the next six months tumbled to the lowest level since December 2008, at the height of the financial crisis.

Americans are more conscious about prices as inflation continues to rise, according to a Morning Consult report.

Rising inflation is eating away at strong wage gains that American workers have seen in recent months. Real average hourly earnings decreased 0.1% in April from the previous month as the inflation increase eroded the 0.3% total wage gain, according to the Labor Department.

U.S. consumer confidence tumbled more than expected to a fresh 11-year low in early May, reflecting heightened concerns among Americans about the hottest inflation in a generation.

The Senate overwhelmingly confirmed Jerome Powell to a second term as chairman of the Federal Reserve on Thursday, a move that comes at a precarious time for the U.S. central bank as policymakers attempt to tame the hottest inflation in a generation without tipping the economy into a recession.

Wholesale prices on an annual basis cooled for the first time in months in April, even as inflation continued to hover near a 40-year high as a result of strong consumer demand, pandemic-related supply chain snarls and the Russian war in Ukraine.

The April inflation report was expected to be a harbinger of good news for the U.S. economy, evidence that sky-high consumer prices had finally started to fall.

American households are confronting the steepest inflation in a generation, paying more for everything from cars to food to rent as soaring prices eat away at most workers' wage gains.

Inflation increased in April by 8.3%, close to its 40-year high. This was the first slowdown in months, but was higher than experts had anticipated.

April inflation numbers show prices much higher than a year ago.

President Biden said Tuesday that tackling inflation is his "top domestic priority" but there's little any president can do unilaterally to bring down the high consumer costs that have dogged the president's approval numbers.

Inflation cooled for the first time in months in April, even as supply chain constraints, the war in Ukraine and strong consumer demand continued to keep consumers prices running near a 40-year-high.

President Biden on Tuesday called combating the hottest inflation in 40 years his top domestic priority as he sought to reassure Americans over sky-high consumer prices, which have become a majority political liability for Democrats.

Cleveland Federal Reserve President Loretta Mester said Tuesday she supports consecutive, half-point interest rate hikes at the central bank's next two meetings – and would back an even bigger increase down the road if sky-high inflation doesn't cool off by the second half of the year.

Job growth was higher than expected in April, keeping the Fed on its current track to raise rates.

Costco is no longer offering a mortgage program for its members.

U.S. job growth continued at a brisk clip in April, buoyed by hiring at restaurants and bars despite concerns about a looming slowdown and record-high inflation.

World food prices fell in April after a large jump in March, according to the United Nations' Food and Agriculture Organization (FAO).

The U.S. economy saw solid job growth in April, suggesting the labor market is still strong despite headwinds from rising interest rates, soaring inflation and a worsening labor shortage.