Federal Reserve

Painfully high inflation persisted in June as the consumer price index soared to another 40-year high, adding to a growing list of political problems for the Biden administration.

Inflation is expected to have surged again in June, with the Labor Department's consumer price index likely climbing by 8.8%, notching another four decade high.

The White House is already downplaying the June inflation report ahead of its release on Wednesday morning as economists brace for another record-breaking increase.

Former Federal Reserve Bank of Philadelphia President Charles Plosser urges the Fed to stay committed to bringing inflation down after not acting sooner.

While the Fed continues to raise interest rates, experts are unsure about what it will mean for the economy. One expert said these moves are not likely to cause a recession.

Bank of America strategists said that sky-high inflation could take some time to come down – forcing the Fed to raise rates so aggressively the economy slides into a recession.

Americans expectations for where inflation will be one year from now surged in June, according to a Federal Reserve survey that likely has implications for interest rate hikes.

The latest Federal Reserve minutes show another 75 basis point rate hike could be on the way in July as the Fed combats decades-high inflation.

The jobs report in June was strong, despite risks of a recession on the horizon. Here's what that means for interest rates.

Hiring held steady in June in a sign employers are taking a more cautious approach as sky-high inflation roils sentiment.

U.S. equity futures were trading higher Thursday morning, adding to the gains from the prior session and ahead of the latest jobless claim numbers.

U.S. equity futures were trading lower on Wednesday ahead of the release of the minutes from the Federal Reserve's latest meeting in which interest rates were raised.

Here are the key events taking place on Wednesday that could impact trading including the release of the minutes from the Fed's most recent meeting and reports on jobs openings and the service sector.

Global corporate net debt has been falling in the past year as higher borrowing costs reduce the appetite for new financing.

The U.S. economy may already be in a recession according to the Atlanta Federal Reserve's GDP tracker, which shows negative growth for the second quarter.

Former Federal Reserve Vice Chair Randal Quarles argues while the Fed will get on top of inflation, the increased cost of debt service will cause financial disruption.

The Federal Reserve's real-time GDP tracker shows that the U.S. economy has contracted for the second quarter in a row, signaling a recession is already here.

While inflation cooled slightly in May, so did consumer spending, a sign Americans are belt-tightening as prices for gas, food, and staples remain elevated.

If a recession comes, Americans across the country will experience the pain – despite what Biden may believe.

Stock futures are trading lower ahead of June's final trading day after the U.S. economy contracted more than expected amid high inflation and weakening consumer confidence.