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Economy

Key Fed measure eased, spending declined

Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday.Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the...

U.S. GDP rose 2.9% in the fourth quarter, more than expected even as recession fears loom

A worker assembles components on a diesel engine at the Cummins Seymour Engine Plant in Seymour, Indiana, on Monday, April 18, 2022.Luke Sharrett | Bloomberg | Getty ImagesThe U.S. economy finished 2022 in solid shape even as questions persist over whether growth will...

What you need to know

A Cuban pilgrim participates in the San Lazaro procession at El Rincon church in Havana, on December 16, 2022.Yamil Lage | AFP | Getty ImagesAccusations of bribery, an imprisoned Cuban bank official and Interpol all feature in a high-stakes case against the Cuban...

UK inflation falls from 41-year high as fuel price surge eases

LONDON — U.K. inflation came in slightly below expectations at 10.7% in November, as cooling fuel prices helped ease price pressures, though high food and energy prices continued to squeeze households and businesses.Economists polled by Reuters had projected an annual increase in the...

Here’s everything the Federal Reserve is expected to do Wednesday

Call it a sign of the times where a half percentage point interest rate increase from the Federal Reserve is considered looser monetary policy.Prior to this year, the Fed hadn't boosted benchmark borrowing rates by more than a quarter-point at a time in...

Sales fall 0.6% as consumers feel pressure from inflation

Consumers pulled back on spending in November, failing to keep up with even a muted level of inflation for the month, the Commerce Department reported Thursday.Retail sales for the month declined 0.6%, even worse than the Dow Jones estimate for a 0.3% drop....