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US stocks drift lower after expectations rise for the Fed to hike rates to get handle on inflation

U.S. stocks are drifting lower while expectations rise for the Federal Reserve to hike interest rates soon to get the nation's high inflation under control.

US stocks drift lower after expectations rise for the Fed to hike rates to get handle on inflation

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Wholesale price inflation slows last month as gas, food costs fall

Wholesale price inflation slows last month as gas, food costs fall

Christopher Rugaber, Associated Press | Posted Aug. 13 - 11:03 a.m.

Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign consumer inflation could grind lower in the months ahead.

Consumer prices increase as expected in July

Consumer prices increase as expected in July

Lucia Mutikani, Reuters | Posted Aug. 12 - 7:15 a.m.

Consumer prices increased slightly in July, potentially weakening the argument for an interest rate increase from the Federal Reserve next month.

For McDonald's and rivals, cheap deals no longer do the trick

For McDonald's and rivals, cheap deals no longer do the trick

Savyata Mishra and Waylon Cunningham, Reuters | Posted Aug. 11 - 9:03 a.m.

Fast-food chains including McDonald's that spent the second quarter battling to pull in price-conscious diners discovered discounts alone were no longer enough to keep them coming back.

Employers unexpectedly cut 23,000 jobs as unemployment dips to 4.1%, report says

Employers unexpectedly cut 23,000 jobs as unemployment dips to 4.1%, report says

Paul Wiseman, Associated Press | Posted Aug. 7 - 8:31 a.m.

Employers unexpectedly cut 23,000 jobs last month, and unemployment dipped to 4.1% only because Americans left the job market, in a sharp reversal put out by the Labor Department Friday.

Warsh vows not to 'waver' on inflation as divided Fed leaves rates unchanged

Warsh vows not to 'waver' on inflation as divided Fed leaves rates unchanged

Ann Saphir and Michael S. Derby, Reuters | Posted July 29 - 2:54 p.m.

The Federal Reserve held interest rates steady on Wednesday, a choice that may intensify questions about how Kevin Warsh will deliver on his commitment to bring inflation down.

A rising number of Utahns are being sued over outstanding consumer debt. Here's why

A rising number of Utahns are being sued over outstanding consumer debt. Here's why

Art Raymond, Deseret News | Posted July 24 - 9:57 a.m.

A complex legal process is contributing to default judgments in a majority of Utahns' cases involving outstanding consumer debt. How can the system improve?

Utah's average gas prices soars again ahead of Pioneer Day weekend

Utah's average gas prices soars again ahead of Pioneer Day weekend

Carter Williams, KSL | Posted July 23 - 8:37 p.m.

Utah's reprieve at the gas pumps hit a snag as tensions between the U.S. and Iran flare up again.

Oil hits $100 after Houthi attack on Saudi tankers worsens oil supply disruption

Oil hits $100 after Houthi attack on Saudi tankers worsens oil supply disruption

Anushree Mukherjee, Reuters | Posted July 23 - 9:44 a.m.

Oil prices hit their highest in nearly two months on Thursday, rising for a fifth day after Yemen's Houthis said they struck two Saudi oil tankers, widening disruption to global oil shipping.

Retail sales up modest 0.2% in June amid economic uncertainty, fading benefits from tax refunds

Retail sales up modest 0.2% in June amid economic uncertainty, fading benefits from tax refunds

Anne D'innocenzio, Associated Press | Posted July 16 - 9:01 a.m.

Shoppers slowed their spending in June from May amid continuing economic uncertainty and fading benefits from generous government tax refunds.

Warsh says Fed has 'no tolerance' for high inflation but provides no hints on next move

Warsh says Fed has 'no tolerance' for high inflation but provides no hints on next move

Christopher Rugaber, Associated Press | Posted July 14 - 1:02 p.m.

Federal Reserve Chair Kevin Warsh pledged to make high inflation "a thing of the past" in his first congressional testimony Tuesday, yet provided no signal about his next steps.

Consumer inflation slows more than expected in June

Consumer inflation slows more than expected in June

Lucia Mutikani, Reuters | Posted July 14 - 8:36 a.m.

Consumer inflation slowed more than expected in June, but that will probably offer little comfort to households or rule out an interest rate increase from the Federal Reserve this year.

PCE inflation measure tops 4.0% in May; consumer spending strong

PCE inflation measure tops 4.0% in May; consumer spending strong

Lucia Mutikani, Reuters | Posted June 25 - 11:42 a.m.

Inflation increased further in May, breaking above 4.0% for the first time since 2023 as the Middle East conflict boosted energy prices, though consumer spending remained strong.

Fed begins Warsh era by keeping rates on hold, sees one hike later this year

Fed begins Warsh era by keeping rates on hold, sees one hike later this year

Howard Schneider, Reuters | Posted June 17 - 1:05 p.m.

The Federal Reserve held interest rates steady on Wednesday, but policymakers expect a rate hike later this year amid growing concerns about inflation.

Pending home sales down nationwide amid record costs

Pending home sales down nationwide amid record costs

Lisa Riley Roche, Deseret News | Posted June 14 - 9:33 a.m.

U.S. pending home sales dropped for a fourth straight week as the typical cost reached a record high, according a new Redfin analysis.

US consumer inflation vaults above 4% as Iran war boosts energy prices

US consumer inflation vaults above 4% as Iran war boosts energy prices

Lucia Mutikani, Reuters | Posted June 10 - 1:31 p.m.

U.S. consumer inflation increased at its fastest pace in three years in May, boosted by surging prices for energy products amid the Middle East conflict.

The US economy added a stronger-than-expected 172,000 jobs last month

The US economy added a stronger-than-expected 172,000 jobs last month

Alicia Wallace, CNN | Posted June 5 - 9:44 a.m.

The U.S. labor market appears to have found its footing: The economy added 172,000 jobs in May, shattering expectations, new data from the Bureau of Labor Statistics showed Friday.

Tomatoes become latest symbol of America's affordability squeeze

Tomatoes become latest symbol of America's affordability squeeze

Matt Sedensky, Associated Press | Posted May 29 - 6:32 p.m.

Tomatoes, ubiquitous in everything from fast-food burgers to haute cuisine, are taking on a new role beyond the plate: A nagging reminder of rising costs.

Are mortgage rates continuing to rise?

Are mortgage rates continuing to rise?

Lisa Riley Roche, Deseret News | Posted May 29 - 7:40 a.m.

Mortgage rates were up again this week and remain at the highest level in nine months, amid heightened concerns that prices will keep rising due to the war in Iran.

Republican defiance over 'anti-weaponization' fund sets up confrontation with Trump

Republican defiance over 'anti-weaponization' fund sets up confrontation with Trump

Richard Cowan and Nolan D. McCaskill, Reuters | Posted May 24 - 4:00 p.m.

Republicans in Congress have revolted over President Donald Trump's $1.776 billion "anti-weaponization" fund, setting the stage for a searing battle as midterm elections loom.

Warsh takes the Fed's helm as inflation climbs, consumer sentiment dives

Warsh takes the Fed's helm as inflation climbs, consumer sentiment dives

Howard Schneider, Reuters | Posted May 22 - 5:01 p.m.

Kevin Warsh was sworn in as chair of the Federal Reserve on Friday at a pivotal moment for an American economy hit by surging inflation and eroding consumer sentiment.

Trump says Iran war is worth the economic pain. These rural voters agree

Trump says Iran war is worth the economic pain. These rural voters agree

Brad Brooks, Reuters | Posted May 16 - 7:46 p.m.

In two dozen recent interviews along Colorado's Highway 52, Trump voters echoed the president's logic saying the Iran War is worth the economic strain.

Mortgage rates hit a new high. What should homebuyers do?

Mortgage rates hit a new high. What should homebuyers do?

Lisa Riley Roche, Deseret News | Posted May 15 - 8:55 a.m.

Mortgage rates just hit a six-week high at 6.57%, according to Mortgage News Daily, as new reports show inflation is surging in the United States.

Warsh clinches Senate approval to be Fed's next chair as inflation intensifies

Warsh clinches Senate approval to be Fed's next chair as inflation intensifies

Nolan D. McCaskill and Ann Saphir, Reuters | Posted May 13 - 4:36 p.m.

The Senate on Wednesday approved Kevin Warsh as chair of the Federal Reserve, putting the 56-year-old at the helm as the central bank grapples with intensifying inflation.

Fed holds rates steady amid sharp divide; Powell staying as governor when term as chair ends

Fed holds rates steady amid sharp divide; Powell staying as governor when term as chair ends

Howard Schneider and Ann Saphir, Reuters | Posted April 29 - 5:22 p.m.

The Federal Reserve held interest rates steady on Wednesday, but, in its most divided decision since 1992, noted rising concerns about inflation in its policy statement.

Key inflation gauge remains elevated in February before Iran war

Key inflation gauge remains elevated in February before Iran war

Christopher Rugaber, Associated Press | Posted April 9 - 8:03 a.m.

A key measure of inflation stayed high in February, before the war in Iran spiked gas prices, a sign that everyday costs were elevated even before the conflict began.