The Latest Breaking News from James Knightley

S&P 500 index of major US companies registers near 34% gain on year ago amid expectation of interest rate cuts

CPI revisions on Friday didn't alter the recent sub-2% inflation trend, dealing a setback to Federal Reserve rate-cut expectations.

Washington (AFP) - The US Federal Reserve is poised to slow its interest rate hikes next week, economists say, as central bankers' most forceful moves in decades to fight inflation ripple through the economy.

Washington (AFP) - US job gains were unexpectedly robust in November despite efforts to cool the economy, while unemployment held steady and wages ticked up, the government reported Friday.

As the U.S. housing market continues to cool, a growing number of forecasters say homeowners could soon experience significant price declines. These analysts look at the record run-up in home prices during the COVID pandemic and say a drop of 20% or more looms in the near future.

Odds are now close to even that the U.S. economy will slip into a recession within the next year as persistent and rapid inflation emboldens the Federal Reserve to pursue larger interest-rate hikes.