The Latest Breaking News from Kathy Bostjancic

US inflation -- set to be a key issue for incoming president Donald Trump -- accelerated slightly last month, according to data published Wednesday, underscoring price pressures in the world's largest economy.

Retail sales in the United States accelerated in September, according to government data released Thursday, a positive sign for consumption as the election approaches.

After 10 straight rate hikes, the Federal Reserve left interest rates unchanged Wednesday, but hinted that additional rate hikes are possible if inflation remains stubbornly high.

Economists have had their say on what the Fed will do later this spring –and when rates may finally begin to fall.

Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to curb inflation by aggressively raising interest rates, he said, would “bring some pain” for Americans

Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed’s drive to curb inflation by aggressively raising interest rates would “bring some pain.”

Washington (AFP) - US retail sales held steady in July as gas prices fell sharply, but the new data released Wednesday showed consumers are still spending, keeping the pressure on the Federal Reserve to continue its aggressive interest rate hikes.

Washington (AFP) - A massive interest rate hike by the US Federal Reserve and promises of more to come are fueling warnings that the only offramp from the searing price hikes engulfing American families is a full-blown recession.

Washington (AFP) - US President Joe Biden has launched a battle against soaring prices as he tries to claw back waning public support ahead of key congressional elections, but is finding he has few tools to defuse sky-high inflation.