Fed Minutes Showed Officials Feeling Better About Inflation
Central bankers wanted to signal that interest rates were likely at or near their peak while keeping their options open, December minutes showed.
Category: Finance
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U.S. Awards Chip Supplier $162 Million to Bolster Critical Industries
The Biden administration on Thursday announced plans to provide $162 million in federal grants to Microchip Technology, an Arizona-based semiconductor company that supplies the automotive, defense and other industries. The agreement is the second award announced under a new program intended to help ensure that American companies that rely on semiconductors have a stable supply….
Auto Sales Are Expected to Slow After a Strong 2023
After enjoying a strong rebound in sales in 2023, the auto industry appears headed for slower growth this year as consumers struggle with elevated interest rates and high prices for new cars and light trucks. Edmunds, a market researcher, expects the industry to sell 15.7 million vehicles this year. That would amount to a modest…
Will America’s Good News on Inflation Last?
Prices climbed rapidly in 2021 and 2022, straining American household budgets and chipping away at President Biden’s approval rating. But inflation cooled in late 2023, a spurt of progress that happened more quickly than economists had expected and that stoked hopes of a gentle economic landing. Now, the question is whether the good news can…
Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled
Over the past two weeks, the owner of a hip wine bar in Buenos Aires saw the price of beef soar 73 percent, while the zucchini he puts in salads rose 140 percent. An Uber driver paid 60 percent more to fill her tank. And a father said he spent twice as much on diapers…
Price Increases Cooled in November as Inflation Falls Toward Fed Target
A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a positive for the White House as voters see relief from rising costs. The Personal Consumption Expenditures inflation measure, which the Fed cites when…
Choice Hotel Franchise Owners Push Back on Merger With Wyndham
When Patrick Pacious, the chief executive of a large portfolio of hotel brands, promoted a blockbuster attempt to acquire a competitor in October, he said the proposed merger would lower costs and attract more customers for the families and small businesses that own most of the company’s locations. “Our franchisees instantly grasped the strategic benefit…
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up
The Biden administration is quietly signaling new support for seizing more than $300 billion in Russian central bank assets stashed in Western nations, and has begun urgent discussions with allies about using the funds to aid Ukraine’s war effort at a moment when financial support is waning, according to senior American and European officials. Until…
What Social Trends Taught Us About the 2023 Economy
This year, the world learned that some men just can’t stop thinking about the Roman Empire. Over here at The New York Times, we can’t stop thinking about what social trends like that one tell us about the American economy. We had no shortage of viral memes and moments to discuss in 2023. Americans flocked…
Companies Like Afterpay and Affirm May Put Americans At Risk For ‘Phantom Debt’
Buying mattresses, clothes and other goods on installment plans has propped up spending, but economists worry that such loans could put some people at risk.