The recent slowdown in inflation is a trend and not a “one-month blip,” Chicago Fed President Austan Goolsbee said Monday. In an interview with the Financial Times, Goolsbee denied that progress had stalled on getting inflation back to the Fed’s 2% target. In the FT interview, Goolsbee said “there is…

By Leika Kihara and David Lawder MARRAKECH, Morocco (Reuters) -Finance leaders of the Group of Seven (G7) advanced nations on Thursday condemned “terror attacks” on Israel by Hamas and voiced their “unwavering” support for Ukraine in its continuing struggle against a Russian invasion. The escalating geo-political tension overshadowed the G7…

The price of bitcoin on Monday rallied following a false report on social media that the Securities and Exchange Commission approved an application for a spot bitcoin exchange-traded fund. Bitcoin BTCUSD, +0.10% prices briefly touched $29,900, a more than 10% increase, before giving up most of those gains, according to…

The US economy continues to grapple with inflation as the Consumer Price Index (CPI) saw a year-on-year rise of 3.7% in September, slightly outpacing the projected 3.6%. This figure mirrors the growth observed in August. The core measure, which excludes volatile food and fuel costs, climbed by 4.1%, meeting expectations…

President Joe Biden has postponed a trip to Colorado planned for Monday and instead is remaining in Washington, D.C., to participate in national-security meetings, a White House official said. Biden had been scheduled to give a speech in Pueblo, Colo., at a CS Wind 112610, +0.38% facility that manufactures towers for wind turbines.…

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve officials throughout this year had pinned their hopes for falling inflation in part on an expected easing of U.S. housing price increases that would flow from their sharp interest rate hikes, and the data had largely followed suit. That changed in September when…

“‘Funflation, Taylor Swift … those experiences are really where people are willing to pay.’” That was Best Buy BBY, +1.64% CEO Corie Barry blaming the electronics giant’s slipping sales on shoppers spending their money on experiences instead of products like new TVs or tech devices. Barry said this “means the…

By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Bank of Boston President Susan Collins on Thursday said the latest inflation data underscores uneven progress toward restoring price stability, in comments that reiterated her view that the central bank may have to raise rates again to get price pressures…

Albert Gore III of the Zero Emission Transportation Association highlighted on Thursday a series of federal initiatives aimed at addressing the affordability and infrastructure concerns associated with electric vehicles (EVs). These measures include a $7,500 federal tax credit from the Internal Revenue Authority (IRA), which has broadened access to EVs,…

The numbers: The New York Fed’s Empire State business-conditions index, a gauge of manufacturing activity in the state, edged down 6.5 points in October to negative 4.6, the regional Fed bank said Monday.  Economists had expected a negative 6 reading, according to a survey by the Wall Street Journal. Any…