Federal Reserve policymakers are expected to end months of speculation Wednesday and raise a key interest rate for the first time in nearly a decade. But for average Americans hoping for noticeably higher returns on their savings or fearing a sharp increase on credit card, auto loan or mortgage rates, the waiting is likely to continue.
Washington (AFP) — The U.S. Commerce Department raised its estimate for U.S. economic growth to 4.2 percent Thursday, confirming the solid rebound from the first quarter’s steep contraction. The department said a fuller set of data showed a higher level of fixed investment by companies and the government, contributing to the 0.2 point upward revision […]
Washington (AFP) — U.S. consumer confidence increased for a fourth straight month in August, the Conference Board said Tuesday, with views of the jobs market improving with the pickup in hiring nationally. The consumer confidence index rose to 92.4 from 90.3 in July, compared with 81.8 a year ago. It was the best level for […]
Washington (AFP) — Consumer prices in the United States rose a bare 0.1 percent in July despite strong gains in food costs, the Labor Department reported Tuesday. The slowdown in consumer inflation after three months of faster gains left the year-on-year consumer price index (CPI) up 2.0 percent, a level the Federal Reserve’s monetary policy […]
By Mary MacVean, Los Angeles Times Regulations that tell consumers just what it means when a product is labeled “gluten free” take effect on Tuesday — a “major milestone,” says one of the leading experts on gluten disorders. “The gluten-free diet for someone with celiac disease is like insulin for diabetics,” says Dr. Alessio Fasano, […]
Washington (AFP) – U.S. retail sales fell unexpectedly for the second straight month in January, dragged down by a drop in auto sales, government data showed Thursday. Retail and food service sales dropped 0.4 percent from December, the Commerce Department said. Excluding auto sales, retail sales were flat in January. Sales of motor vehicles and […]
Washington (AFP) – The U.S. economy grew at a robust annual rate of 3.2 percent in the fourth quarter despite the partial government shutdown in October, according to Commerce Department data released Thursday. Growth in gross domestic product was led by pick-ups in exports and consumer spending, the main driver of the U.S. economy. Most […]