The Fed is also tipped to signal a slower path of cuts going forward amid uncertainty over the impact of President-elect Donald Trump's economic proposals
The consumer price index (CPI) rose to 2.7 percent last month from a year ago
The lame-duck president's speech comes after Trump won a second term largely on the back of US voters' anger at high costs of living under Democrats.
The labour market's resilience is driving the economy through strong consumer spending, with the closely watched employment report from the Labor Department on Friday showing solid wage growth last month
Holiday shoppers largely browsed at brick-and-mortar stores, making more online purchases at some retailers, snapping up such items as pre-owned Rolex watches,
The Federal Reserve has a dual mandate from Congress to keep both inflation and unemployment under control, and recently began rolling back high interest rates in order to better support the labor market
New York Fed President John Williams said inflation was now "within striking distance" of two percent.
The biggest sales during the annual day-after-Thanksgiving promotions were for toys, jewelry, household appliances, skin- and hair-care products, clothes and electronic devices
Trump, who won a crushing presidential victory this week, vowed during his campaign to slap 60 percent tariffs on all Chinese goods entering the United States in an attempt to balance trade between the two nations.
US Vice President Kamala Harris plans to roll out a new set of economic policies this week that aim to help Americans build wealth and set economic incentives for businesses to aid that goal, three sources with knowledge of the matter said
"It reflects confidence on the part of the Fed that inflation has come way down and is on the path back to the two percent target, and that the risks with respect to inflation have really meaningfully diminished," Yellen told an event in Washington
The US Federal Reserve's decision to cut interest rates by half a percentage point gives consumers a much-needed psychological boost ahead of November's presidential election.
The Federal Reserve cut US short-term borrowing costs on Wednesday by a bigger-than-usual half percentage point, a watershed moment that should start to ease some of the financial pressures everyday consumers have felt
How stocks, bonds and the dollar perform after the Federal Reserve kicks off its rate-cutting cycle could depend on one factor more than most: the health of the US economy.
With inflation easing and the labor market cooling, it will likely be appropriate for the US Federal Reserve to make a series of interest rate cuts in the coming months, a senior official said Friday
US manufacturing contracted at a moderate pace in August amid some improvement in employment, but a further decline in new orders and rise in inventory suggested factory activity could remain subdued for a while
Since 2019, the 25 percent of American workers with the lowest wages have been paid 5.4 percent more a year on average, compared with 3.8 percent raises for the country’s top 25 percent of earners
Consumer inflation data published Thursday showed that food prices rose by 2.2 percent in the 12 months to April -- masking some sharp differences between items.
The annual consumer price index (CPI) came in at 3.4 percent in April, down 0.1 percentage point from March
