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Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates
The personal consumption expenditures price index was projected to increase 0.5% in September for an annual rate of 3.7%, according to the Dow Jones consensus....
News
Analysis: Kevin Warsh is keeping Wall Street guessing. It may be his most powerful tool
The new chairman made clear he leans toward higher interest rates, but left himself options depending on how the data comes in.
News
European Central Bank keeps key interest rate on hold at 2.5%
Markets saw the decision as a hawkish pause and were last pricing in a 67% chance of a December rate hike.
business
US GDP grew by 3.4 percent in third quarter amid AI investment boom
U.S. economic growth increased in the third quarter, as the surge in artificial intelligence investment continued and consumers kept spending despite persistent inflation. The country’s gross domestic product (GDP) increased at an annual rate of 3.4 percent from July through Sept...
business
DoorDash buying Instacart for $17B
DoorDash announced Thursday it will acquire Instacart, buying the grocery delivery company for around $17 billion. Instacart will keep its brand name, and customers will be able to continue using the app for their grocery shopping orders, DoorDash said in a statement. The acquisi...
business
Federal Reserve's preferred measure of inflation rose slightly in September
Inflation increased slightly in September after declining in August, new data from the Bureau of Economic Analysis (BEA) showed Thursday. The personal consumption expenditures (PCE) price index, the preferred inflation metric for the Federal Reserve, rose by 0.5 percent last mont...
government
Live updates: Trump, Obama, Vance hit key states in midterm sprint
Former President Obama is stopping in Atlanta on Wednesday — less than a week out from Election Day — to give a boost to Democrat Keisha Lance Bottoms, who's running for Georgia governor, and incumbent Sen. Jon Ossoff (D). Obama's visit to the Peach State comes just a few days af...
government
Watch live: Warsh speaks after Fed votes to keep interest rates steady
Federal Reserve Chair Kevin Warsh will speak to reporters Wednesday after the central bank voted to hold interest rates steady at 3.75 percent to 4 percent, despite persistent inflation and mounting economic pressures ahead of the midterm elections. The decision comes six weeks a...
government
Federal Reserve holds interest rates steady in face of persistent inflation
Federal Reserve officials held interest rates steady Wednesday despite stubborn inflation. The central bank's Federal Open Market Committee (FOMC) voted 10-2 to keep the benchmark federal funds rate range at 3.75 percent to 4 percent. "The committee believes that the accumulation...