Mortgage rates are nearing 7%. One house hunter says he's "despondent."
"It seems like we're trying to climb out of a hole somebody else is digging," said one frustrated house hunter as homeownership costs rise.
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"It seems like we're trying to climb out of a hole somebody else is digging," said one frustrated house hunter as homeownership costs rise.
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
Strong hiring last month was driven by gains in education and in leisure and hospitality, with the nation's jobless rate remaining steady at 4.1%.
Alan Greenspan's lengthy reign at the Federal Reserve coincided with a period of stability from the mid-1980s until 2007.
U.S. inflation is expected to remain elevated through the end of the year, Fed officials say in their latest forecast.
The personal consumption expenditures price index, the Federal Reserve's preferred gauge of inflation, jumped due to higher energy costs.
Some economists think the Fed, facing inflationary pressures from rising energy prices, may not cut interest rates at all this year.
President Trump says he is nominating Kevin Warsh to be the next chair of the Federal Reserve, filling a powerful economic policy role as the president pushes for lower interest rates.
The subpoenas threatened a criminal indictment related to Jerome Powell's testimony before the Senate Banking Committee in June 2025, according to the Fed chair.
Three former Fed chairs and other top economic officials decry "prosecutorial attacks" on Jerome Powell, saying it undermines the central bank.
The Federal Reserve is grappling with economic issues including higher inflation and a slowing labor market.
Bitcoin has erased all of its 2025 gains and is on track for its worst monthly performance since 2022. Here's what experts say about the decline.
The Fed on Wednesday announced its second interest-rate cut of 2025, reducing borrowing costs in a move to spur U.S. hiring.
The Federal Reserve is cutting its benchmark interest rate as the U.S. economy faces headwinds, including a faltering labor market.
Americans' confidence in finding a new job fell to the lowest measure on record, new government survey shows.
President Trump said Monday he has fired Lisa Cook from the Federal Reserve's Board of Governors. Her attorney countered that they plan to file a lawsuit challenging the move.
Federal Reserve Chair Jerome Powell has been under pressure from President Trump to lower the central bank's benchmark interest rate.
The Fed is maintaining its benchmark interest rate in the range of 4.25% to 4.5%, where it's been parked since December.
President Trump has lashed out against Federal Reserve Chair Jerome Powell for weeks.
Employers across the U.S. added 147,000 jobs in June, while the unemployment rate fell to 4.1%.
Federal Reserve Chair Jerome Powell, who is testifying before Congress this week, said tariffs are "likely to push up prices."
The Federal Reserve said Wednesday it will maintain the benchmark interest rate at its current range of 4.25% to 4.5%
President Trump said he isn't planning on firing Federal Reserve chair Jerome Powell, one day after calling Powell a "major loser."
Fed Chair Jerome Powell cites "high uncertainty" around the impact of Trump administration tariffs on key trading partners.
