Incoming economic data and market developments will likely determine whether the Federal Reserve boosts interest rates in September, a Fed official says.
The biggest hurdle to a stronger economy is the lackluster wage growth during the current recovery, according to Bloomberg economist Richard Yamarone.
Federal Reserve officials in their June discussions appeared to move closer to their first interest rate hike in nearly a decade.
Consumer prices rose slightly in July as gas and food prices increased a bit, but jumps in shelter costs suggested inflation pressures were stabilizing.
Producer prices rose for a third straight month in July, but inflation pressures remain benign against the backdrop of lower oil prices and a strong dollar.
The Federal Reserve will probably raise interest rates twice this year, with the first increase coming as early as next month, a survey shows.
While wage growth has stalled -- and salaries have been largely flat since the 1970s -- Goldman Sachs says gains may resume starting in early 2016.
Retirees are facing a double whammy next year: no inflation adjustment in Social Security benefits and a huge 52 percent jump in certain Medicare premiums.
Labor costs in the second quarter recorded their smallest rise in 33 years amid tepid gains in the private sector, but it likely was a temporary setback.
The U.S. economy and job market continue to strengthen, the Federal Reserve said Wednesday, leaving the door open for a possible rate hike in September.
For American consumers who have become used to flat or even falling prices, an unfamiliar sight has emerged in the economy: Inflation is ticking up.
American students spend about 1,000 hours in school each year, and yet very few, if any, of those hours are dedicated to learning about personal finance.
The Federal Reserve is getting close to raising interest rates for the first time in nearly a decade, perhaps in September.
Devouring a McDonald's Big Mac or a Chipotle burrito is on a fast-track to becoming a luxury for many consumers as beef prices and workers' wages climb.
While the surge in prices for eggs have stabilized and pork is now cheaper, consumers shouldn't expect a reprieve in the cost of beef.
Consumer prices rose for a fifth straight month in June as the cost of gasoline and a range of other goods increased.
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Fed Chair Janet Yellen tells Congress that the central bank remains on track to raise interest rates this year, with labor markets seen steadily improving.
Producer prices rose more than expected in June as the cost of gasoline and other goods rose, indicating the recent oil-driven drop in prices was abating.
Higher wages, rising health care costs, and increased food costs are driving several major restaurant chains to lift their prices.
Starbucks is raising prices again starting Tuesday, with the increases ranging from 5 to 20 cents for most affected drinks, the company said.