Breaking News: Economy

Prospective buyers at an open house in Florida.Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty ImagesThe average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily.The…

Employment costs increased at a slower than expected pace in the fourth quarter, indicating that inflation pressures on business owners are at least leveling off.The employment cost index, a barometer the Federal Reserve watches closely…

The IMF has revised its global economic outlook upwards.Norberto Duarte | Afp | Getty ImagesThe International Monetary Fund on Monday revised upward its global growth projections for the year, but warned that higher interest rates and…

Egg shelves are seen with a note apologizing to customers for the price increase after the reduction in productivity brought on by poultry fatalities caused by various illnesses, in San Mateo, California, United States on January 23,…

U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., on Dec. 14, 2022.Liu Jie | Xinhua News Agency | Getty ImagesFederal Reserve Chairman Jerome Powell on Tuesday stressed the need for the central bank…

WASHINGTON – Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank's December…

November's inflation data confirmed what many economists had been expecting: Price increases probably have peaked, providing relief in sight from the highest cost of living surge in more than 40 years. That's the upside of the latest…

Shoppers carry bags of purchased merchandise at the King of Prussia Mall on December 11, 2022 in King of Prussia, Pennsylvania.Mark Makela | Getty ImagesConsumers grew more optimistic about inflation in November amid expectations that…

A "For Sale" sign in front of a home in Sacramento, California, on Monday, Dec. 5, 2022.David Paul Morris | Bloomberg | Getty ImagesLower mortgage rates are pulling some current homeowners back to the refinance market, but not enough to…

No matter what Federal Reserve Chairman Jerome Powell tells market participants these days, it seems they only hear the good stuff. Two recent examples: First in July, when Powell hinted that smaller interest rate hikes could be on the…