An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

Fed Chair Jerome Powell said Wednesday that he continues to look at the overall progress that inflation has made in moving back toward the central bank’s 2% target. While the bank’s latest statement did leave out a December reference to strides made in the fight against inflation,

The Fed said the job market is “solid,” and noted that the unemployment rate “has stabilized at a low level in recent months.”

Powell made clear that Fed policymakers are in no rush to reduce interest rates further, after lowering borrowing costs by a full percentage point in the final months of 2024. Whe

The president’s post suggests that he intends to continue his criticism of Fed Chair Jerome Powell on social media, which became a regular feature during his first term.

The Federal Reserve kept its key interest rate unchanged as officials grappled with uncertainty caused by inflation and President Trump's plans.

Fed Chair Jerome Powell said “we do not need to be in a hurry to adjust our policy stance” and monetary policy is “well positioned” for the challenges at hand.

Gold steadied near a record high, after investors flocked to safety when US President Donald Trump reiterated threats to impose tariffs on Mexico and Canada.

Fixed-income investors, often sensitive to signs of trouble, appear calm despite uncertainty over issues such as tariffs and the federal budget deficit.

The Federal Reserve’s preferred inflation gauge moved even higher in December, driven in part by rising food and energy prices. However, a closely watched measurement of underlying inflation trends indicated some progress in the fight to rein in price hikes.

Fresh tariffs amid high inflation are making the Fed’s job uniquely difficult and feeding uncertainty about what to expect for interest rates this year.