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…

The Marriner S. Eccles Federal Reserve Board Building in Washington, D.C.Sarah Silbiger | ReutersMarkets are nearly certain the Federal Reserve next month will take another step down in the pace of its interest rate increases.Pricing…

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…

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…

Workers sort packages at a FedEx Express facility on Cyber Monday in Garden City, New York, on Monday, Nov. 28, 2022.Michael Nagle | Bloomberg | Getty ImagesJob openings dipped in October amid the Federal Reserve's efforts to cool off a…

Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines.Sales of previously owned homes dropped 5.9% from September to October, according to the National…

Susan Collins, Boston Federal ReserveSource: Federal Reserve Bank of BostonBoston Federal Reserve President Susan Collins expressed confidence Friday that policymakers can tame inflation without doing too much damage to employment."By…