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Digital displays are illuminated to mark the prices for the various grades of gasoline available from a pump at a Circle K station Friday, April 22, 2022, in south Denver. (AP Photo/David Zalubowski)

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A key inflation gauge jumped 6.6% in March, most since 1982
By CHRISTOPHER RUGABER - AP Economics Writer
Fri,04/29/22-7:45AM , 163 Reads
WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the economy.
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A customer prepares to pump gasoline into his car at a Sam's Club fuel island in Gulfport, Miss., Feb. 19, 2022. The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, Thursday, April 28, 2022, contracting at a 1.4% annual rate, but consumers and businesses kept spending in a sign of underlying resilience. (AP Photo/Rogelio V. Solis)

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US economy shrinks, threats loom, but growth likely to last
By CHRISTOPHER RUGABER - AP Economics Writer
Thu,04/28/22-7:38AM , 147 Reads
WASHINGTON (AP) — The U.S.
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FILE- In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. The U.S. Senate on Tuesday, April 26, 2022 approved Brainard to a four-year term as vice chair of the Federal Reserve, elevating her to a top policymaking position in the midst of the central bank's toughest fight against inflation in four decades. (AP Photo/Cliff Owen, File)

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Brainard wins Senate confirmation to be Fed's vice chair
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,04/26/22-2:44PM , 227 Reads
WASHINGTON (AP) — The Senate on Tuesday confirmed the nomination of Lael Brainard to a four-year term as vice chair of the Federal Reserve, elevating her to the Fed's No. 2 post in the midst of the central bank's toughest fight against inflation in four decades.
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Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing, Thursday, March 3, 2022 on Capitol Hill in Washington. Powell said Wednesday, March 23, that new forms of digital money such as cryptocurrencies and stablecoins present risks to the financial systems and will require new rules to protect consumers. (Tom Williams, Pool via AP, File)

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Powell reinforces expectations of sharp rate hike next month
By CHRISTOPHER RUGABER - AP Economics Writer
Thu,04/21/22-1:57PM , 157 Reads
WASHINGTON (AP) — The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed's next
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