Inflation

A Security member stands guard at one of the entrance of the New York Stock Exchange in New York, Tuesday, March 19, 2024. (AP Photo/Eduardo Munoz Alvarez)

Stock market today: Asian shares are mixed after another Wall Street record day

Stocks are mixed in Asia after Wall Street tapped fresh records, led by big gains in chipmakers. Japan’s Nikkei 225 topped 41,000 for the first time early Friday but then fell back.

FILE - Shoppers buy food in a supermarket in London, on Aug. 17, 2022. Food prices and overall inflation will rise as temperatures climb with climate change, a new study by an environmental scientist and the European Central Bank found. (AP Photo/Frank Augstein, File)

Higher temperatures mean higher food and other prices. A new study links climate shocks to inflation

FILE - Chocolate rabbits wait to be decorated at the Cocoatree chocolate shop, April 8, 2020, in Lonzee, Belgium. Sweet Easter baskets will likely come at a bitter cost this year for consumers as the price of cocoa climbs to record highs. (AP Photo/Virginia Mayo, File)

Rich cocoa prices hitting shoppers with bitter chocolate costs as Easter approaches

Swiss National Bank's (SNB) Chairman of the Governing Board, Thomas Jordan, gestures during a press briefing at the Swiss National Bank in Zurich, Switzerland, Thursday, March 21, 2024. (Michael Buholzer/Keystone via AP)

Swiss central bank makes a surprise cut to its key interest rate as others hold steady

A Security member stands guard at one of the entrance of the New York Stock Exchange in New York, Tuesday, March 19, 2024. (AP Photo/Eduardo Munoz Alvarez)

Stock market today: Asian shares slip after another Wall Street record day

Justice Department hits Apple with sweeping antitrust suit alleging illegal monopoly

The Justice Department announces an antitrust lawsuit against Apple, accusing the tech giant of engineering an illegal monopoly in smartphones that boxes out competitors and stifles innovation.

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Federal Reserve still foresees rate cuts this year

Powell: Rate cuts likely after inflation is tamed

Hundreds of tractors advance on Madrid for a major farmer protest over EU policies

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FILE - A woman walks in front of the Bank of England, at the financial district in London, on March 23, 2023. The Bank of England is widely expected to indicate Thursday March 21, 2024 that interest rates could be cut in the coming months following news that inflation across the U.K. is falling faster than expected. (AP Photo/Kin Cheung, File)

UK inflation is heading in ‘right direction,’ but Bank of England isn’t ready to cut rates

The Bank of England has kept its main interest rate unchanged at a 16-year high even though inflation continues to drop from multi-decade peaks.

Sen. Bob Casey, D-Pa., listens to a speaker during an event at AFSCME Council 13 offices, March 14, 2024, in Harrisburg, Pa. For Democrats trying to defend the White House and Senate majority, Casey is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation, a key soft spot in 2024 for Democrats on the all-important voter issue of the economy. (AP Photo/Marc Levy)

In Pennsylvania’s Senate race, Casey puts ‘greedflation’ and corporations on the ballot

For Democrats trying to defend the White House and Senate majority, Democratic Sen. Bob Casey of Pennsylvania is emerging as the tip of the spear in trying to reframe the election-year narrative around inflation.

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

FILE - Shoppers buy food in a supermarket in London, on Aug. 17, 2022. Price rises in the U.K. eased by more than anticipated in the year to February, official figures showed Wednesday, March 20, 2024, raising expectations that the Bank of England may start cutting interest rates in the next few months. (AP Photo/Frank Augstein, File)

UK inflation falls by more than expected in February, triggering talk of lower interest rates

Price rises in the U.K. eased more than anticipated in February, raising expectations that the Bank of England may start cutting interest rates in the next few months.

Federal Reserve Board Chair Jerome Powell speaks during a news conference the Federal Reserve in Washington, Wednesday, March 20, 2024. (AP Photo/Susan Walsh)

Federal Reserve still foresees 3 interest rate cuts this year despite bump in inflation

Federal Reserve officials signaled that they still expect to cut their key interest rate three times in 2024 despite signs that inflation remained elevated at the start of the year.

FILE - A shop holds a sidewalk sale on Feb. 10, 2023, in Providence, R.I. Inflation remains a top concern for small businesses, which reported lower optimism in February. (AP Photo/David Goldman, File)

Inflation remains a headache for small business owners

Inflation remains a top concern for small businesses, which reported lower optimism in February. The National Federation of Small Business Optimism Index fell to 89.4 in February, the 26th consecutive month below the 50-year average of 98.

The headquarters of Bank of Japan (BOJ) is seen in Tokyo Tuesday, March 19, 2024. Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. (Kyodo News via AP)

The Bank of Japan ends its negative interest rate policy, opting for its first hike in 17 years

Japan’s central bank has raised its benchmark interest rate for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy.

FILE - Federal Reserve Board Chair Jerome Powell speaks during his appearance before the House Financial Services Committee on Capitol Hill, March 6, 2024, in Washington. The Federal Reserve is set this week to leave interest rates unchanged for a fifth straight time. (AP Photo/Mark Schiefelbein, File)

Federal Reserve is likely to preach patience as consumers and markets look ahead to rate cuts

Across the United States, many people are eagerly anticipating the Federal Reserve’s first cut to its benchmark interest rate this year: Prospective home buyers hope for lower mortgage rates.

A person stands in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, March 18, 2024, in Tokyo. Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. (AP Photo/Eugene Hoshiko)

Stock market today: Asian stocks gain ahead of US and Japan rate decisions

Asian stocks are higher ahead of policy decisions this week by Japan’s central bank and the Federal Reserve.

FILE - Workers produce car mats in a factory of car interior pieces in Yantai in east China's Shandong province on Feb. 21, 2024. China's manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said Monday, March 18. (Chinatopix via AP, File)

China’s economy shows signs of improvement, but its property sector is still in the doldrums

China has reported its manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy.

Travelers walk through Philadelphia International Airport in Philadelphia, Friday, Feb. 16, 2024. On Friday, March 15, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for March. (AP Photo/Matt Rourke)

US consumer sentiment ticks down slightly, but most expect inflation to ease further

Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing.

FILE - An NYSE sign is seen on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. (AP Photo/Seth Wenig, File)

Stock market today: Wall Street slips further away from records amid inflation worries

Stocks retreated from a record high set earlier this week on Wall Street. The S&P 500 fell 0.6% Friday.

FILE - A worker at Reata Engineering and Machine Works prepares a Hexagon machine used to confirm that parts meet customer standards on Feb.15, 2024, in Englewood, Colo. On Thursday, March 14, 2024, the Labor Department releases producer prices data for February. (AP Photo/David Zalubowski, File)

US wholesale prices picked up in February in sign that inflation pressures remain elevated

Wholesale prices in the United States accelerated again in February, the latest sign that inflation pressures in the economy remain elevated and might not cool in the coming months as fast as the Federal Reserve or the Biden administration would like.

FILE - Employees arrange a display at a Kohl's store in Clifton, N.J., Jan. 26, 2024. On Thursday, March 14, 2024, the Commerce Department releases U.S. retail sales data for February. (AP Photo/Seth Wenig, File)

February retail sales up 0.6%, yet fissures emerge in what has been a driving force for US economy

American shoppers picked up their spending a bit in February after pulling back the previous month. But last month’s gain was weaker than expected, and January’s decline was revised even lower, suggesting that consumers are becoming more cautious.

FILE - People stand in front of an electronic stock board showing Japan's stock prices at a securities firm Monday, Feb. 26, 2024, in Tokyo. Asian markets retreated Friday, March 15, with Hong Kong’s benchmark falling nearly 2%, after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon.(AP Photo/Eugene Hoshiko, File)

Stock market today: Asian markets retreat after data dash hopes that a US rate cut is imminent

Asian markets have retreated after a mixed batch of data on the U.S. economy dashed hopes that easier interest rates are coming soon. Hong Kong’s benchmark fell 2%.

FILE - A pedestrian passes by a Hong Kong Stock Exchange electronic screen in Hong Kong on July 21, 2023. China stocks were mixed Wednesday, March 13, 2024, as the country scrambled to avoid major real estate developer bankruptcy. (AP Photo/Louise Delmotte, File)

Chinese stocks slide as investors maintain caution after US inflation report

China stocks slide after the overnight United States inflation report. It signaled a diminished possibility of the Fed’s rate cut, making investors cautious.

FILE - Argentine President Javier Milei leaves an event in Buenos Aires, Argentina, Jan. 26, 2024. The organization Human Rights Watch warned, Thursday, Feb. 29, 2024, that the security policies adopted by Milei and his confrontation with the opposition in Congress pose a risk to democracy and human rights in Argentina. (AP Photo/Natacha Pisarenko, File)

Argentina inflation slows for a second month as President Milei keeps pushing austerity measures

Argentina’s inflation slowed down for a second consecutive month in February, as right-wing President Javier Milei continues to push austerity and deregulation measures in an effort to revive the country’s struggling economy.

Southwest Airlines, Asana fall; Oracle, 3M rise, Tuesday, 3/12/2024

Stocks that traded heavily or had substantial price changes on Tuesday: Southwest Airlines, Asana fall; Oracle, 3M rise.

FILE - A person looks at an electronic stock board showing Japan's stock prices at a securities firm Friday, March 1, 2024, in Tokyo. Asian shares mostly rose Wednesday, March 13, encouraged by a record rally on Wall Street that was led by technology companies. (AP Photo/Eugene Hoshiko, File)

Stock market today: Asian shares mostly rise after Wall Street’s record rally

Asian shares are mostly rising, encouraged by a record rally on Wall Street that was led by technology companies.

Shoppers carry their purchases in Bradenton, Fla., Friday, Feb. 9, 2024. On Tuesday, March 12, 2024, the Labor Department issues its report on inflation at the consumer level in February. (AP Photo/Gene J. Puskar)

US inflation up again in February in latest sign that price pressures remain elevated

Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Joe Biden’s re-election campaign, both of which are counting on a steady easing of price pressures this year.

How major US stock indexes fared Monday, 3/11/2024

Stock indexes drifted to a mixed close as Wall Street prepared for a report on inflation that could show how realistic its hopes for easier interest rates are.

People shop for beef at a butchery in Algiers, Algeria, Sunday, Feb. 18, 2024. Algeria is importing massive amounts of beef and lamb to confront an explosion in demand for meat expected throughout the Muslim holy month of Ramadan, hoping to stabilize prices as the country's economy continues to struggle. The oil-rich North African nation is among countries working to import food and fuel, hoping to meet the requirements of Algerians preparing nightly feasts as their families break their sunrise-to-sunset fasts. (AP Photo/Fateh Guidoum)

Excitement and skepticism meet Algeria’s decision to import beef to meet high demand during Ramadan

Algeria is importing massive amounts of beef and lamb to ensure it is available to consumers who can’t afford locally sourced red meat.

This week: Consumer prices, wholesale prices, retail sales

The U.S. government will release data on consumer prices on Tuesday. The Labor Department issues its February reading on wholesale prices Thursday.

A currency trader passes by the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, March 12, 2024. Shares were mostly higher in Asia on Tuesday ahead of a report on inflation in the U.S. that could sway the Federal Reserve’s timing on cutting interest rates. (AP Photo/Ahn Young-joon)

Stock market today: Asian shares are mostly higher ahead of a US report on inflation

Shares are mostly higher in Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve’s timing on cutting interest rates.

President Joe Biden speaks during a meeting of his Competition Council to announce new actions to lower costs for families in the State Dining Room of the White House in Washington, Tuesday, March 5, 2024. (AP Photo/Andrew Harnik)

Biden calls out ‘shrinkflation’ as part of a broader strategy to reframe how voters view the economy

President Joe Biden is all-in on calling out “shrinkflation.” The term applies to a seemingly covert way for companies to raise prices by ever so slightly reducing the size of their products.

FILE - A construction worker looks up at the I-10 freeway, which was closed by fire on Nov. 19, 2023, in Los Angeles. On Friday, March 8, 2024, the U.S. government issues its February jobs report. (AP Photo/Alex Gallardo, File)

Another burst of hiring shows off the resilience of the US job market

America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates.

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Friday, March 8, 2024. Asian shares were mostly higher Friday, after U.S. stocks climbed to records, with easier interest rates beckoning on the horizon. (AP Photo/Lee Jin-man)

Stock market today: Asian shares rise after Wall Street sets another record

Asian shares are mostly higher after U.S. stocks climbed to records, with easier interest rates beckoning on the horizon.

President of European Central Bank Christine Lagarde, center, walks to the press conference in Frankfurt, Germany, Thursday, March 7, 2024, after a meeting of the ECB's governing council. The European Central Bank left its key interest rate at a record high as it waits for more confirmation that toxic inflation is under control for good — even as high borrowing costs drag on the stalled economy. (AP Photo/Michael Probst)

Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer

The European Central Bank has left its key interest rate at a record high even though inflation is way down from its painful double-digit peak and the economy has stalled.

Egyptians walk past an exchange office in Cairo, Egypt, Wednesday, March 6, 2024. The Egyptian pound slipped sharply against the dollar on Wednesday after the Central Bank of Egypt raised its main interest rate and said it would allow the currency's exchange rate to be set by market forces. (AP Photo/Amr Nabil)

Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion

Egypt has floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan to $8 billion.

Federal Reserve Board Chair Jerome Powell appears before the House Financial Services Committee on Capitol Hill, Wednesday, March 6, 2024, in Washington. (AP Photo/Mark Schiefelbein)

Fed’s Powell: Rate cuts likely this year, but more evidence is needed that inflation is tamed

Chair Jerome Powell reinforced his belief that the Federal Reserve will cut its key interest rate this year but said it first wants to see more evidence that inflation is falling sustainably back to the Fed’s 2% target.