U.S. producer prices increased by the most in six months in October, lifted by g...
WASHINGTON - U.S. producer prices increased by the most in six months in October, lifted by gains in the costs of goods and services, further bolstering the Federal Reserve’s stance that it will probably not cut interest rates again in the near term.
The U.S. central bank last month cut rates for the third time this year and signaled a pause in the easing cycle that started in July when it reduced borrowing costs for the first time since 2008. Fed Chair Jerome Powell reiterated that stance in testimony before lawmakers on Wednesday. The data came on the heels of a report on Wednesday showing a strong rise in consumer prices in October amid large gains in healthcare costs and prices of used cars and trucks.
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 225,000 for the week ended Nov. 9, the highest reading since June 22, the Labor Department said. Some of the states, including California, Pennsylvania and Virginia, did not have enough time to process the claims data because of Monday’s Veterans Day holiday, leading to them making estimates.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. inflation firms on rising healthcare, energy costsU.S. consumer prices jumped by the most in seven months in October, which togeth...
Read more »
U.S. pork prices rise as fatal pig disease cuts global meat supply: Tyson Foods CEOU.S. pork prices rose in recent weeks at a time when they would normally be fall...
Read more »
Oil rises after OPEC's Barkindo says U.S. shale growth may slow in 2020Oil prices rose on Thursday after industry data showed a surprise drop in U.S. c...
Read more »
U.S. consumer prices increase more than expected in OctoberWASHINGTON, Reuters) - U.S. consumer prices rebounded more than expected in Octo...
Read more »
Disney Stock Rises As Investors Overlook Tech Glitches Hitting Disney+ DebutDisney stock rose steadily Tuesday morning and remained solidly positive at the midway point of the trading day as investors appeared to look past the tech issues dogging the DisneyPlus streaming debut
Read more »
France's Saint-Gobain to buy U.S. firm Continental Building Products for $1.4 billionFrench construction material producer Saint-Gobain has agreed to buy U.S. compan...
Read more »