Total U.S. home sales soared in August, but a record crunch in housing supply sent prices surging. That is a fresh reminder that while the housing market is outperforming during the coronavirus crisis, good news for some comes with evidence of rising inequality and fewer opportunities for others.
More action is needed from Congress and state and local governments to adequately address wealth and income inequalities, two Federal Reserve policymakers said on Monday.
The way Federal Reserve Chair Jerome Powell sees it, the U.S. labor market has a long way to go to meet the central bank's maximum employment goal and a lot of boxes to tick along the way.
Sept 17 The way Federal Reserve Chair Jerome
Powell sees it, the U.S. labor market has a long way to go to
meet the central bank's maximum employment goal and a lot of
boxes to tick along the way.
Judith Ramirez received a letter this month that she'd been dreading: The Honolulu hotel that furloughed her from a housekeeping job in March, during the lockdown triggered by the coronavirus pandemic, made her layoff permanent.
In the week since the Federal Reserve made a landmark shift in its approach to monetary policy, details are emerging on what it could look like in practice, with two Fed policymakers on Thursday saying they'd be comfortable with leaving interest rates near zero even if inflation rises to levels not seen on a sustained basis in some 30 years.
NEW YORK The Federal Reserve's understanding of the relationship between employment and inflation has shifted and determining when to raise interest rates will depend more on the trajectory of inflation than the exact level, Atlanta Fed President Raphael Bostic said on Thursday.
U.S. business activity and employment ticked up through late August, the Federal Reserve said on Wednesday, but economic growth was generally sluggish as COVID-19 hotspots hampered reopening efforts that fueled an early-summer rebound.