Gasoline prices are surging ahead of Labor Day, with AAA predicting travelers will face the highest pump prices on record for the holiday weekend amid ongoing conflict in the Strait of Hormuz. The national average for regular gasoline reached $4.14 a gallon Thursday, up 4 cents from a week earlier, according to AAA data. Diesel averaged…
Federal Reserve Chairman Kevin Warsh reaffirmed the central bank’s commitment to lowering consumer prices, acknowledging that inflation remains too high in a highly anticipated speech in Jackson Hole, Wyoming. During remarks at the Fed’s annual conference, Warsh said that recent government data shows inflation has cooled, but “they do not tell me that underlying trends…
Washington — Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said Sunday that the tariff fight with Canada could extend U.S. inflation, should the tense trade dynamic that came to a head in recent days between the historically allied countries continue. “The longer there’s back and forth on the trade front, just like…
On this “Face the Nation with Margaret Brennan” broadcast, moderated by Margaret Brennan: Neel Kashkari, Minneapolis Fed president and CEO Dr. Mehmet Oz, Centers for Medicare & Medicaid Services administrator Dr. Scott Gottlieb, former FDA commissioner Rep. Byron Donalds, Republican of Florida and candidate for governor Rep. Seth Moulton, Democrat of Massachusetts and…
The following is the transcript of an interview with Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis that aired on “Face the Nation with Margaret Brennan” on Aug. 23, 2026. MARGARET BRENNAN: For more on what’s next for the American economy, we’re joined by Neel Kashkari, President and CEO of the…
American workers’ wages are once again failing to keep up with inflation — a painful financial déjà vu of the pandemic years. The repeat situation may feel even more acute given that many workers are still catching up from the 2021-2022 inflationary bout, when companies gave workers only moderate pay raises that fell short of four-decade-high price…
The torrent of corporate spending on artificial intelligence in the U.S. is driving up consumer prices, working against efforts to cool inflation. AI requires enormous computing power, driving demand for the semiconductors that enable it. Rising chip costs are also prompting electronics manufacturers to raise prices on smartphones, computers, software and other tech accessories. Consumers are…
LAHORE: Jamaat-i-Islami Pakistan (JI) has decided to intensify its campaign against the petroleum levy and inflation, announcing simultaneous sit-ins in all four provincial capitals on August 16 to press the government to withdraw the levy. The decision was taken after extensive deliberations at a special meeting of JI’s central and provincial office-bearers, chaired by party…
The Consumer Price Index rose at an annual rate of 2.4% in February, unchanged from the prior month and representing a cooler pace than economists had forecast. The Labor Department data captures the period before the Iran war broke out in late February. Since then, oil prices have surged, driving inflation concerns among investors. “Inflation was starting to ease in…
Inflation across the U.S. accelerated in May as the shock to global energy supplies from the Iran war continued to push prices higher. The Consumer Price Index rose at an annual rate of 4.2%, up from 3.8% in the prior month and marking the highest level since April 2023. By the numbers Economists polled by financial…
