Industrial production declined unexpectedly in February, with the energy-price shock from the conflict in the Middle East expected to hamper output further.
Americans, already unhappy with the cost of living, want relief from rising fuel costs and climbing mortgage rates. Economists caution that the war’s economic fallout won’t be undone overnight.
Minutes from the Fed’s March meeting showed officials continued pushing back their expectations about when inflation might resume a decline toward their 2% goal.
Federal Reserve governor Philip Jefferson pointed to shifts in employment data that suggest the job market may no longer be weakening as it was in 2025.
An aging population and Trump’s immigration crackdown have pushed a key labor metric to a half-century low, excluding the pandemic. That has some economists nervous.
Inflation pressures facing U.S. services firms were the greatest in four years last month as the war in Iran pushed up energy prices, a survey of managers found.