The U.S. economy grew more slowly in the first quarter than initially reported, according to revised data released by the Commerce Department Thursday.
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Jobless Claims Rise to 215,000, Rate Holds at 4.3%
More Americans sought unemployment benefits last week, but layoffs remain low despite economic uncertainty caused by the Iran war.
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Pricey Gas Pushes Inflation to 3.8%, Highest in 3 Years
U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the war with Iran, and cementing economists' views that the Federal Reserve could hold interest rates unchanged well into next year.
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Core inflation hit an annual rate of 3.3% in April, as expected, Fed’s preferred gauge shows
The PCE price index for April was expected to show an annual inflation rate of 3.8% for all items and 3.3% for core.
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Energy inflation has been more persistent than expected, Fed's Goolsbee tells CNBC
While oil prices have recently fallen on news that a peace deal between the U.S. and Iran could come, prices are still significantly higher than before the war.
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Fed’s Kashkari tells CNBC that inflation fight takes priority as labor market is 'in decent shape'
The Minneapolis Fed President warned that persistently high inflation risks becoming embedded in consumer expectations, potentially forcing tougher policy action later.
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