The economic consensus of the moment is that higher prices are the same as inflation, and the Fed is the only governmental entity situated to bring down higher prices. It’s a dangerous consensus. Prices are how a market economy organizes itself.

Republicans, who got elected because of economic woes, claim that Democrats talking about inflation now is an “embarrassing display of fake outrage."

Inflation fell a tenth of a percentage point to 2.5% for the year ending in January, the Bureau of Labor Statistics reported Friday in an update to the Federal Reserve’s preferred gauge. The decline in the personal consumption expenditures index from 2.

The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another potential red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years.

Treasury Secretary Scott Bessent said Sunday that President Donald Trump's proposed tariffs are unlikely to raise inflation, in part because China will "eat any tariffs that go on."

Federal Reserve officials at a meeting last month pointed to rising risks that inflation could worsen, a key reason they kept their benchmark interest rate unchanged

SEATTLE — The Trump Administration's tariff strategy is expected to hit Washington consumers hard, affecting everything from groceries to home construction. Proposed 25% tariffs on goods from Canada and Mexico are due to take effect March 4, in addition to tariffs on the European Union already announced.

Recent surveys showing a rise in consumer inflation expectations mean the U.S. central bank needs to keep its focus on ensuring price pressures are fully contained, Kansas City Federal Reserve President Jeff Schmid said on Thursday,