martin crutsinger

WASHINGTON | Trump escalates his attacks on Fed: ‘My biggest threat’

WASHINGTON — Stepping up his attacks on the Federal Reserve, President Donald Trump declared Tuesday that the Fed is “my biggest threat” because he thinks it’s raising interest rates too quickly. Trump said he doesn’t speak with Chairman Jerome Powell because of the Fed’s political independence but said. “I’m not happy with what he’s doing … Continue reading WASHINGTON | Trump escalates his attacks on Fed: ‘My biggest threat’

WASHINGTON | US retail sales edged up in September

WASHINGTON— U.S. consumer spending edged up a slight 0.1 percent in September, a disappointing performance in which rebounding auto sales were offset by weakness in other areas. But a category of retail sales that excludes volatile categories showed a much stronger 0.5 percent gain in September, a big improvement after no gain in August. The … Continue reading WASHINGTON | US retail sales edged up in September

WASHINGTON | US retail sales gain a weak 0.1 percent in August

WASHINGTON  — U.S. consumer spending edged up a slight 0.1 percent in September, a disappointing performance in which rebounding auto sales were offset by weakness in other areas. The Commerce Department said Monday that the scant gain in September followed an equally meager 0.1 percent increase in August. It was the weakest two-month performance since … Continue reading WASHINGTON | US retail sales gain a weak 0.1 percent in August

WASHINGTON | Mnuchin says Trump respects the independence of the Fed

WASHINGTON  — Treasury Secretary Steven Mnuchin says President Donald Trump respects the independence of the Federal Reserve and his recent comments were simply a reflection of the fact that he favors low interest rates. In a CNBC interview, Mnuchin says that Trump understands that the Fed is doing its job. Mnuchin praised Fed Chairman Jerome … Continue reading WASHINGTON | Mnuchin says Trump respects the independence of the Fed

WASHINGTON | US consumer prices up slight 0.1 percent in September

WASHINGTON— Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August. The Labor Department said Thursday that the September gain in its closely watched consumer price index followed a 0.2 percent rise in August. It was the smallest monthly gain since June. Inflation has been … Continue reading WASHINGTON | US consumer prices up slight 0.1 percent in September

WASHINGTON | Fed chairman defends gradual pace of rate hikes

WASHINGTON — Federal Reserve Chairman Jerome Powell said Wednesday he believes the central bank’s current pace of gradually hiking interest rates is the right policy and criticism from President Donald Trump has not altered its approach. Powell said that even with the Fed’s third hike this year, rates are at a low level that is … Continue reading WASHINGTON | Fed chairman defends gradual pace of rate hikes

WASHINGTON | US consumer spending up modest 0.3 percent in August

WASHINGTON — U.S. consumer spending edged up a moderate 0.3 percent in August, the smallest gain in six months, as purchases of cars and other durable goods fell. A key gauge of inflation slowed slightly after posting its biggest annual gain in six years. The Commerce Department said Friday that the rise in spending was … Continue reading WASHINGTON | US consumer spending up modest 0.3 percent in August

WASHINGTON | Fed seems poised to raise rates for a 3rd time this year

WASHINGTON — The Federal Reserve is set Wednesday to raise interest rates for a third time this year and possibly modify the likely direction of rates in the months ahead. The big question is whether the strong U.S. economy, which has been fueled this year by tax cuts and increased government spending, could weaken next … Continue reading WASHINGTON | Fed seems poised to raise rates for a 3rd time this year