The Federal Reserve's preferred inflation gauge, known as the personal consumption expenditures index, rose in December in line with economists' expectations.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

Federal Reserve governor Michelle Bowman said she still expects declining inflation to allow further interest rate cuts this year, but feels rising wages, buoyant financial markets, geopolitical risks,

The Federal Reserve’s preferred inflation gauge moved even higher in December, driven in part by rising food and energy prices. However, a closely watched measurement of underlying inflation trends indicated some progress in the fight to rein in price hikes.

Fresh tariffs amid high inflation are making the Fed’s job uniquely difficult and feeding uncertainty about what to expect for interest rates this year.

U.S. prices increased in December while consumer spending surged, suggesting that the Federal Reserve could delay cutting interest rates for some time this year.

The Federal Reserve's favorite inflation gauge is due out this morning. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

Stock futures are higher Friday morning as investors respond to a steady stream of earnings reports and await the release of a closely followed inflation indicator.

Progress on inflation was “noticeably” slower last year than in 2023, and upside risks to higher price pressures remain, and therefore the U.S. central bank should adopt a cautious and gradual approach to policy, Federal Reserve Governor Michelle Bowman said on Friday.

Oil may be exempt from new tariffs despite President Trump's threats due to the complex nature of the U.S. energy industry. Initial jobless claims fell unexpectedly, indicating a stronger labor market, with continuing claims and the insured unemployment rate also showing positive trends.

The Federal Reserve's favorite inflation gauge is due out this morning. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.