Lowering interest rates may not be on the table if inflation stays elevated.

GDP grew by 1.5 percent in the second quarter following a 2.1 percent increase in the first quarter.

U.S. inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also slowed more than expected. Consumer prices ...

Stay up to date with our Up First newsletter, sent every weekday morning. Soaring gasoline prices, triggered by the U.S. war with Iran, have pushed inflation to its highest level in more than three ...

Elevated inflation partly reflects supply shocks that that have increased prices, including of energy, the Fed said.

Fed Chair Kevin Warsh told lawmakers the central bank won't tolerate persistently elevated inflation and will take the steps needed to preserve price stability.

Pakistan, July 31 -- Rising tensions between the United States and Iran have renewed concerns over higher global energy ...

The U.S. war with Iran and the resulting spike in energy prices have pushed inflation to its highest level in nearly two years. A report from the Labor Department Friday showed consumer prices in ...