U.S. economy

The Federal Reserve is projecting higher inflation this year than it had previously forecast, but says prices will cool more next year.

Federal Reserve Chairman Jerome Powell says the economy continues its recovery, hinting the central bank could dial back its extraordinary efforts to prop up the economy later this year.

Conventional wisdom (and some logic) says that a bad economy will hurt President Trump in November. But growing polarization may be severing the tie between economic health and voters' choices.

The Commerce Department says the U.S. economy grew 2.3% last year. That's slower than the previous year and well below the Trump administration's forecast.

U.S. employers added 136,000 jobs in September — a sign of continued resilience in the labor market amid growing signals that the economy is losing steam. The jobless rate was the lowest since 1969.

The gap between the richest and the poorest U.S. households is now the largest it's been in the past 50 years, the U.S. Census Bureau says.