Comments by Fed governor Christopher Waller add to a growing debate over how far and fast the central bank should push up borrowing costs to combat high inflation. 4 min read

Pools, restaurants and camps cut operations even though demand is back. Labor costs are higher and so are prices. “What, no one is applying?”8 min read

An economic slowdown leads some economists to question how closely the flow of official data will stick to economic reality as the rest of the year progresses. 7 min read

The U.S. employment report for May caps a full week of economic data.2 min read

The tight labor market has made it easier for workers to find jobs and earn raises. But the increased leverage hasn’t translated into a change in the relative positions of employees and employers. 4 min read

The unemployment rate hit record lows in 17 states in the Midwest, South and Mountain West in April, a sign of a labor market where there are too few workers to keep pace with consumer spending and employer demand.5 min read

U.S. households boosted spending for a fourth straight month in April, but the savings rate fell to the lowest in 14 years, suggesting many Americans are tapping savings to offset cost increases from inflation.6 min read

Consumer prices rose 6.3% in April from a year earlier, down from 6.6% in March, as measured by the Commerce Department’s personal-consumption expenditures price index, but remained near a four-decade high. 3 min read

The average rate on a 30-year fixed mortgage fell to 5.10%, Freddie Mac said, its lowest level in a month after earlier hitting heights unseen in more than a decade.2 min read

Initial jobless claims, a proxy for layoffs, decreased to 210,000 last week and remain near 2019 prepandemic levels, when the job market was also historically tight.2 min read

U.S. central bankers at this month’s meeting were in agreement on need for further half-point increases in June and July.5 min read