The Federal Reserve reinforced its fight against high inflation May 3 by raising its key interest rate by a quarter-point to the highest level in 16 years.

WASHINGTON — A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated in March, keeping the Fed on track to raise interest rates in May.

WASHINGTON — Americans cut their spending at retail stores and restaurants in March for the second straight month, a sign consumers are becoming more cautious.

WASHINGTON — U.S. consumer inflation eased in March, with less expensive gas and food providing some relief to households that have struggled with surging prices for nearly two years.

WASHINGTON — The Federal Reserve extended its yearlong fight against high inflation March 22 by raising its key interest rate a quarter-point.

WASHINGTON — U.S. consumer price increases eased from January to February but still indicated elevated inflation, posing a challenge for the Federal Reserve's interest rate plans.

WASHINGTON — America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.

WASHINGTON — America’s consumers rebounded in January from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in nearly two years.

WASHINGTON — The pace of consumer price increases eased again in January, the latest sign that the high inflation that has gripped Americans for two years is slowing.

WASHINGTON — The Federal Reserve extended its fight against high inflation on Feb. 1 by raising its key interest rate by a quarter-point, its eighth hike since March.