While traditional measures are showing inflation well above the Fed's 2% target, so-called trimmed mean indicators have hit their lowest levels since the early part of the decade. Trimmed mean estimates exclude the top and bottom readings of the inflation readings in an effort to provide a clearer look at where most items are trending.

Calls for another interest rate increase are growing within the Federal Reserve as officials weigh renewed inflation risks.

The Federal Reserve Bank on Wednesday held its benchmark interest rate steady, but it “left the door open” to future rate changes “if inflation remains elevated,” said NPR. By a vote of 9-3, the bank’s rate-setting committee left short-term borrowing rates “in a range between 3.

The central bank left rates unchanged for a fifth straight meeting, holding off on an increase designed to fight rising prices even as three fed officials argued for higher rates.

Amazon stock rocketed 9% in after-hours trading on Thursday, even as the company plans to book an extra $20 billion in capital expenditures. The e-commerce giant delivered a strong second quarter propelled by AI-related growth.

Key Takeaways Amazon shares surged after the company reported earnings far above analyst expectations.Amazon Web Services revenue grew 37% to $42.2 billion, exceeding forecasts by nearly $2 billion. Amazon stock is soaring after the tech giant handily topped estimates in its latest earnings last night.

Amazon reported better-than-expected revenue and cloud growth for the second quarter. The stock shot up more than 9% in extended trading. Here's how the company did, compared with estimates from analysts polled by LSEG: Revenue in Amazon's cloud segment expanded 37% year over year during the quarter,

Amazon's North America segment grew by 16%, its fastest growth in five years. Grocery and faster delivery are boosting sales. Prime Day's shift to June also benefited results. 10 stocks we like better than Amazon › Amazon (NASDAQ:AMZN)stock was soaring on Friday after the company delivered its strongest quarterly growth in five years,

Major oil companies reported massive profits while fighting between Iran and the U.S. impeded petroleum shipments

America's biggest oil companies are reporting massive profits as the Iran war continues to disrupt global energy supplies. CBS News business contributor Javier David joins with analysis.

Analysts are expecting major oil companies to report large profits while fighting between Iran and the U.S. impeded petroleum shipments. Prices for Brent crude soared above $100 a barrel for much

Exxon and Chevron reported a combined $26.5 billion windfall for the second quarter, as many drivers struggle to afford the price of gas.

The trio of dissenters at the Federal Reserve who backed an increase in interest rates this week contend high inflation could get entrenched in the economy unless the central bank acts decisively to get prices under control.

The Federal Reserve on Wednesday chose to hold interest rates steady, though three officials voted for a hike. Kelly O'Grady explains what this means for consumers and if a rate hike could come later this year.

After one of the most unpredictable meetings in years, the Fed said Wednesday it is keeping interest rates at their current elevated levels.

The Federal Reserve left a key interest rate unchanged with three officials voting to raise interest rates. The 9-3 vote to hold rates steady, in a range of 3.5%-3.75%, shows Fed officials are at odds.