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Jerome Powell, the Fed chair, said the central bank is prepared to raise rates more quickly and higher if price pressures fail to fade.

Gas prices cooled down slightly in April but were still at elevated levels, while oil prices remain volatile.

Layoffs are up only minimally, and employers may be averse to shedding workers after experiencing the challenges of rehiring.

The Treasury secretary is traveling to Warsaw, Brussels and Bonn, Germany, this week at an uncertain time for the global economy.

The market has been producing double-digit returns for investors, even at moments of great national strife. But the party has ended and it may be a long time before it begins again.

The traffic was robust in March and April, reflecting the time it takes for sanctions to come into effect and an enduring profit motive for trading Russian energy.

A steep sell-off that gained momentum this week starkly illustrated the risks of the experimental and unregulated digital currencies.

Jerome Powell, whom the Senate confirmed to a second term on Thursday, said allowing rapid inflation to persist would be more painful.

The central bank has made few strides in hiring a more racially diverse staff of economics doctorates. Entry-level jobs are a different story.