The Consumer Price Index moderated considerably in June compared with a year earlier, offering relief to Americans after two years of rapid inflation.

How much more the Federal Reserve raises interest rates this year will hinge on the strength of the economy — particularly the labor market.

How much more the Federal Reserve raises interest rates this year will hinge on the strength of the economy — particularly the labor market.

Federal Reserve officials are debating how high to raise interest rates to fully wrangle inflation. The debate was in focus at their meeting last month.

Federal Reserve officials are debating how high to raise interest rates to fully wrangle inflation. The debate was in focus at their meeting last month.

Federal Reserve officials are debating how high to raise interest rates to fully wrangle inflation. The debate was in focus at their June meeting.

The Federal Reserve is monitoring “core” price increases for a hint at how inflation will develop. They slowed slightly in May.

After rapid interest rate increases, Federal Reserve officials could move to a steadily slower pace — though they aren’t ready to commit.

Home construction surged in May and prices have ticked up, even with interest rates at a 15-year high. The resilience has surprised some economists.

Jerome H. Powell, the chair of the Federal Reserve, is set to tell House lawmakers that most central bank officials expect rates to rise further.