Christopher Rugaber

Stay informed with Christopher Rugaber’s coverage and analysis for Fortune.

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This Tuesday, Oct. 12, 2021, photo shows a Social Security card in Tigard, Ore. (AP Photo/Jenny Kane)

Millions of Social Security recipients will get a 5.9% boost in benefits next year

By Ricardo Alonso-Zaldivar, Christopher Rugaber, and others

FILE – People shop at a Johnny Was clothing store in the luxury wing at the American Dream shopping mall in East Rutherford, N.J. on Friday, Sept. 17, 2021. The U.S. services sector, where most Americans work, grew again in September even as supply chain troubles persisted. The Institute for Supply Management reported Tuesday, Oct. 5, 2021 that its monthly survey of service industries rose to a reading of 61.9, following August’s reading of 61.7. (AP Photo/Ted Shaffrey, file)

Inflation matches 13-year-high in September, outpacing workers’ pay gain

By Christopher Rugaber and The Associated Press

In this July 21,2021 photo, a consumer shops at a retail store in Morton Grove, Ill. U.S. consumer spending accelerated in August despite the surge in COVID cases, while the additional demand combined with supply shortages kept inflation high. (AP Photo/Nam Y. Huh)

U.S. consumer spending went up 0.8% in August despite inflation and surging COVID cases

By Christopher Rugaber and The Associated Press

Federal Reserve Chairman Jerome Powell testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act on Capitol Hill, Tuesday, Sept. 28, 2021 in Washington. Powell is defending the ultra-low interest rate policies he has pursued since the pandemic decimated the economy more than 18 months ago. He acknowledges, however, that inflation has stayed higher for longer than he expected. (Kevin Dietsch/Pool via AP)

Fed Reserve chair defends low-interest rate policies, says inflation will remain high

By Christopher Rugaber and The Associated Press

Federal Reserve Bank Of Dallas President Robert Kaplan

Two Fed officials to step down after criticism over stock trades

By Christopher Rugaber and The Associated Press

Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston, listens during a Hutchins Center on Fiscal and Monetary Policy event at the Brookings Institution in Washington, D.C., U.S., on Monday, Jan. 8, 2018. The event was entitled Should the Fed Stick with the 2 Percent Inflation Target or Rethink It. Photographer: Andrew Harrer/Bloomberg

Boston Federal Reserve president Eric Rosengren retires early citing health reasons

By Christopher Rugaber and The Associated Press

Fed chair Jerome Powell

Fed chair Powell hears from businesses on supply-chain challenges and worker shortage

By Christopher Rugaber and The Associated Press

Marriott human resources recruiter Mariela Cuevas, left, talks to Lisbet Oliveros, during a job fair at Hard Rock Stadium, Friday, Sept. 3, 2021, in Miami Gardens, Fla. The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs. Applications for jobless aid rose from 312,000 the week before, the Labor Department said Thursday, Sept. 16. (AP Photo/Marta Lavandier)

Unemployment claims rise to 332,000 from a pandemic low

By Christopher Rugaber and The Associated Press

Federal Reserve Board Chair Jerome Powell testifies before Senate Banking, Housing, and Urban Affairs hearing to examine the Semiannual Monetary Policy Report to Congress, on Capitol Hill in Washington Thursday, July 15, 2021.(AP Photo/Jose Luis Magana)

Federal Reserve’s plans to dial back on support are complicated by inflation and a COVID surge

By Christopher Rugaber and The Associated Press

A member of the wait staff works between tables at Four Corners restaurant as people dine outdoors in Chapel Hill, N.C., Friday, April 16, 2021. Prices for U.S. consumers rose in July at the slowest pace since February, a sign that Americans could gain some relief after four months of sharp increases that had elevated inflation to its fastest pace in more than a decade. (AP Photo/Gerry Broome)

U.S. consumer prices rose at a slower pace in July

By Christopher Rugaber and The Associated Press

A hiring sign is shown in Downers Grove, Ill., Thursday, June 24, 2021. The number of Americans collecting unemployment benefits slid last week, another sign that the job market continues to recover rapidly from the coronavirus recession.<br />
Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday, July 29, 2021. (AP Photo/Nam Y. Huh, File)

Worker pay rises strongly as businesses compete to attract talent

By Christopher Rugaber and The Associated Press

Federal Reserve Board Chair Jerome Powell testifies before Senate Banking, Housing, and Urban Affairs hearing to examine the Semiannual Monetary Policy Report to Congress, on Capitol Hill in Washington Thursday, July 15, 2021.(AP Photo/Jose Luis Magana)

Federal Reserve credits improving economy as rates are held near zero

By Christopher Rugaber and The Associated Press

A hiring sign hangs in the window of a Taco Bell in Sacramento, Calif., Thursday, July 15, 2021. Hiring in California slowed down in June as the unemployment rate held steady at 7.7% according to new numbers released on Friday, July 16, 2021 by the Employment Development Department. California gained 73,000 jobs in June, ending the state’s streak of four consecutive months of adding 100,000 jobs or more. But experts say the state is still struggling from a workforce shortage as California has added back just over half of the 2.7 million jobs it lost at the start of the pandemic.(AP Photo/Rich Pedroncelli))

Unemployment claims rise to 419,000 from a pandemic low

By Christopher Rugaber and The Associated Press

Federal Reserve Board Chairman Jerome Powell testifies on Capitol Hill, Tuesday, June 22, 2021, during a House Coronavirus Subcommittee hearing on the Federal Reserves response the the Coronavirus Pandemic.

Fed Chair: inflation will remain ‘elevated’ in coming months

By Christopher Rugaber and The Associated Press

Hold For Business—Consumer Prices—A sign displays the price for shirts as a shopper peruses the offerings at a Costco warehouse in this photograph taken Thursday, June 17, 2021, in Lone Tree, Colo. (AP Photo/David Zalubowski)

U.S. consumer prices jump to the highest since 2008, sparking long term inflation concerns

By Christopher Rugaber and The Associated Press