The Labor Department said Wednesday that its producer price index rose 0.2 percent last month, the first increase since September. Gasoline and other energy prices fell, while food prices jumped 0.7 percent after dropping sharply in December.
The index measures the cost of goods before they reach consumers. Wholesale prices are what manufacturers and farmers receive for their products.
Fed minutes show concerns about bond purchases
WASHINGTON (AP) â¿¿ Several Federal Reserve policymakers suggested last month that the Fed might have to scale back its efforts to keep borrowing costs low for the foreseeable future.
Minutes of the Fed's Jan. 29-30 policy meeting released Wednesday showed that some officials worried about the Fed's plan to keep buying $85 billion in bonds each month until the job market has improved substantially. They expressed concern that the continued purchases could eventually escalate inflation, unsettle financial markets or cause the Fed to absorb losses once it begins selling its investments.
Source: Boeing to propose 787 battery fix to FAA
WASHINGTON (AP) â¿¿ Boeing has developed a plan that it intends to propose to federal regulators to temporarily fix problems with the 787 Dreamliner's batteries that have kept the planes on the ground for more than a month, a congressional official told The Associated Press on Wednesday.
Boeing Commercial Airplanes CEO Ray Conner is expected to present the plan to Michael Huerta, head of the Federal Aviation Administration, in a meeting on Friday, the official said. The official spoke on condition of anonymity because he wasn't authorized to speak publicly.
Macy's, Penney spar in court over rights to sell Martha Stewart products
NEW YORK (AP) â¿¿ Let the pots and pans fly. Two of the nation's biggest department stores â¿¿ J.C. Penney and Macy's â¿¿began to duke it out in New York State Supreme Court over the right to sell Martha Stewart merchandise.