CHRISTOPHER RUGABER

Economics writer

Rugaber has covered the Federal Reserve and the U.S. economy for the AP for 16 years. He is a two-time finalist for the Gerald Loeb award for business reporting.
FILE- The seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington, Feb. 5, 2018. Since Federal Reserve officials last met in July, the economy has moved in the direction they hoped to see: Inflation continues to ease, if more slowly than before, while growth remains solid and the job market cools. (AP Photo/Andrew Harnik, File)
Federal Reserve could still cut interest rates this year, but for ‘bad’ reasons
 
The Federal Trade Commission building is seen in Washington on Dec. 8, 2024. (AP Photo/Jose Luis Magana, File)
Trump fires 2 Democrats on the Federal Trade Commission, seeking more control over regulators
 
Trump names Bowman as top Federal Reserve bank regulator
 
A shopper passes by a display of large-screen televisions in a Costco warehouse Monday, Feb. 3, 2025, in east Denver. (AP Photo/David Zalubowski)
Americans increased spending tepidly last month as anxiety over the economy takes hold
 
Federal Reserve Chair Jerome Powell speaks during the annual U.S. Monetary Policy Forum, in New York, Friday, March 7, 2025. (AP Photo/Richard Drew, File)
‘Stagflation’ risk puts Federal Reserve in tricky spot as it meets this week
 
President Donald Trump speaks to reporters during a meeting with NATO Secretary General Mark Rutte at the White House in Washington, Thursday, March 13, 2025. (Pool via AP)
Whipsawed by Trump’s tariffs, the US public is getting a lot more nervous about the economy
 
Trump to name Michelle Bowman as top bank regulator at Federal Reserve, AP source says
 
A shopper checks eggs before he purchases at a grocery store in Glenview, Ill., Tuesday, Jan. 10, 2023. (AP Photo/Nam Y. Huh, File)
US inflation cooled last month, though trade war threatens to lift prices
 
The seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington, Feb. 5, 2018. (AP Photo/Andrew Harnik, File)
Explainer: What’s a recession and why is rising anxiety about it roiling markets?
 
Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee during a hearing on the Semi-Annual Monetary Policy Report, on Capitol Hill in Washington, Wednesday, Feb. 12, 2025. (AP Photo/Jose Luis Magana)
Fed Chair Powell says interest rates on hold with economic uncertainty widespread
 
Secretary of Commerce Howard Lutnick speaks with reporters after President Donald Trump addressed a joint session of Congress at the Capitol in Washington, Tuesday, March 4, 2025. (AP Photo/Ben Curtis)
Trump changes course and delays some tariffs on Mexico and Canada
 
President Donald Trump speaks to reporters as he signs executive orders in the Oval Office of the White House, Tuesday, Feb. 4, 2025, in Washington. (AP Photo/Evan Vucci)
Trump’s tariff tactics carry higher economic risks than during his first term
 
Customers wait in line for eggs at a Costco store in the Van Nuys section of Los Angeles on Wednesday, Feb. 19, 2025. (AP Photo/Richard Vogel, File)
Tariff threats and uncertainty could weigh on consumers, drag down US economy, gov’t report suggests
 
President Donald Trump listens as Elon Musk speaks in the Oval Office at the White House, Tuesday, Feb. 11, 2025, in Washington. (Photo/Alex Brandon)
Could Trump really return DOGE savings to taxpayers?
 
The Marriner S. Eccles Federal Reserve Board Building, June 19, 2015, in Washington. (AP Photo/Andrew Harnik, File)
Federal Reserve officials see risks of higher inflation ahead, support pause in rate cuts
 
(AP Illustration / Jenni Sohn)
Fed official: Need ‘dust to clear’ before deciding next moves
 
President Donald Trump listens to a question from a reporter as Commerce Secretary nominee Howard Lutnick watches after Trump signed an executive order in the Oval Office of the White House, Thursday, Feb. 13, 2025, in Washington. (AP Photo/Ben Curtis)
Trump’s reciprocal tariffs will overturn decades of trade policy
 
A table is stacked with striped lounge sets in a Costco warehouse Monday, Feb. 3, 2025, in east Denver. (AP Photo/David Zalubowski)
US retail sales plunged along with temperatures in January after a bustling holiday season
 
President Donald Trump speaks as Tulsi Gabbard is sworn in as the Director of National Intelligence in the Oval Office of the White House, Wednesday, Feb. 12, 2025, in Washington. (Photo/Alex Brandon)
The latest inflation report shows that high prices are Trump’s major economic challenge
 
Federal Reserve Board Chairman Jerome Powell testifies before the House Financial Services Committee during a hearing on the Semi-Annual Monetary Policy Report, on Capitol Hill in Washington, Wednesday, Feb. 12, 2025. (AP Photo/Jose Luis Magana)
Powell says Trump’s comments won’t affect interest rate decisions by the Fed
 
An empty shelf of free range eggs is seen at a Safeway, Monday, Jan. 27, 2025, in Seattle. (AP Photo/Lindsey Wasson)
US inflation got worse with rising prices on groceries and gasoline
 
Federal Reserve Chair Jerome Powell speaks to the Senate Banking Committee, Tuesday, Feb. 11, 2025, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)
Fed chair says bank accounts ‘safe’ despite Trump’s teardown of consumer protection agency
 
President Donald Trump, left, waves as he boards Air Force One with grandson Theodore, Ivanka Trump's son, at Palm Beach International Airport in West Palm Beach, Fla., Sunday, Feb. 9, 2025. (AP Photo/Ben Curtis)
Trump says he will announce 25% steel and aluminum tariffs Monday, and more import duties are coming
 
Russell Vought, President-elect Donald Trump's nominee to be Director, Office of Management and Budget, is sworn-in during a Senate Committee on Homeland Security and Governmental Affairs hearing for his pending confirmation on Capitol Hill, Wednesday, Jan. 15, 2025, in Washington. (AP Photo/Rod Lamkey, Jr.)
Trump administration orders consumer protection agency to stop work, closes building
 
Shoppers pass by a dining room set on display in a Costco warehouse Thursday, Jan. 23, 2025, in Sheridan, Colo. (AP Photo/David Zalubowski)
US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction
 
Federal Reserve Chairman Jerome Powell speaks during a news conference after the Federal Open Market Committee meeting, Wednesday, Jan. 29, 2025, at the Federal Reserve in Washington. (AP Photo/Jacquelyn Martin)
Fed hold rates steady, sees inflation as ‘elevated,’ as Powell declines comment on Trump
 
The Marriner S. Eccles Federal Reserve Board Building in Washington, Nov. 18, 2024. (AP Photo/Jose Luis Magana, File)
Federal Reserve expected to stand pat on rates even as Trump demands cuts
 
El logotipo de TikTok en un teléfono en San Francisco, el viernes 17 de enero de 2025. (AP Foto/Jeff Chiu)
New bid for TikTok from Perplexity AI could give US government 50% stake
 
Cristina Cabrera works at El Mexicano grocery store in Worthington, Minnesota. Saturday, Jan. 11, 2025. Cabrera said she migrated to the U.S. three years ago from Guatemala's San Marcos department. (AP Photo/Abbie Parr)
Trump says he will ‘demand’ that interest rates come down, but it won’t be that simple
 
The Marriner S. Eccles Federal Reserve Board Building in Washington, Nov. 18, 2024. (AP Photo/Jose Luis Magana, File)
Federal Reserve says it will leave climate change organization
 
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