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Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed is determined to fight inflation with more sharp interest rate hikes, which will likely cause pain for Americans in the form of a weaker economy and job losses.
America's employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to cool the economy and slow price increases.
Federal Reserve Chair Jerome Powell underscored the Fed's determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank's fight against surging prices could tip the economy into recession.
The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would…
In a fresh sign of his growing concerns about inflation, Chair Jerome Powell said Wednesday that the Federal Reserve can't be sure that price increases will slow in the second half of next year as many economists expect.
Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell are expected to testify at a hearing on Tuesday on the state of the nation's pandemic recovery.
The Biden administration is considering a bump in the corporate tax rate to 28 percent, up from the current 21 percent, after the Trump administration cut it from 35 percent. Tax increases on higher-income Americans are also being considered.
Millions of Americans have been jobless since the viral pandemic ripped through the U.S. economy in March, triggering a deep recession and causing widespread unemployment.
Joe Biden and fellow Democrats spun an assortment of facts to their benefit in their national convention. Meanwhile President Donald Trump flooded the zone with falsehoods, some so apparent that anyone with access to the internet could see the folly…
At least 32 states will provide the extra federal benefits by the end of this week -- nearly a month after businesses began shutting down across the country because of the coronavirus outbreak.
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