Economy Mar 12 Federal government moves urgently to avert potential banking crisis The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.
Politics Mar 10 WATCH: Biden hails economic progress after U.S. added 311,000 jobs in February America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation.
Arts Mar 10 Robert Blake, actor acquitted in wife’s killing, dies at 89 An Emmy-winning actor whose career triumphs were later overshadowed by a trial in which he was acquitted of killing his wife, Robert Blake has died at age 89.
Politics Mar 08 Powell says ‘no decision’ on the Federal Reserve’s next move on interest rates Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank's policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation.
Politics Mar 07 WATCH: Fed Chair Jerome Powell says increased rate hikes may continue if economy stays strong The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a…
Economy Feb 24 Federal Reserve rate hikes likely to cause a recession, research says Can the Federal Reserve keep raising interest rates and defeat the nation's worst bout of inflation in 40 years without causing a recession? Not according to a new research paper.
Nation Feb 15 American consumers retail sales jump as Americans defy inflation and rate hikes America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in almost two years, underscoring the economy's resilience in the face of higher prices and multiple interest…
Economy Feb 07 Powell predicts ‘significant’ inflation drop but job market strength means more rate hikes Federal Reserve Chair Jerome Powell said Tuesday that last week's blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a "significant decline" in inflation this year.
Economy Feb 01 Interest rate boosted again by quarter-point as Fed signals more hikes to combat inflation The central bank’s latest move put its benchmark short-term rate in a range of 4.5 percent to 4.75 percent, its highest level in about 15 years.
Economy Jan 31 U.S. wage growth slowed in the last quarter of 2022 Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022 which could help reassure the Federal Reserve that wage gains won't fuel higher inflation.