Economy May 04 Federal Reserve raises key rate by a half-point in bid to tame inflation The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by an sizable half-percentage point.
Politics May 04 WATCH: Federal Reserve Chair Jerome Powell gives update as Fed announces interest rate hike The Fed also announced that it will start reducing its huge $9 trillion balance sheet, made up mainly of Treasury and mortgage bonds. Reducing those holdings will have the effect of further raising loan costs throughout the economy.
Economy May 02 Federal Reserve poised to fight inflation with fastest rate hikes in decades The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow, which will compound Americans' financial strains and likely weaken the economy.
Politics Apr 29 Biden, Mexican president discuss migration, other issues President Joe Biden discussed efforts to address the unprecedented flow of migration along the U.S. southern border in a Friday afternoon call with Mexican President Andrés Manuel López Obrador.
Economy Apr 29 A key inflation gauge jumped 6.6 percent in March, possibly nearing a peak An inflation gauge closely tracked by the Federal Reserve surged 6.6% in March compared with a year ago, the highest 12-month jump in four decades and further evidence that spiking prices are pressuring household budgets and the health of the…
Politics Apr 28 U.S. economy shrinks first time in two years but consumer and business spending strong The U.S. economy shrank last quarter for the first time since the pandemic recession struck two years ago, contracting at a 1.4 percent annual rate, but consumers and businesses kept spending in a sign of underlying resilience.
Politics Apr 28 WATCH: Senate debates bill to help build domestic technology supply chains amid shrinking economy The debate comes amidst news that the U.S. economy shrank in the first three months of the year, and faces threats from high inflation and rising interest rates.
Economy Apr 06 Federal Reserve signals more aggressive steps to fight inflation Federal Reserve officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses.
Economy Mar 29 Labor Department says U.S. job openings remain at historic highs Job openings stayed at a near-record level in February, little changed from the previous month, continuing a trend that Federal Reserve officials see as a driver of inflation.
Economy Mar 21 Powell says the Federal Reserve will hike further and faster if necessary His remarks caused a sharp drop in the stock market with its implication that potentially much higher rates could be on the way for mortgages, auto loans, credit cards and other consumer and business borrowing.