Economy Mar 16 How will higher interest rates affect American finances? Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on a period of rate hikes to fight inflation.
Economy Mar 16 WATCH: Federal Reserve chair Powell gives update on federal interest rate policy The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Politics Mar 15 Federal Reserve pick Sarah Bloom Raskin withdraws nomination amid opposition Republicans argued that Raskin would use the Fed's regulatory authority to discourage banks from lending to oil and gas companies.
Politics Mar 10 U.S. inflation hits new 40-year high, jumping 7.9 percent over past year Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9 percent over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
Economy Mar 04 U.S. added 678,000 jobs in February in sign of economic health U.S. employers added 678,000 jobs in February, another solid gain that underscored the economy's robust health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.
Politics Mar 03 WATCH: Federal Reserve chair Powell says Ukraine invasion will worsen inflation Federal Reserve Chair Jerome Powell warned Thursday that Russia's invasion of Ukraine, which has already driven up oil prices, will likely further magnify the high inflation that has engulfed the U.S. economy.
Politics Mar 01 WATCH: Biden banning Russia from U.S. airspace because of Ukraine President Joe Biden announced Tuesday night in his State of the Union address that the U.S. is banning Russian flights from its airspace in retaliation for the invasion of Ukraine.
Economy Feb 25 Key inflation gauge hit 6.1 percent in January, highest since 1982 An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1 percent in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia's invasion of Ukraine.
Nation Feb 10 Inflation hits 40 year high, reinforcing Fed’s decision to raise interest rates Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy.
Economy Feb 04 U.S. employers shrug off omicron, add 467,000 jobs in January The Labor Department’s Friday report also showed the unemployment rate ticked up to 4 percent from 3.9 percent. Job gains in December were also revised much higher.