Feb 01 Here’s what the Federal Reserve interest rate hike means for you By Cora Lewis, Associated Press The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive. Continue reading
Feb 01 Watch 5:48 News Wrap: Fed raises interest rates by quarter point, says more hikes likely In our news wrap Wednesday, the Federal Reserve raised interest rates by just a quarter point and said more hikes are likely, a winter storm disrupted life across the southern U.S. for a third day, the FBI searched President Biden's… Continue watching
Feb 01 Interest rate boosted again by quarter-point as Fed signals more hikes to combat inflation By Christopher Rugaber, Associated Press 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. Continue reading
Feb 01 WATCH: Federal Reserve Chair Jerome Powell gives update after small rate hike By Chris Rugaber, Associated Press The Federal Reserve extended its fight against high inflation Wednesday by raising its key interest rate a quarter-point, its eighth hike since March. Continue reading
Jan 31 EPA uses rare veto to block Alaska copper, gold mine plan By Becky Bohrer, Patrick Whittle, Associated Press The area supports the world's largest sockeye salmon fishery. Alaskan Native tribes and environmentalists are heralding the move after a long fight against the proposed Pebble Mine. Continue reading
Jan 31 Watch 8:16 Biden’s top economic adviser on inflation, interest rates and possible recession By Amna Nawaz We're learning more this week about the strength of the economy and whether high inflation and rising interest rates are pushing it into a recession. The Federal Reserve is expected to raise interest rates by another quarter of a point… Continue watching
Jan 31 Exxon Mobil reached record profits amid high gas prices, war in Ukraine By Cathy Bussewitz, Associated Press The energy giant brought in $55.7 billion in annual profits. Continue reading
Jan 31 Stocks rise on Wall Street following signs of easing inflation By Stan Choe, Associated Press Stocks are ticking higher on Wall Street Tuesday ahead of what many investors hope will be one of the Federal Reserve’s last economy-shaking hikes to interest rates for a while. Continue reading
Jan 31 Europe shows slight economic growth in final quarter of 2022 By David McHugh, Associated Press Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Continue reading
Jan 31 IMF increases expected growth for the global economy in 2023 By Paul Wiseman, Associated Press The IMF, a 190-country lending organization, foresees inflation easing this year, a result of aggressive interest rate hikes by the Federal Reserve and other major central banks. Continue reading