Jun 22 WATCH: Fed chair Powell says rate hikes will be decided 'meeting by meeting' By Chris Rugaber, Associated Press 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. Continue reading
Jun 22 Sri Lanka prime minister says economy 'has completely collapsed' By Krishan Francis, Associated Press Sri Lanka's prime minister says its debt-laden economy has "collapsed" after months of shortages of food, fuel and electricity. Continue reading
Jun 16 Watch 5:12 News Wrap: European leaders visit Kyiv, pledge to back Ukraine's EU bid In our news wrap Thursday, leaders of France, Germany, Italy and Romania visited Kyiv and pledged to back Ukraine's bid to join the European Union, the World Health Organization reports COVID deaths are rising around the globe, the Senate voted… Continue watching
Jun 14 Stocks up and down a day after Wall Street sinks into a bear market By Stan Choe, Associated Press Wall Street is wobbling Tuesday in its first trading after tumbling into a bear market on worries central banks will clamp the brakes too hard on the economy. Continue reading
Jun 14 WATCH: President Joe Biden encourages unions at AFL-CIO convention By Darlene Superville, Josh Boak, Associated Press President Joe Biden has told the largest federation of labor unions that he's rebuilding the U.S. economy around workers. Continue reading
Jun 10 Inflation, pandemic has small businesses on edge this summer By Mae Anderson, Associated Press Consumers likely have a lot of pent-up demand after more than two years of the pandemic. But they’re also facing some significant financial headwinds because of the highest inflation in decades. And COVID-19 remains a looming presence. Continue reading
Jun 07 WATCH: Treasury Secretary Yellen testifies on President Biden's budget in Senate hearing By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell "could have used a better word" than transitory when describing the expected run of inflation in the U.S. economy. Continue reading
Jun 03 WATCH: Biden hails 'historically robust' May jobs report as hiring remains strong By Christopher Rugaber, Associated Press President Joe Biden hailed the May jobs report numbers Friday, calling them "historically robust" and saying they are one of the signs of a "healthy economy."… Continue reading
May 25 Fed officials signal rates may head to 'restrictive' levels to stabilize economy By Christopher Rugaber, Associated Press Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high. Continue reading
May 12 Senate confirms Jerome Powell for second term as Fed Chair By Christopher Rugaber, Associated Press The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades. Continue reading