Politics May 12 Senate confirms Jerome Powell for second term as Fed Chair By Christopher Rugaber, Associated Press
Economy May 05 Stocks slump 3 percent as worries grow over higher interest rates Stocks are slumping on Wall Street, erasing a rally from a day earlier, as markets assess the looming fallout from the Federal Reserve's stepped-up fight against inflation. By Damian J. Troise, Alex Veiga, Associated Press
Economy May 04 How higher Federal Reserve rates stand to affect Americans’ finances Economists foresee the fastest pace of rate increases since 1989. The result could be much higher borrowing costs for households well into the future as the Fed fights the most painfully high inflation in four decades. By Christopher Rugaber, Associated Press
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. By Christopher Rugaber, Associated Press
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. By Christopher Rugaber, Associated Press
May 02 Federal Reserve poised to fight inflation with fastest rate hikes in decades By Christopher Rugaber, Associated Press 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. Continue reading
Apr 29 A key inflation gauge jumped 6.6 percent in March, possibly nearing a peak By Christopher Rugaber, Associated Press 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… Continue reading
Apr 15 Biden nominates Michael Barr as Federal Reserve vice chair By Josh Boak, Paul Wiseman, Associated Press President Joe Biden says he plans to nominate Michael Barr to be the Federal Reserve's vice chairman of supervision. Continue reading
Apr 06 Federal Reserve signals more aggressive steps to fight inflation By Christopher Rugaber, Associated Press 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. Continue reading
Mar 29 Labor Department says U.S. job openings remain at historic highs By Christopher Rugaber, Associated Press 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. Continue reading