Mar 12 Federal government moves urgently to avert potential banking crisis By Ken Sweet, Christopher Rugaber, Chris Megerian, Cathy Bussewitz, Associated Press The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly. Continue reading
Mar 10 U.S. economy adds 311,000 jobs in February despite Fed’s rate hikes By Chris Rugaber, Associated Press America's employers added a substantial 311,000 jobs in February, fewer than January's huge gain but easily enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation. Continue reading
Mar 08 Powell says ‘no decision’ on the Federal Reserve’s next move on interest rates By Christopher Rugaber, Associated Press Federal Reserve Chairman Jerome Powell stressed Wednesday that the central bank's policymakers have yet to decide how large an interest rate hike to impose at its next meeting in two weeks in its drive to defeat high inflation. Continue reading
Mar 07 WATCH: Fed Chair Jerome Powell says increased rate hikes may continue if economy stays strong By Christopher Rugaber, Associated Press The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a… Continue reading
Feb 24 Federal Reserve rate hikes likely to cause a recession, research says By Christopher Rugaber, Associated Press Can the Federal Reserve keep raising interest rates and defeat the nation's worst bout of inflation in 40 years without causing a recession? Not according to a new research paper. Continue reading
Feb 24 Inflation gauge ticks up in January, Federal Reserve says By Paul Wiseman, Associated Press The report also showed that consumer spending rose 1.8% last month from December after falling the previous month. Continue reading
Feb 03 U.S. sees unexpected surge in hiring with 517,000 jobs added in January despite Fed hikes By Paul Wiseman, Associated Press America's employers added a stunning 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve's aggressive drive to slow growth and tame inflation with higher interest rates. Continue reading
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