Nov 17 Federal Reserve official suggests substantial rate hikes may be needed By Christopher Rugaber, Associated Press The Federal Reserve may have to raise its benchmark interest rate much higher than many people expect to get inflation under control, said James Bullard, who leads the Federal Reserve Bank of St. Louis. Continue reading
Nov 02 Federal Reserve unleashes another big rate hike but hints at a pullback soon By Christopher Rugaber, Associated Press It was the Fed's sixth rate hike this year — a streak that has made mortgages and other loans increasingly expensive and heightened the risk of a recession. Continue reading
Nov 02 WATCH: Federal Reserve Chair Jerome Powell faces questions after interest rate decision By Christopher Rugaber, Associated Press The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time to fight high inflation but also hinted that it could soon reduce the size of its rate hikes. Continue reading
Oct 27 U.S. mortgage rates hit 20-year high, top 7 percent after Fed hikes By Matt Ott, Alex Veiga, Associated Press Average long-term U.S. mortgage rates topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years. Continue reading
Oct 14 How inflation spread across different sectors, making it harder to tame By Christopher Rugaber, Associated Press What keeps driving inflation so high? The answer, it seems, is nearly everything. Continue reading
Oct 13 Costs of housing and services accelerated U.S. inflation in September By Christopher Rugaber, Associated Press The jump in inflation last month is a sign that the Fed’s five rate hikes this year have so far done little to cool inflation pressures. Continue reading
Oct 07 WATCH: President Biden praises U.S. jobs data, but seeks ‘stable growth’ By Associated Press President Joe Biden hailed new job numbers Friday, saying the slowdown in job growth shows the United States is transitioning to "more stable growth," although he warns that there is "still a lot of work" to be done. Continue reading
Oct 07 Solid U.S. hiring in September could mean more big Fed hikes By Paul Wiseman, Associated Press America's employers slowed their hiring in September but still added 263,000 jobs, a solid figure that will likely keep the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation. Hiring fell from 315,000 in… Continue reading
Oct 04 U.S. job openings fell in August, potentially calming inflation By Christopher Rugaber, Associated Press The number of available jobs in the U.S. plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation. Continue reading
Oct 03 Wall Street soars to best day since summer By Damian J. Troise, Stan Choe, Associated Press The S&P 500 rose 2.6 percent Monday, the latest swing for a scattershot market that's been mostly falling this year on worries about a possible global recession. Continue reading