Jul 25 As inflation soars, the Federal Reserve is set to announce another interest rate hike By Christopher Rugaber, Associated Press Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot. Continue reading
Jul 21 Average national 30-year mortgage rate hits 5.54% By Matt Ott, Associated Press Average long-term U.S. mortgage rates are ticking higher this week in a rapidly cooling housing market as the Federal Reserve gears up for what could be yet another bump to its benchmark interest rate. Continue reading
Jul 13 Why the U.S. inflation surge is accelerating, and when it may ease By Paul Wiseman, Associated Press Inflation's relentless surge didn't merely persist in June. It accelerated. For the 12 months ending in June, the government's consumer price index rocketed 9.1 percent, the fastest year-over-year jump since 1981. Continue reading
Jul 06 Federal Reserve signals further hikes in interest rates to ‘restrictive’ levels By Christopher Rugaber, Associated Press Federal Reserve officials were concerned at their meeting last month that consumers were starting to anticipate higher inflation, and they signaled that much higher interest rates could be needed to restrain it. Continue reading
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 19 Watch 3:32 News Wrap: Ethnic mass killing in Ethiopia claims more than 200 lives In our news wrap Sunday, an ethnic mass killing in Ethiopia has claimed the lives of more than 200 Amhara people, Treasury Secretary Janet Yellen expects an economic slowdown but not necessarily a recession, voters in Colombia head to the… Continue watching
Jun 16 President Biden says a recession is ‘not inevitable’ By Josh Boak, Associated Press President Joe Biden says the American people are "really, really down" after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are hitting family budgets. Continue reading
Jun 16 Wall Street tumbles again after brief reprieve By Stan Choe, Associated Press Analysts had warned of more big swings given deep uncertainties about whether the Federal Reserve and other central banks can tiptoe the narrow path of hiking interest rates enough to slow high inflation but not so much that they cause… Continue reading
Jun 15 Watch 5:36 Federal Reserve implements highest interest rate hike in decades to combat inflation By Paul Solman, Courtney Norris, Tommy Walters The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome… Continue watching
Jun 15 Federal Reserve attacks inflation with its largest rate hike since 1994 By Chris Rugaber, Associated Press The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would… Continue reading