Feb 10 Inflation hits 40 year high, reinforcing Fed's decision to raise interest rates By Christopher Rugaber, Associated Press Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy. Continue reading
Jan 26 Watch 8:43 The Fed aims to clamp down on inflation with rate hikes. Will it work? By PBS NewsHour The Federal Reserve is shifting its approach to the economy and monetary policy. It's a major change after holding interest rates at near zero levels. Given the pandemic, it's not without its own risks. But the Fed chairman said the… Continue watching
Jan 26 WATCH: Federal Reserve plans to raise rates as soon as March to cool down inflation By Christopher Rugaber, Associated Press The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation. Continue reading
Jan 24 Federal Reserve expected to raise interest rates in fight against inflation By Christopher Rugaber, Associated Press With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years. Continue reading
Jan 20 Federal Reserve report on digital currency centers on banks By Christopher Rugaber, Associated Press The Federal Reserve released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers. Continue reading
Jan 12 Inflation jumps 7 percent, the biggest increase since 1982, as Americans increase spending By Christopher Rugaber, Associated Press Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's… Continue reading
Jan 11 WATCH: Federal Reserve chair Jerome Powell says inflation poses a major threat to job market By Christopher Rugaber, Associated Press Federal officials have forecast three increases in the their benchmark short-term rate this year, though some economists say they envision four rate hikes in 2022. Continue reading
Dec 31 Stocks notch big yearly gain despite ending 2021 on a weak note By Alex Veiga, Associated Press A wave of consumer demand fueled by the reopening of economies pumped up corporate profits more than expected in 2021, which helped keep investors in a buying mood. Continue reading
Dec 15 Fed will tighten credit faster and sees 3 rate hikes in 2022 amid inflationary pressure By Christopher Rugaber, Associated Press In an abrupt policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it previously announced, likely ending them altogether in March. Continue reading
Dec 15 WATCH: Jerome Powell says Federal Reserve will tighten credit amid inflation surge By Christopher Rugaber, Associated Press With inflation surging and unemployment falling, the Federal Reserve said Wednesday that it will shrink its support for the economy more quickly and expects to raise interest rates three times next year. Continue reading