Jul 28 Your guide to Congress's new inflation-fighting package By Lisa Mascaro, Associated Press What started as a $4 trillion effort during President Joe Biden's first months in office to rebuild America's public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package. Continue reading
Jul 28 WATCH: President Biden calls inflation-fighting agreement a 'godsend' for U.S. families By Lisa Mascaro, Alan Fram, Associated Press Schumer rallied Democrats during a closed-door morning meeting and Manchin called the package a “win-win” at his own press briefing. An expansive agreement had eluded them for months. Continue reading
Jul 27 Watch 6:48 Federal Reserve raises interest rates amid stubbornly high prices and recession concerns By Paul Solman, Tommy Walters, Ryan Connelly Holmes The Federal Reserve raised interest rates significantly again Wednesday in a bid to put the brakes on inflation. The economy is no longer running nearly as hot as it did last year, but Fed Chair Jerome Powell said it was… Continue watching
Jul 27 How the latest Federal Reserve rate hike affects your finances By Christopher Rugaber, Associated Press The Fed's latest hike, its fourth since March, will further magnify borrowing costs for homes, cars and credit cards, though many borrowers may not feel the impact immediately. Continue reading
Jul 27 Federal Reserve unleashes another big rate hike in bid to curb inflation By Christopher Rugaber, Associated Press By raising borrowing rates, the Fed makes it costlier to take out a mortgage or an auto or business loan. Consumers and businesses then presumably borrow and spend less, cooling the economy and slowing inflation. Continue reading
Jul 27 WATCH: Federal Reserve imposes another big rate hike to fight inflation By Christopher Rugaber, Associated Press The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. Continue reading
Jul 26 Watch 8:38 Federal Reserve risks recession by raising interest rates to fight inflation The Federal Reserve is expected to raise interest rates again this week by three-quarters of a point. Fed Chair Jerome Powell has made it clear he wants to substantially curb the rate of inflation. But there are serious concerns the… Continue watching
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 25 Yellen downplays U.S. recession risk as economic reports loom By Christopher Rugaber, Associated Press Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Continue reading
Jul 21 High mortgage rates, prices discourage buyers and chill housing market By Ken Sweet, Michael Casey, Alex Veiga, Associated Press Sales of previously occupied homes have fallen for five straight months, during what is generally the busiest time of year in real estate. Continue reading