Jun 16 Analysis: What the Fed’s largest interest rate hike in decades means for you By D. Brian Blank, The Conversation The Fed raised interest rates the most in nearly three decades to fight stubborn inflation. A finance expert explains what’s happening, the risks and what it means for consumers. 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
Jun 14 Watch 5:23 News Wrap: FDA advisory panel recommends Moderna’s vaccine for children ages 6 to 17 By PBS NewsHour In our news wrap Tuesday, an FDA advisory panel voted to recommend that the CDC approve Moderna's vaccine for kids 6 to 17 years old, the Labor Department says wholesale prices were up 10.8 percent from a year ago, the… Continue watching
Jun 14 WATCH: President Joe Biden encourages unions at AFL-CIO convention By Darlene Superville, Josh Boak, Associated Press President Joe Biden has told the largest federation of labor unions that he's rebuilding the U.S. economy around workers. Continue reading
Jun 13 Watch 6:02 Markets plunge amid fears of sharply higher interest rates Wall Street has gone into meltdown mode over inflation fears and the possibility that higher interest rates are imminent. The Dow Jones Industrial Average, NASDAQ and the S&P 500 all fell significantly. It is now officially a bear market, down… Continue watching
Jun 11 Nationwide average for gasoline tops $5 per gallon, AAA says By Associated Press Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that. Continue reading
Jun 10 Watch 5:01 Inflation rises faster than expected, pinching pocketbooks and spooking the markets New inflation numbers out Friday show the nation's economic pain has not peaked, and is still getting worse. The U.S. Labor Department reports consumer prices rose 8.6 percent in May from a year ago, marking the biggest increase in more… Continue watching
Jun 10 Stocks tumble after inflation worsens, raising rate fears By Stan Choe, Damian J. Troise, Associated Press Stocks fell sharply on Friday following Wall Street's cold realization that inflation got worse last month, not better, as investors had been hoping. Continue reading