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 17 Watch 4:11 News Wrap: FDA authorizes first COVID-19 vaccines for children under age 5 In our news wrap Friday, the Food and Drug Administration authorized the first COVID-19 vaccines for children under age 5, the Federal Reserve doubled down on its pledge to curb soaring inflation, former Trump adviser Peter Navarro pleaded not guilty… Continue watching
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 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 WATCH: Federal Reserve Chair Powell gives news briefing following interest rate hike By Christopher Rugaber, Associated Press The Federal Reserve on Wednesday 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… 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 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 07 Watch 4:57 News Wrap: Treasury Secretary Janet Yellen says inflation will remain high In our news wrap Tuesday, Treasury Secretary Janet Yellen told the Senate Finance Committee inflation will remain high, the Department of Homeland Security warns of potential new threats from domestic extremists, the World Bank lowered its economic outlook, Russia says… Continue watching
May 25 Fed officials signal rates may head to ‘restrictive’ levels to stabilize economy By Christopher Rugaber, Associated Press Federal Reserve officials agreed when they met earlier this month that they might have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which has reached a four-decade high. Continue reading
May 20 Watch 5:25 Investors scramble as the S&P 500 dives into bear market territory Financial markets closed out the week with yet another head-spinning day, with one of the main indexes, the S&P 500, plunging for almost three hours into bear market territory, signifying a drop of 20 percent or more from its prior… Continue watching