Oct 27 U.S. mortgage rates hit 20-year high, top 7 percent after Fed hikes By Matt Ott, Alex Veiga, Associated Press Average long-term U.S. mortgage rates topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame inflation not seen in some 40 years. Continue reading
Oct 13 Costs of housing and services accelerated U.S. inflation in September By Christopher Rugaber, Associated Press The jump in inflation last month is a sign that the Fed’s five rate hikes this year have so far done little to cool inflation pressures. Continue reading
Sep 21 Watch 4:01 News Wrap: House votes on reform to electoral vote count, malaria outbreaks in Pakistan In our news wrap Wednesday, the House approved a bill to block future attempts at subverting presidential elections and close loopholes in the law, medical workers struggled to contain malaria outbreaks as mosquitoes breed in the wake of flooding in… Continue watching
Sep 19 Interest rates likely to increase as Fed signals more hikes ahead By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell bluntly warned in a speech last month that the Fed's drive to curb inflation by aggressively raising interest rates would "bring some pain."… Continue reading
Aug 26 Watch 6:46 Why the Fed plans to keep aggressively fighting inflation even if it leads to job loss By William Brangham Federal Reserve Chair Jerome Powell delivered a stark message Friday on inflation, warning that more interest rate hikes are coming and they're going to take a toll. Those statements came during the Fed's annual economic symposium in Jackson Hole, Wyoming. Continue watching
Aug 26 Dow Jones drop 3 percent after Fed Chair Powell warns interest rates to stay high By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press Stocks closed sharply lower after the head of the Federal Reserve dashed Wall Street's hopes that it may soon ease up on high interest rates in its effort to tame inflation. Continue reading
Aug 26 Inflation eased in July as consumer prices and income rose By Paul Wiseman, Associated Press Inflation eased last month as energy prices tumbled, according to a report closely watched by the Federal Reserve. Continue reading
Aug 17 July retail sales were flat, as customers weather inflation By Paul Wiseman, Anne D'Innocenzio, Associated Press The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. 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