Support Intelligent, In-Depth, Trustworthy Journalism.
By Christopher Rugaber, Associated Press
The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time to fight high inflation but also hinted that it could soon reduce the size of its rate hikes.
America's employers slowed their hiring in September but still added 263,000 jobs, a solid figure that will likely keep the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation. Hiring fell from 315,000 in…
By Paul Wiseman, Associated Press
The number of available jobs in the U.S. plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation.
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3 percent to 3.25 percent, the highest level since early 2008.
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."…
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.
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.
By Associated Press
The White House defended the new plan announced by President Joe Biden that would give many Americans up to $10,000 in federal student loan debt forgiveness.
Support Provided By:
Subscribe to Here’s the Deal, our politics newsletter for analysis you won’t find anywhere else.
Thank you. Please check your inbox to confirm.