Sep 21 WATCH: Fed raises key interest rate by three-quarters of a point By Christopher Rugaber, Associated Press 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. Continue reading
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 WATCH: White House press secretary Karine Jean-Pierre defends student debt forgiveness plan 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. Continue reading
Aug 26 Federal Reserve’s inflation fight could bring ‘pain’ and job losses warns Powell By Chris Rugaber, Associated Press Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed is determined to fight inflation with more sharp interest rate hikes, which will likely cause pain for Americans in the form of a weaker economy and job losses. Continue reading
Aug 26 WATCH: Federal Reserve Chair Powell warns interest rates could increase ‘for some time’ By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed will likely impose more large interest rate hikes in coming months and is resolutely focused on taming the highest inflation in four decades. Continue reading
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