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
Jun 29 'No guarantee' Fed can tame inflation without hurting employment, Powell warns By Paul Wiseman, Associated Press Federal Reserve Chair Jerome Powell said there's "no guarantee" the central bank can tame runaway inflation without hurting the job market. Continue reading
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 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: 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