Jan 24 Federal Reserve expected to raise interest rates in fight against inflation By Christopher Rugaber, Associated Press With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years. Continue reading
Jan 11 Watch 5:16 News Wrap: UN seeks record $5 billion in humanitarian aid for Afghanistan In our news wrap Tuesday, the United Nations is appealing for a record $5 billion in humanitarian assistance for Afghanistan and neighboring countries as the U.S. announced $300 million in aid. Also, the number of people hospitalized with COVID-19 in… Continue watching
Jan 11 WATCH: Federal Reserve chair Jerome Powell says inflation poses a major threat to job market By Christopher Rugaber, Associated Press Federal officials have forecast three increases in the their benchmark short-term rate this year, though some economists say they envision four rate hikes in 2022. Continue reading
Dec 15 Watch 7:16 Why the Fed will raise interest rates in 2022, and how soon consumers will feel hikes Federal Reserve officials announced Wednesday they are prepared to fight inflation with as many as three rate hikes, starting next spring, in an effort to cool persistently high inflation. Its benchmark rate, which affects borrowing, lending and economic growth, has… Continue watching
Dec 15 Fed will tighten credit faster and sees 3 rate hikes in 2022 amid inflationary pressure By Christopher Rugaber, Associated Press In an abrupt policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it previously announced, likely ending them altogether in March. Continue reading
Dec 15 WATCH: Jerome Powell says Federal Reserve will tighten credit amid inflation surge By Christopher Rugaber, Associated Press With inflation surging and unemployment falling, the Federal Reserve said Wednesday that it will shrink its support for the economy more quickly and expects to raise interest rates three times next year. Continue reading
Dec 10 U.S. consumer inflation jumps 6.8 percent in past year, most in almost 40 years By Martin Crutsinger, Associated Press Prices for U.S. consumers jumped 6.8 percent in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982. Continue reading
Dec 01 WATCH: Fed Chair Jerome Powell ‘not at all sure’ inflation will fade next year By Chris Rugaber, Associated Press In a fresh sign of his growing concerns about inflation, Chair Jerome Powell said Wednesday that the Federal Reserve can't be sure that price increases will slow in the second half of next year as many economists expect. Continue reading
Nov 30 WATCH: Treasury Secretary Janet Yellen, Fed Chair Jerome Powell testify before Senate committee By Christopher Rugaber, Associated Press Chair Jerome Powell says the Federal Reserve will consider acting more quickly to dial back its ultra-low-interest rate policies to counter higher inflation, which Powell acknowledged will likely persist well into next year. Continue reading
Nov 22 WATCH: Biden to re-nominate Powell as Fed chair, Brainard gets vice chair By Christopher Rugaber, Associated Press President Joe Biden announced he's nominating Jerome Powell for a second term as Federal Reserve chair, endorsing Powell's stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies helped bolster confidence and revitalize the… Continue reading