By Christopher Rugaber, Associated Press
The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.
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.
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…
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.
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…
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.
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.
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.
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.
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.
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