Jul 26 WATCH: Powell announces 11th key interest rate raise in drive to slow inflation By Christopher Rugaber, Associated Press Coming on top of its previous rate hikes, the Fed’s latest move could lead to further increases in the costs of mortgages, auto loans, credit cards and business borrowing. Continue reading
Jul 24 Federal Reserve officials meet as central bank aims for ‘soft landing’ By Christopher Rugaber, Associated Press After the Fed began aggressively raising borrowing costs early last year, most economists predicted it would send the economy crashing. Yet even though the Fed is poised to raise its key rate on Wednesday for the 11th time since March… Continue reading
Jun 22 WATCH: Fed Chair Jerome Powell reinforces likelihood of more rate hikes By Matt Ott, Associated Press Chair Jerome Powell reiterated Thursday that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economy's service sector and the surprisingly tight job market. Continue reading
Jun 21 WATCH: Fed Chair Powell testifies on inflation and interest rates before House committee By Christopher Rugaber, Associated Press “Inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go,” Powell said on the first of two days of semi-annual testimony on Capitol Hill. Continue reading
Jun 14 Fed keeps rates unchanged for first time in 15 months but signals 2 more potential hikes this year By Christopher Rugaber, Associated Press The Fed's move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it's engineered have made some progress in taming inflation. Continue reading
Jun 14 WATCH: Fed Chair Powell announces interest rates will remain unchanged as inflation eases By Christopher Rugaber, Associated Press The Fed’s move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation. Continue reading
May 18 As high inflation continues, split on strategy among Federal Reserve officials By Christopher Rugaber, Associated Press The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight… Continue reading
May 03 Watch 5:17 Fed raises rates again but signals a future pause amid banking sector uncertainty By Amna Nawaz, Karina Cuevas The Federal Reserve raised interest rates again, its tenth consecutive hike, this time by a quarter of a point. But Chairman Jay Powell also suggested the Fed may pause future hikes if the economy continues to cool. He cited the… Continue watching
May 03 Fed raises interest rate again but hints it may pause due to bank turmoil By Christopher Rugaber, Associated Press The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. Continue reading
May 03 WATCH: Federal Reserve Chair Jerome Powell speaks on latest interest rate hike By Christopher Rugaber, Associated Press The Fed's efforts have only partly succeeded in taming the worst inflation bout in four decades, and the surge in rates has contributed to the collapse of three large banks and turmoil in the banking industry. Continue reading