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By Paul Solman, Tommy Walters, Ryan Connelly Holmes
The Federal Reserve raised interest rates significantly again Wednesday in a bid to put the brakes on inflation. The economy is no longer running nearly as hot as it did last year, but Fed Chair Jerome Powell said it was…
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.
The Federal Reserve is expected to raise interest rates again this week by three-quarters of a point. Fed Chair Jerome Powell has made it clear he wants to substantially curb the rate of inflation. But there are serious concerns the…
By Matt Ott, Associated Press
U.S. consumer confidence slid again in July as concerns about higher prices for food and gas continue to weigh on Americans.
Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession.
Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to…
Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned…
By Aamer Madhani, Associated Press
The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a…
Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine.
By Josh Boak, Associated Press
President Joe Biden says the American people are "really, really down" after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are hitting family budgets.
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