US Launching Controversial Payment System

The U.S. central bank is launching a payment system that critics view as a government attempt to control Americans’ expenditures and a trial run for a controversial digital currency.

Federal Reserve raises interest rates by 25 basis points

The Federal Reserve on Wednesday raised interest rates by 25 basis points, issuing an 0.25% hike in line with earlier expectations in a move that signals a rate slowdown in the Fed’s fight against inflation.

US Inflation Spikes to 8.2%

Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains that many have received and ensuring that the Federal Reserve will keep raising interest rates aggressively.

Mortgage Interest Rates Rise To Highest Level Since 2006

The average interest rate on the most popular U.S. home loan rose to its highest level since 2006 as the housing sector continued to bear the brunt of tightening financial conditions, data from the Mortgage Bankers Association (MBA) showed on Wednesday.

Federal Reserve Predicts Economy Will Slow to a Crawl, Hikes Interest Rate Again

The Federal Reserve raised its target interest rate by three-quarters of a percentage point to a range of 3.00%-3.25% on Wednesday and signaled more large increases to come in new projections showing its policy rate rising to 4.40% by the end of this year before topping out at 4.60% in 2023 to battle continued strong inflation.

World may enter new global recession says IMF

The International Monetary Fund (IMF) on Tuesday attested that the world is in danger of falling into another global recession, the Times of Israel (TOI) reports. The IMF gave its grim view in its latest World Economic Outlook (WEO), amid surging inflation and severe economic slowdowns in the US, the Euro zone, and China.

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