Inflation surged a higher-than-expected 8.3% in April, staying near its steepest level in decades as the Federal Reserve scrambles to cool the economy with a series of rate hikes that have rattled investors.
The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point as the most aggressive step yet in its battle against generational highs in inflation.
The Federal Reserve is set to take its most aggressive action in decades to rein in inflation when it meets this week — a move that would have implications for the entire economy.
Federal Reserve officials are signaling that they will take a more aggressive approach to fighting high inflation in the coming months – actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the economy.
President Joe Biden announced Wednesday that the repayment freeze on federally held student loans would be extended through August.
The Dallas Federal Reserve is warning that ongoing sanctions against Russia will lead to a global recession.
The US central bank must be swift in bringing “much too high” inflation to heel, Federal Reserve Chair Jerome Powell said Monday, adding that the bank could “aggressively” raise interest rates if necessary.
The Federal Reserve announced Wednesday it would raise its interest rate target by a quarter percentage point in an effort to curb soaring inflation, a major step away from its pandemic-era emergency policies.
Ukraine’s government says it has raised some $106 million in global donations in cryptocurrency for its army. At the same time, nations rush to launch their digital currencies as an alternative to the U.S. dollar.
An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine.
Federal Reserve Governor Michelle Bowman said Monday that she was open to lifting interest rates by more than the traditional quarter-point at the central bank’s next meeting in March.
With both volatile markets and significant inflation in the mix, the Federal Reserve on Wednesday indicated that it may soon raise interest rates for the first time in more than three years.
The Federal Reserve is asking for the public’s help in weighing whether the United States should develop and adopt a central bank digital currency.
Federal Reserve Chairman Jerome Powell acknowledged Tuesday that high inflation is indeed a serious threat to the U.S. central bank’s goal of helping to get U.S. employees back to work.
Policymakers at the U.S. central bank, the Federal Reserve, moved aggressively Wednesday to fight raging inflation in consumer prices for American shoppers and businesses.
Under U.S. President Joe Biden’s watch, prices spiked a whopping 6.8 percent in November, compared with the same time last year, the fastest increase of inflation this nation saw in 39 years, the Federal Reserve revealed.
Short-term inflation expectations are at their highest levels since the Federal Reserve Bank of New York began surveying consumers nearly a decade ago.
Fed officials on Wednesday downgraded their forecast for the U.S. unemployment rates, with expectations that inflation and joblessness will rise before the end of the year.
U.S. stocks shed more than 600 points as the markets closed Monday. This recent plummet comes as emerging risks continue to become the September story for Wall Street.
As many as 1.95 million households across America owed a collective $15 billion in back rent when a nationwide eviction moratorium expired this weekend, according to Federal Reserve Bank of Philadelphia estimates.