President Biden to meet with Federal Reserve chairman to discuss inflation
The White House says the pair will discuss the state of the U.S. and global economy along with inflation, described as Biden’s “top economic priority.”
Federal Reserve
Fed raises key rate by a half-point in bid to tame inflation
By Christopher Rugaber (AP)
The Federal Reserve intensified its drive to curb the worst inflation in 40 years by raising its benchmark short-term interest rate by a sizable half-percentage point.
Consumer News: Slight relief at the gas pump in SC, Federal Reserve raises interest rates
Consumer News: Slight relief at the gas pump in SC, Federal Reserve raises interest rates
What higher interest rates mean for your wallet
For the first time since 2018, the Federal Reserve is raising interest rates by a quarter-percentage point. The Fed also hinted more increases are ahead this year, as it works to tame soaring inflation. The move comes despite the growing economic uncertainty in the U.S. caused by the war in Ukraine.
Consumer News: Airlines seeing unprecedented demand, Federal Reserve announces rate hike
Consumer News: Airlines seeing unprecedented demand, Federal Reserve announces rate hike
Fed begins inflation fight with key rate hike, more to come
The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Fed will tighten credit faster and sees 3 rate hikes in 2022
The Federal Reserve will quicken the pace at which it’s pulling back its support for the post-pandemic U.S. economy as inflation surges, and it expects to raise interest rates three times next year.
U.S. unemployment claims shoot up for first time in almost two months
Across the United States, first time jobless benefits claims shot up for the first time in nearly two months. The rate of new unemployment claims had been setting new pandemic-era lows each week since the beginning of May.
Federal Reserve keeps interest rates near zero as economy recovers from the pandemic
The Federal Reserve is keeping interest rates at rock-bottom levels.
Federal Reserve Raises Interest Rates for First Time in Nearly a Decade
(ABC News) — The Federal Open Market Committee (FOMC) announced today that it was raising short-term rates by a quarter point — the first increase in nine years. The unanimous decision had been widely expected by investors after Federal Reserveofficials, including Chairwoman Janet Yellen, had hinted that the central bank was ready to change direction after keeping interest rates between…
