Powell and his fellow Fed committee members yesterday hiked short-term interest rates another 0.25 percentage points to 4.75%, which means retirees and other savers are getting the best savings rates in a generation.
The U.S. economy fared better than expected at the end of last year, despite higher borrowing costs and the rising cost of living weighing on activity.
U.S. retail sales fell by the most in a year in December, pulled down by declines in purchases of motor vehicles and a range of other goods, putting consumer spending and the overall economy on a weaker growth path heading into 2023.
Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank’s December meeting.
Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.
World’s richest man Elon Musk thinks the recession will be amplified if the U.S.
A “substantial majority” of Federal Reserve officials support slowing down the pace of interest rate rises soon,
Key events this week: U.S. Fed, BoE interest rate decisions; U.S. jobs report, UK PMI, Eurozone inflation and more
The central banks of India, the United Kingdom, and the United States will meet in the upcoming week.
At $31.1 trillion, outstanding public debt is getting closer to the $31.4 trillion debt ceiling Congress imposed until early 2023.
Investors have been focusing on Friday’s jobs report for September for clues as to whether the Fed might keep up its pace of outsize rate hikes in the face of robust wage gains that have been fueling inflation.
A Federal Reserve dead-set on fighting inflation is leaving little hope that this year’s rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than many investors were expecting.
Ray Dalio has little positive to say about what’s happening in the US economy, and what that means for the outlook for equities, given that inflation is running well above what most people and central bankers want.
The implementation of President Biden's widespread, income-targeted student loan forgiveness is shaping up to be a bureaucratic challenge for the U.S. Department of Education.
According to the minutes of their July 26-27 policy meeting