The third straight month of supersized rate increase. On Wednesday, the Federal Reserve raised rates by three-quarters of a point and projected a more aggressive path ahead, suggesting…
Read MoreFederal Reserve Chairman Powell
Federal Reserve Board Meets in Wyoming
Chairman Powell says efforts to reduce inflation will “bring some pain.” Members of the Federal Reserve have been meeting in Jackson Hole, Wyoming, and on Friday, Chairman Jerome…
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Unemployment Claims Reach Eight-Month High
Federal Reserve rate hikes may be causing the labor market to slow down. The number of new applications for unemployment benefits increased by 7,000 last week to 251,000,…
Read MoreFederal Reserve Committed to Bringing Down Inflation
Chairman Powell says they will “do whatever it takes.” Federal Reserve Chairman Jerome Powell said Wednesday that the U.S. central bank will “do whatever it takes” even if…
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President Sets Out Plan to Fight Inflation
He will “build on historic recovery.” On Tuesday, President Biden laid out a three-part plan for combating high inflation. “We have a chance to build on a historic recovery…
Read MoreFederal Reserve Chair Secures Second Term
Jerome Powell received bipartisan support. The Senate on Thursday voted 80-19 to give Federal Reserve Chairman Jerome Powell a second four-year term, keeping him as the head of…
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Fastest Rate Hikes in Decades Coming from Federal Reserve
Latest attempt to fight inflation. The Federal Reserve is poised this week to accelerate its most extreme steps in three decades to attack inflation by making it costlier…
Read MoreNational Debt Exceeds $30 Trillion
Treasury Department announces sobering milestone. America’s total national public debt outstanding is now above $30 trillion, according to Treasury Department data. Government borrowing accelerated during the COVID-19 pandemic as…
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Treasury Secretary Supports Federal Reserve Nominees
Expresses confidence in their ability to keep the agency independent. President Joe Biden previously nominated Jerome Powell and Lael Brainard to serve on the Federal Reserve Board, and…
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Higher Inflation Creating Pressure on Consumers
President seeks help from the private sector. The Department of Labor reported this week that consumer prices increased solidly in September. Americans are now paying more for food,…
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