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…
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August CPI Report Shows Inflation at 8.3%
Federal Reserve poised to again raise interest rates. The Consumer Price Index for August shows inflation is up 8.3 percent from a year ago. Economists were expecting a lower…
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Mortgage Rates Hit 5.89 Percent
Some banks offer zero-down financing. As the Federal Reserve attempts to curb inflation by increasing interest rates, mortgage rates continue to rise. The home lending rate is now…
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World Economists Expect Economic Volatility to Persist
Members of the Federal Reserve participate in an annual economic symposium. Economic leaders from around the world, including members of the U.S. Federal Reserve, participated in an annual…
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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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President Announces Major Student Loan Forgiveness
Benefits accrue to tens of millions of Americans. President Biden is taking action Wednesday to forgive $10,000 or more in federal student loan debt, a move that would…
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Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
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Fed Raises Rates 0.75 Percent Again
Credit tightens as the economy begins to slow. On Wednesday, the Federal Reserve raised its benchmark interest rate by three-quarters of a point for the second straight time…
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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,…
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Latest Jobs Numbers Point to Solid Growth
Numbers ease recession fears for now. U.S. employers added 372,000 jobs to the U.S. economy in June, extending a streak of strong labor market gains, yet the broader…
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