Photo: Federal Reserve Chair Jerome Powell speaks at a news conference Wednesday, Sept. 21, 2022 Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that
Photo: Consumers fill up at a Shell gas station Wednesday, July 13, 2022, in Miami Beach, Fla. U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk
Wall Street tumbled into what’s called a bear market Monday after fears about a fragile economy and rising interest rates sent the S&P 500 more than 20% below its record set early this year. The index sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning
The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said Thursday, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May. In a panel discussion held by the International Monetary Fund during its