This week, the stock market took a turn into bear territory on the heels of yet another brutal monthly inflation report. With the Federal Reserve considering larger rate hikes in order to tamp down record inflation, the possibility of a near-term recession now looms quite large, despite the feeble protestations of Treasury Secretary Janet Yellen.
Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation. Powell’s message was more hawkish than his comments were after last week’s Fed meeting, when officials raised
Two Republicans and a Democrat were leading in the race to secure three of the five seats on the Arizona Corporation Commission, which regulates publicly owned utilities in a state that faces growing challenges from the effects of climate change. Unofficial results from the Secretary of State’s Office on Friday morning showed Republican Lea Márquez