The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession. The unusually large rate hike came after data
Photo: Gasoline prices are shown at a gas station Thursday, June 9, 2022, in Salt Lake City There is little evidence that gasoline prices, which hit a record $5 a gallon on Saturday, will drop anytime soon. Rising prices at the pump are a key driver in the highest inflation that Americans have seen in
President Joe Biden’s top economic adviser expressed confidence Sunday that the White House’s $1.85 trillion domestic policy package will quickly pass the House this week and said approval couldn’t come at a more urgent time as prices of consumer goods spike. “Inflation is high right now. And it is affecting consumers in their pocketbook and
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