Slowing Economy

Opinion

Opinion: Fed Must Act Now to Stop Runaway Inflation – Inside Sources

Price inflation in the United States is getting out of control. Americans are seeing prices rise at the fastest rates in 40 years. Until recently, the Federal Reserve — the agency tasked with ensuring price stability — has been unwilling to address the problem. In recent months, the Fed has finally started raising short-term interest

Financial

Fed raises key rate by a half-point in bid to tame inflation

The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come. The increase in the Fed’s key short-term rate raised it to a range of 0.75%

Financial

Powell reinforces expectations of sharp rate hike next month

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

Inflation

How higher interest rates will affect Americans’ finances

Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on what’s likely to be a prolonged period of rate hikes to fight inflation. Record-low mortgage rates below 3%, reached last year, are already gone. Credit card interest rates

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