Fed unleashes another big rate increase, but hints at smaller hikes
The Federal Reserve on Wednesday raised its key short-term interest rate to a range of 3.75% to 4%, its highest level in 15 years.
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Powell likely to be pressed on how soon Fed will slow hikes
Looming over the Federal Reserve meeting that ends Wednesday is a question of intense interest: Just how high will the Fed’s inflation-fighters raise interest rates—and might they slow their rate hikes as soon as next month?
U.S. job openings rise to 10.7M in bad news for inflation fight
U.S. job openings rose unexpectedly in September, suggesting that the American labor market is not cooling as fast as the inflation fighters at the Federal Reserve hoped.
Key U.S. inflation gauge stayed at high 6.2% in September
A measure of inflation that is closely monitored by the Federal Reserve remained painfully high last month, the latest sign that prices for most goods and services in the United States are still rising steadily.
Average long-term U.S. mortgage rates continue to climb
The National Association of Realtors said Thursday that sales of previously occupied U.S. homes fell in September for the eighth month in a row.
Another month of solid hiring suggests more big Fed hikes
America’s employers slowed their hiring in September but still added a solid number of jobs, likely keeping the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation.
Fed’s Cook says more rate hikes needed to combat inflation
Comments by Federal Reserve Governor Lisa Cook, Neel Kashkari and Raphael Bostic suggest the Federal Reserve is unlikely to slow its campaign against inflation anytime soon.
Fed officials call for more rate hikes to fight inflation
The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
Powell’s stark message: Inflation fight could cause recession
The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession.
Fed attacks inflation with another big hike and expects more
The Federal Reserve boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.
Federal Reserve likely to signal higher rate hikes ahead
Economists expect Fed officials to forecast that their key rate could go as high as 4% by the end of this year. They’re also likely to signal additional increases in 2023, perhaps to as high as roughly 4.5%.
Powell: Fed hoping higher rates won’t mean deep U.S. recession
New research released Thursday concluded that the Federal Reserve will probably have to accept a much higher unemployment rate than it expects—possibly as high as 7.5%—to curb inflation.
Slower U.S. job gains in August could aid Fed’s inflation fight
The smaller August gain will likely be welcomed by the Federal Reserve, which is rapidly raising interest rates to try to cool hiring and wage growth.
Fed’s soft landing hinges on job market doing something strange
The Federal Reserve’s hopes for a “soft landing” rest on a rarely occurring phenomenon: Unemployment will rise not because workers lose their jobs, but because more people without jobs start looking for work.
Job vacancies rise after 3 months of declines, dashing Fed hopes for cooling
The increase that the government reported Tuesday will be a disappointment for Federal Reserve officials, who are seeking to cool hiring by raising short-term interest rates to try to slow borrowing and spending, which tend to fuel inflation.
Fed’s real-time payment system coming as soon as May
In development for effectively a decade, FedNow is expected to allow banks of any size to send payments to each other in real-time. That will allow bank customers to send real-time payments to one another on the same rails.
Stocks see biggest drop in 2 months as Fed dashes hopes for easing rates
The losses came after Chair Jerome Powell said the Federal Reserve will likely need to keep interest rates high enough to slow the economy for some time in order to beat back the high inflation sweeping the country.
Stocks fall as Fed chair says rates to remain high ‘for some time’
Federal Reserve leader Jerome Powell acknowledged the rate hikes will hurt the job market and U.S. households, but he also said the pain would be worse if inflation were allowed to fester.
Fed unleashes another big rate hike in bid to curb inflation
The Fed is tightening credit even while the economy has begun to slow, thereby heightening the risk that its rate hikes will cause a recession later this year or next.
Fed set to impose another big rate hike to fight inflation
When it ends its latest policy meeting Wednesday afternoon, the Fed is expected to impose a second consecutive three-quarter-point hike in its benchmark interest rate, raising it to a range of 2.25% to 2.5%.