The Federal Reserve on Wednesday approved a fourth consecutive three-quarter point interest rate increase and signaled a potential change in how it will approach monetary policy to bring down inflation. In a well-telegraphed move that markets had been expecting for … Read More
The European Central Bank (ECB) on Thursday announced a record rate hike in a bid to stifle record inflation across the euro area. The ECB’s three key interest rates were each raised by 75 basis points. “This major step frontloads … Read More
Red-hot inflation is eroding American’s wage gains and hurting Democrats in an election year Inflation surged more than expected in January, notching another four-decade high as strong consumer demand and pandemic-related supply-chain snarls fueled rapid price gains that wiped out … Read More
The Dow Jones dropped by more than 700 points Monday morning, while the NASDAQ and S&P 500 were down 440 points and 120 points, respectively. Stocks sank in morning trading on Wall Street Monday, putting the benchmark S&P 500 on … Read More
Economists expected payrolls to increase by 550,000 in November. U.S. job growth significantly undershot expectations in November, suggesting that difficulty in attracting new workers is weighing on the labor market’s recovery from the pandemic, even as COVID-19 cases dissipated nationwide. … Read More
Consumer prices rose in the U.S. at the fastest rate last month since the Great Recession, firing up concerns from Wall Street to Washington about inflation and its potential damage to investor portfolios and American pocketbooks. The Consumer Price Index, … Read More
© Getty Images The biblical prophets chastised the people for having eyes but not seeing and for having ears but not hearing. When it comes to inflation, the Federal Reserve might be chastised in the same way. Despite the many … Read More
President Trump signed an $8.3 billion spending bill Friday aimed at fighting the coronavirus outbreak, the culmination of a bipartisan effort by Congress and the White House to provide funds to federal agencies, as well as state and local governments, to battle the disease. “We’re … Read More