A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
Federal Reserve Chairman Jerome Powell’s insistence that the central bank is not deliberately trying to cause a recession and that the economy is on solid footing is exactly what someone in his position would be expected to say. The trouble...
Amid record inflation, 36% of employees earning $100,000 or more say they are living paycheck to paycheck
South_agency | E+ | Getty Images More than a third of high-earning American workers feel strapped for cash — a share that has risen dramatically in recent years. Thirty-six percent of U.S. employees with salaries of $100,000 or more are...
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal...
Stock futures rise after Fed raises rates by most since 1994
U.S. stock index futures were higher in overnight trading on Wednesday.
Powell says the Fed could hike rates by 0.75 percentage point again in July
Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point...
Here’s what the Federal Reserve’s 0.75 percentage point rate hike — the highest in 28 years — means for you
What the federal funds rate means to you The federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Although that’s not the rate consumers pay,...