Members of the Federal Reserve participate in an annual economic symposium. Economic leaders from around the world, including members of the U.S. Federal Reserve, participated in an annual…
Read MoreInterest Rates
Federal Reserve Board Meets in Wyoming
Chairman Powell says efforts to reduce inflation will “bring some pain.” Members of the Federal Reserve have been meeting in Jackson Hole, Wyoming, and on Friday, Chairman Jerome…
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President Announces Major Student Loan Forgiveness
Benefits accrue to tens of millions of Americans. President Biden is taking action Wednesday to forgive $10,000 or more in federal student loan debt, a move that would…
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Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
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Fed Raises Rates 0.75 Percent Again
Credit tightens as the economy begins to slow. On Wednesday, the Federal Reserve raised its benchmark interest rate by three-quarters of a point for the second straight time…
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Unemployment Claims Reach Eight-Month High
Federal Reserve rate hikes may be causing the labor market to slow down. The number of new applications for unemployment benefits increased by 7,000 last week to 251,000,…
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Latest Jobs Numbers Point to Solid Growth
Numbers ease recession fears for now. U.S. employers added 372,000 jobs to the U.S. economy in June, extending a streak of strong labor market gains, yet the broader…
Read MoreFederal Reserve Raises Key Rate 0.75 Percent
Short-term rate now 1.75%, could still increase. On Wednesday, the Federal Reserve announced that it will be addressing inflation by raising its interest rate from 1% to 1.75%.…
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Unemployment Claims Higher Than Estimated
Highest level since January. The Labor Department reported that unemployment claims for the week ending on June 4 reached 229,000, increasing by 27,000 from the last period. The number,…
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President Responds to Strong Jobs Report for May
He says the U.S. can address inflation from a “position of strength.” On Friday, President Biden praised the May jobs report as evidence of the economy’s underlying strength.…
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