Fed Raises Interest Rates 0.25%, Signals Six More Hikes This Year
The Federal Reserve on Wednesday raised its benchmark short-term interest rate for the first time since 2018, lifting its target for the federal funds...
Inflation Soars to 7.9% Annual Rate, Highest in 40 Years
Rising prices for everything from fuel and food to services and housing sent the 12-month consumer inflation rate soaring to 7.9% in February, the...
US Wages Are 20% Lower Due to Lack of Competition Among Employers: Report
As the Biden administration works to promote what it calls its pro-labor agenda, a new analysis by the Treasury Department finds that monopsony power...
Job Market Is Booming, but Ukraine War Could Change That
The U.S. economy added a robust 678,000 jobs in February, the Bureau of Labor Statistics announced Friday, in a report that showed stronger-than...
Fed Pressing Ahead With Rate Hike in March
Federal Reserve Chair Jay Powell said Wednesday that he expects the central bank to raise interest rates by a quarter-point this month, despite the...
As Oil Prices Surge, US to Release Millions of Barrels From Reserve
As oil prices on Tuesday jumped above $105 a barrel for the first time since 2014, the U.S. and its allies announced a plan to release 60 million...
Biden to Tackle Inflation and Deficit in State of the Union Speech
President Biden is set to deliver his first State of the Union address on Tuesday night, and White House aides are already previewing the speech for...
A Battle Over the Causes of Inflation
In his State of the Union address Tuesday, President Joe Biden is expected to unveil a new plan to address surging prices throughout the U.S. economy...
Russian Invasion of Ukraine Could Send Shockwaves Through US Economy
Inflation is expected to run higher following the Russian invasion of Ukraine, as supply chains face increased pressure and prices rise for basic...
White House to Issue New ‘Buy American’ Guidelines
The Biden administration announced Thursday that it will be taking steps to strengthen the supply chain in the U.S., including new rules governing the...