WASHINGTON — The Federal Reserve has raised its key interest rate for the fourth time this year to reflect the U.S. economy's continued strength but signaling that it expects to slow hikes next year. The quarter-point hike, to a range of 2.25 percent to 2.5 percent, lifted the Fed's benchmark...
Powell: US Economy Healthy and Rate Hikes Aren’t Automatic
WASHINGTON — Federal Reserve Chairman Jerome Powell cast a bright picture of the U.S. economy Wednesday and appeared to suggest that the Fed might consider a pause in its interest rate hikes next year to assess the impact of its credit tightening. Powell's comments ignited a rally on Wall Street,...
Trump Claims US is 'Economic Envy of the Entire World'
WASHINGTON — President Donald Trump celebrated the release of new economic data on Friday, claiming the U.S. is now the "economic envy of the entire world." The president was responding to new growth numbers announced on Friday that show the U.S. economy surged in the April-June quarter to an annual...
Why Your Paycheck Isn't Keeping Pace With Inflation
The Republican Party trumpeted the $1,000 bonuses that some of America's largest companies said they were giving rank-and-file employees following the passage of the GOP tax cuts. The party's public relations effort made for good headlines. But the reality was a different story. People working for Walmart, Lowe's and Home...
Rise in Interest Rates Could Be Short-Lived: CNBC Report
The Federal Reserve meets today and Wednesday and a published report suggests that the central bank could halt the rise of interest rates earlier than expected. Should that happen, analysts speculate, the economy's prolonged expansion could last longer than previously forecast. CNBC reports that while the Fed is expected to...
The Fed Ignores Inflation at Its Peril
It is often said that policymakers who forget history are bound to repeat it. One wonders whether the same might be said of the Federal Reserve in its seeming current disregard of the lessons from the country’s previous inflationary episodes. Despite the growing number of reasons to be concerned that...
The Fed Ignores Inflation at Its Peril
It is often said that policymakers who forget history are bound to repeat it. One wonders whether the same might be said of the Federal Reserve in its seeming current disregard of the lessons from the country’s previous inflationary episodes. Despite the growing number of reasons to be concerned that...