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Fed Leaves Low Rates Alone and Sees No Moves in Near Future

WASHINGTON — Chairman Jerome Powell made clear Wednesday that the Federal Reserve is prepared to keep its benchmark interest rate very low through at least next year — and possibly longer. “Inflation is barely moving up, notwithstanding that unemployment is...
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A Divided Fed Cuts Key Interest Rate for 2nd time This Year

WASHINGTON — A sharply divided Federal Reserve cut its key benchmark interest rate for a second time this year while saying Wednesday that it's prepared to continue doing what it deems necessary to sustain the U.S. economic expansion. The Fed's move will redu...
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Gov. Newsom Gets Bill Capping Rent Increases

SACRAMENTO — Lawmakers sent Gov. Gavin Newsom legislation Wednesday capping rent increases as the state struggles with an affordable housing and a homelessness crisis. The cap expires in 2030 and would not a...
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Powell Says Fed Will Aid Economy, but Trump Escalates Attack

WASHINGTON — Federal Reserve Chairman Jerome Powell signaled Friday that the Fed stands ready to cut interest rates further if the economy needs it but wasn't clear about when or by how much. Powell had barely finished speaking to central bankers in Jackson...
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US Consumer Spending Posts Big Gains

WASHINGTON — U.S. consumer spending surged 0.9% in March, the biggest gain in nearly a decade, as inflation pressures remain non-existent. Incomes grew 0.1% in March while inflation rose just 0.2% and has risen only 1.5% over the past 12 months, far below t...