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The Federal Reserve is expected on Wednesday to raise interest rates and perhaps signal a pause in its 14-month tightening cycle, as policymakers balance the need to slow inflation against a pressing set of risks ranging from bank failures to the possibility of a U.S. debt default as soon as next month. → Read More
A continued drop in job openings and a dip in the rate at which workers are quitting have kept alive, for now, a key Federal Reserve narrative that the economy can slow without a major crack in employment. → Read More
The Federal Reserve kicks off a two-day policy meeting on Tuesday that is likely to push the U.S. central bank's benchmark overnight interest rate to its highest level in nearly 16 years, hitting a potential plateau that will test the economy in a way not seen since the onset of the financial crisis in 2007. → Read More
Demand for Daikin Applied Americas Inc's climate control equipment is soaring, and worker recruitment is in hyperdrive, with hiring trips to women's shelters and immigrant support groups and an open door for applicants with no high school degree or manufacturing experience. → Read More
U.S. Federal Reserve officials meet next week again chasing persistent inflation but now balancing that against the first acute tremors from the aggressive interest rate hikes the central bank approved over the past year. → Read More
Earlier this month the U.S. Federal Reserve in a report to Congress gave what has become a standard reassurance: Banks were strong and the overall financial system in solid shape. → Read More
Federal Reserve Chair Jerome Powell on Wednesday reaffirmed his message of higher and potentially faster interest rate hikes, but emphasized that debate was still underway with a decision hinging on data to be issued before the U.S. central bank's policy meeting in two weeks. → Read More
It wasn't volunteered, but Federal Reserve Chair Jerome Powell on Tuesday made his most extensive comments to date on the role corporate profits could play in lowering inflation, telling U.S. lawmakers it was possible for inflation to fall and workers' wages to keep rising for a time if companies and their shareholders took less for themselves. → Read More
The Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation, Fed Chair Jerome Powell told U.S. lawmakers on Tuesday. → Read More
At the worst of the pandemic labor crunch, convenience store chain Sprint Mart struggled to staff its shops across the southern U.S. as available workers drifted to the higher wages Amazon.com Inc offered at its fulfillment centers or opted for flexible gig economy jobs. → Read More
The U.S. Federal Reserve is "acutely aware" of the challenges high inflation poses to the economy and is "strongly committed" to its 2% target for price increases, the central bank said on Friday in its latest semiannual report to Congress on monetary policy and the economy. → Read More
A virtual event with Federal Reserve Governor Christopher Waller was canceled on Thursday after the Zoom video conference was "hijacked" by a participant who displayed pornographic images. → Read More
The impact of higher U.S. interest rates on the economy may only begin to "bite" in earnest this spring, an argument for the Federal Reserve to stick with "steady" quarter-point rate increases, Atlanta Federal Reserve President Raphael Bostic said on Thursday. → Read More
Inflation for a broad array of services in the United States remains "stubbornly high," Federal Reserve Governor Philip Jefferson said Monday, though slower-growing wages might help slow prices in those parts of the economy as well. → Read More
Dana Peterson, the chief economist at the Conference Board, sees a clear conclusion in the sharp decline of the U.S. business group's Leading Economic Index: If recession isn't already taking hold in the United States, then it will soon. → Read More
The Federal Reserve will be hard-pressed to lower inflation without a significant blow to U.S. economic activity and a sharp rise in unemployment, and even then may miss its 2% inflation target for years to come, a group of top economists concluded after a review of central banks' past inflation battles. → Read More
Minutes from the U.S. Federal Reserve's latest meeting out Wednesday are expected to detail the breadth of debate at the central bank over how much further interest rates may need to be raised to slow inflation and cool an economy that has remained stronger than expected despite tighter Fed policy. → Read More
A year into the U.S. Federal Reserve's most aggressive monetary crackdown since the 1980s the strength of the U.S. economy has befuddled policymakers now faced with an unexpected dilemma: Are things too good? → Read More
Two Federal Reserve officials on Friday added to a chorus of U.S. central bankers this week in signaling that interest rates will need to go higher in order to successfully quash inflation, although one guarded against inferring too much from recent unexpectedly-strong economic data. → Read More
U.S. consumers flush with the COVID pandemic aid payments that flowed from the government in 2020 and 2021 flocked to auto lots and drove vehicle prices to sky-high levels. → Read More