US recession not ‘inevitable,’ Treasury secretary says

US recession not ‘inevitable,’ Treasury secretary says

This post was originally published on this site A recession in the United States is not “inevitable” but the economy is likely to slow, Treasury Secretary Janet Yellen said Sunday, days after the US Federal Reserve hiked interest rates, raising fears of a contraction. “I expect the economy to slow”...

Read more
Biden administration invites oil CEOs to meeting next week on gas prices

Biden administration invites oil CEOs to meeting next week on gas prices

This post was originally published on this siteThe Energy Department sent an invitation to oil industry executives Wednesday night to meet next week to discuss high gas prices, an official familiar with the matter tells CNN.

Read more
Mortgage rates hit 14-year high as inflation persists

Mortgage rates hit 14-year high as inflation persists

This post was originally published on this siteThe 30-year fixed-rate average soared to 5.78 percent this week, making its biggest one-week jump since 1987.

Read more
Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years

Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years

This post was originally published on this site   US Federal Reserve Chairman Jerome Powell speaks during a press conference in Washington, DC on May 4, 2022. jim watson | AFP | Getty Images On Wednesday, the Federal Reserve is expected to do something it hasn’t done in 28 years:...

Read more
Higher Unemployment Rate Looms as the Fed Fights Inflation

Higher Unemployment Rate Looms as the Fed Fights Inflation

This post was originally published on this siteCentral-bank officials are beginning to signal that higher unemployment rates might be a necessary consequence of their efforts to damp inflation by raising interest rates.

Read more
Fed Likely to Signal Half-Point Rate Rises Through September

Fed Likely to Signal Half-Point Rate Rises Through September

This post was originally published on this siteTop central bank officials have indicated they won’t slow the pace of rate increases until they see clear proof of an inflation slowdown.

Read more
Rapid Pace of U.S. Inflation Likely Held Steady in May

Rapid Pace of U.S. Inflation Likely Held Steady in May

This post was originally published on this siteThe Labor Department is estimated to report that the consumer-price index rose 8.3% in May from the same month a year ago, the same as in April, according to economists surveyed by The Wall Street Journal.

Read more
Biden, economy imperiled by predicted May inflation spike

Biden, economy imperiled by predicted May inflation spike

This post was originally published on this siteAnother spike in monthly price growth is posing a serious threat to the U.S. economy — and President Biden’s political prospects. New consumer price index (CPI) inflation data to be released Friday is expected to show consumer prices rising at a faster rate...

Read more