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”...
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.
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.
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:...
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.
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.
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.
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...
