Tag: economy
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Markets cheer after Powell downplays even larger rate hikes
The Dow Jones Industrial Average surged more than 900 points and the S&P 500 had its biggest gain in two years Wednesday after Federal Reserve Chair Jerome Powell downplayed the likelihood of an even larger interest rate hike after announcing the sharpest rate increase since 2000.
Fed raises key rate by a half-point in bid to tame inflation
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
4th stimulus check 2022 schedule
ANOTHER batch of stimulus checks worth up to $1,200 is set to go out to thousands of Americans this month. Under California’s Golden State I (GSS 1) and Golden State Stimulus II (GSS II) programs launched in 2021, eligible residents are getting up to $1,100 and $1,200 respectively.
Biden bets strong job market will shield economy from slump
The U.S. economy faces plenty of threats: War in Ukraine, high grocery bills, spiking gasoline prices, splintered supply chains, the lingering pandemic and rising interest rates that slow growth.
Fed signals more aggressive steps to fight inflation
Federal Reserve officials are signaling that they will take an aggressive approach to fighting high inflation in the coming months — actions that will make borrowing sharply more expensive for consumers and businesses and heighten risks to the economy.
