Tag: inflation
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Powell to face Senate grilling on Fed rates and inflation
If measures of the U.S. economy keep coming in hot, as they did in January, the Federal Reserve will likely have to raise interest rates even higher than it has already signaled — and keep them there longer — Chair Jerome Powell will likely warn in testimony to Congress on Tuesday.
CBO projects higher unemployment, slow exit from inflation
The Congressional Budget Office said Wednesday that it expects the U.S. economy to stagnate this year with the unemployment rate jumping to 5.1% — a bleak outlook that was paired with a 10-year projection that publicly held U.S. debt would nearly double to $46.4 trillion in 2033.
Fed raises key rate by half-point and signals more to come
The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But it announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing.
Amazon says it had its biggest Thanksgiving shopping weekend
Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation.
Santa’s back in town with inflation, inclusion on his mind
Don’t look for plastic partitions or faraway benches when visiting Santa Claus this year. The jolly old elf is back, pre-pandemic style, and he’s got some pressing issues on his mind.
