(WASHINGTON) -- The Federal Reserve said Wednesday it was raising its short-term borrowing rate another 0.75% to slow key areas of the economy and tame inflation, which is at a 40-year high. The central bank said its new target range is 3.75%-4%, the highest level... Read More.
(WASHINGTON) -- Economists expect another jumbo-sized increase in borrowing costs when the Federal Reserve announces its interest rate decision on Wednesday. Mounting evidence suggests that previous rate hikes have slowed key areas of the economy but inflation remains highly elevated. The move would mark the... Read More.
(NEW YORK) -- The Federal Reserve’s string of interest rate hikes this year has thrown cold water on the once red-hot housing market. Existing home sales fell for the seventh straight month in August, down 0.4%, according to the National Association of Realtors, as the... Read More.
(WASHINGTON) -- Economists expect a major rate hike from the Federal Reserve on Wednesday, the latest in a series of borrowing cost increases as the central bank tries to slash near-historic inflation while avoiding a recession. The Fed will likely raise the benchmark interest rate... Read More.
(NEW YORK) -- A difficult year for many homebuyers became even tougher when the Federal Reserve dramatically raised borrowing costs this week in an effort to tame sky-high inflation, experts told ABC News. For months, homebuyers have faced the dual challenges of skyrocketing mortgage rates... Read More.
(WASHINGTON) -- The Federal Reserve is expected to raise interest rates significantly on Wednesday, escalating a strategy of increased borrowing costs that aims to dial back historic inflation. Central bankers are expected to consider a rate hike of 0.75%, which would mark the largest increase... Read More.
(WASHINGTON) -- President Joe Biden on Wednesday said that the federal government will pay down the national debt this quarter for the first time in six years. His remarks on economic growth came ahead of the Federal Reserve announcing a hike in interest rates Wednesday... Read More.
(MENLO, Iowa) -- President Joe Biden traveled to Iowa on Tuesday for his first time as president to announce new efforts to bring down gas prices as the administration faces an 8.5% jump in the consumer price index compared to a year ago, which... Read More.
(LONDON) -- Mass protests have broken out in Kazakhstan, triggered by a sharp rise in fuel prices in the Central Asian country. Videos posted on social media show thousands of people gathering in cities across the country on Tuesday, in some places clashing violently with... Read More.
(NORTH PORT, Fla.) -- A massive search is continuing in Florida for Brian Laundrie, the boyfriend of Gabby Petito, the 22-year-old woman who went missing on a cross-country trip and who authorities confirmed as the body discovered in the Bridger-Teton National Forest in Wyoming. The... Read More.
(WASHINGTON) -- Gas stations are running out of fuel in Southeastern cities and long lines are forming across the country as panic buying ensues following the crippling cyberattack on the nation's top fuel pipeline network. Ashish Desai, an employee at BP station in Charlotte, North... Read More.
BY: MEREDITH DELISO, ABC NEWS (LOS ANGELES) — A Southern California woman who never returned from a hike last weekend has been found dead, authorities said. Narineh Avakian, 37, of Glendale, California, was found dead Saturday at about 1:30 p.m. after nearly a week... Read More.