Federal Reserve approves 0.5% hike, slowing rate increases

(WASHINGTON) -- The Federal Reserve said Wednesday it was raising its short-term borrowing rate another 0.5%, slowing an aggressive series of rate increases while continuing an effort to cool the economy and dial back inflation.The increase in borrowing costs matched economist predictions.The latest rate... Read More.

Federal Reserve approves another 0.75-point rate hike

(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.

Inflation data to show if prices fell amid Fed rate hikes

(WASHINGTON) -- Consumers on Main Street and investors on Wall Street will closely watch the release of inflation data on Thursday. The latest data arrives weeks after the Federal Reserve escalated its fight against inflation with a third consecutive rate increase.The median forecast in... Read More.

What the rate hike will mean for housing

(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.