(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.
(NEW YORK) -- As rising gas prices strain the budgets of many Americans, President Joe Biden announced on Wednesday moves that aim to address the oil supply shortage behind the cost spike. Most notably, the announcement includes the release of 15 million barrels of oil... Read More.
(WASHINGTON) -- President Joe Biden on Wednesday announced a series of steps aimed at easing the oil supply crunch and lower gas prices, which have become a major domestic concern ahead of the November midterms. Biden confirmed the release of 15 million barrels from the... Read More.
(WASHINGTON) -- President Joe Biden on Wednesday will announce a series of steps that, administration officials say, will address the oil supply crunch and lower gas prices, which have become a major domestic concern ahead of the November midterms. ABC News previously reported that among... Read More.
(NEW YORK) -- This week, mortgage rates in the United States reached a 16-year high in response to rising interest rates. Back in September, President Joe Biden told a reporter that the "pandemic is over." While doctors and infectious disease specialists debated whether this was... Read More.
(JACKSON HOLE, Wyo.) -- Federal Reserve Chair Jerome Powell vowed to fight inflation "forcefully" in remarks on Friday at the central bank's annual summer gathering in Jackson Hole, Wyoming. The Fed is weighing whether a large rate increase will be necessary at the central bank's... 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.
(WASHINGTON) -- The Federal Reserve raised interest rates significantly on Wednesday, hiking it 0.75%, escalating a strategy of increased borrowing costs that aims to dial back historic inflation. The rate hike of 0.75% marks the largest increase since 1994. The dramatic rate increase follows new... 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.
(NEW YORK) -- The Federal Reserve raised interest rates by a quarter percent on Wednesday, marking the first interest rate hike since 2018. The move is intended to help curb rising inflation, and it’s anticipated that the fed will do this another six times this... Read More.
(NEW YORK) -- The White House announcement Tuesday that the U.S is taking the rare step of releasing oil from the nation's strategic reserve in an attempt to lower gas prices comes as inflation-battered Americans are feeling the pinch at the pump ahead of... Read More.
(WASHINGTON) -- The White House said Tuesday that President Joe Biden will tap into the nation's strategic oil reserve to help offset a surge in gasoline prices. Biden, facing rising consumer discontent ahead of the Thanksgiving holiday, will make the formal announcement in remarks Tuesday... Read More.