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.

What is the Strategic Petroleum Reserve?

(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.

Mortgage rates soar as Federal Reserve raises rates

(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.

Federal Reserve set for another dramatic rate hike

(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.

Federal Reserve hikes interest rate by 0.75%

(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.

Federal Reserve expected to dramatically hike interest rate

(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.