U.S. Economy

Fed Officials See Higher Rates for ‘Some Time’ Ahead

Federal Reserve officials are committed to fighting inflation and expect higher interest rates to remain in place until more progress is made, according to minutes released Wednesday from the central bank’s December meeting.

U.S. Economy

U.S. Pours Money Into Chips, but Even Soaring Spending Has Limits

Amid a tech cold war with China, U.S. companies have pledged nearly $200 billion for chip manufacturing projects since early 2020. But the investments are not a silver bullet.

U.S. Economy

Elon Musk in His Twitter Urges Fed to Stop Its Jumbo Rate Hikes

World’s richest man Elon Musk thinks the recession will be amplified if the U.S.

U.S. Economy

Most Federal Reserve Officials Back Slower Rate Rises Going Forward

A “substantial majority” of Federal Reserve officials support slowing down the pace of interest rate rises soon,

U.S. Economy

Key events this week: U.S. Fed, BoE interest rate decisions; U.S. jobs report, UK PMI, Eurozone inflation and more

The central banks of India, the United Kingdom, and the United States will meet in the upcoming week.

U.S. Economy

America’s Record Public Debt is About to Hit Recently Upshifted Ceiling

At $31.1 trillion, outstanding public debt is getting closer to the $31.4 trillion debt ceiling Congress imposed until early 2023.

U.S. Economy

U.S. Job Reports are Key Again to Assess Likelihood of Jumbo Rate Hikes Going Forward

Investors have been focusing on Friday’s jobs report for September for clues as to whether the Fed might keep up its pace of outsize rate hikes in the face of robust wage gains that have been fueling inflation.

U.S. Economy

No Relief for Bruised Markets as Fed Signals Higher Rates for Longer

A Federal Reserve dead-set on fighting inflation is leaving little hope that this year’s rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than many investors were expecting.

U.S. Economy

Ray Dalio Foresees Persistent Inflation, Higher Rates, Slower Growth

Ray Dalio has little positive to say about what’s happening in the US economy, and what that means for the outlook for equities, given that inflation is running well above what most people and central bankers want.

U.S. Economy

Student Loan Forgiveness in Hands of "Understaffed and Overcommitted" Agency

The implementation of President Biden's widespread, income-targeted student loan forgiveness is shaping up to be a bureaucratic challenge for the U.S. Department of Education.

U.S. Economy

Fed Minutes Show More Rate Hikes Coming, but Pace Could Slow

According to the minutes of their July 26-27 policy meeting

U.S. Economy

Mortgage Demand Drops to 22-year Low as Higher Interest Rates and Inflation Crush Homebuyers

Surging inflation and interest rates are hammering American consumers and weighing on the housing market.

U.S. Economy

Inflation Spiked 9.1% In June – Hitting New 40-Year High As Price Surge Fuels Recession Fears

Overall prices rose 1.3% from May – surpassing the 1.1% economists were expecting and much higher than the previous month’s increase of 1%, according to data released by the Labor Department on Wednesday.