The increase will be the Fed’s fourth rate hike to help cool down the economy and lower prices, which are surging at 40-year highs.
the fourth hikeSo far, the Fed has seen few reassurances that its souped-up rate hikes are working, with households feeling the strain of costlier rent, groceries and gas. Inflation in Juneforcefully to slow the economy.
“The Fed is now stuck between a rock and a hard place, with no easy way out without the economy feeling pain,” Diane Swonk, chief economist at KPMG, wrote in an analyst note this week. “Fed Chairman [Jerome H. Powell] has started to underscore that reality by admitting a recession could occur.”Interest rates are the Fed’s most important
tool for combating inflation. Higher rates make a range of lending — including mortgages and business loans — more expensive and are designed to cool demand in the economy.has already started slowing down parts of the economy. Chief among them: The run-up in rates is taming theA cool-down is apparent in other parts of the economy as well.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Feds suing poultry producers over unfair worker practicesThe Justice Department is expected to file a lawsuit against some of the largest poultry producers in the United States. It's part of an effort to end what the government says are longstanding deceptive and abusive practices for workers.
Read more »
Dedo's Crime Corner: Feds make huge drug bust, armed robbers caught on camera at pawn shopPawnshop robbers caught on camera in South Seattle, a man shot in an apartment in Northgate, Lacey Police searching for copper wire thief, federal agents seize $3.6 million in drug bust, and a domestic abuser caught by K-9.
Read more »
Feds investigate USC student's complaint of anti-SemitismLOS ANGELES (AP) — The U.S. Department of Education will investigate the University of Southern California after a Jewish student claimed she resigned from student government because she endured harassment over her pro-Israel views.
Read more »
Feds sue poultry producers, alleging unfair worker practicesIn its lawsuit, the Justice Department alleges the companies have been engaged in a multiyear conspiracy to exchange information about the wages and benefits of workers at poultry processing plants to drive down employee competition in the marketplace.
Read more »
Feds Sue Poultry Producers, Alleging Unfair Worker PracticesThe Justice Department alleges the companies have been engaged in a multiyear conspiracy to exchange information about the wages and benefits of workers at poultry processing plants to drive down employee competition in the marketplace.
Read more »
Feds sue poultry producers, alleging unfair worker practicesAs part of the settlement, certain farms would be prohibited from reducing base payments to chicken growers as a way to penalize them for under-performance. It would also allow the companies to offer incentives and bonuses to growers. Full story
Read more »