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Federal Reserve Chair Jerome Powell is set to answer questions at a news conference after the rate-decision announcement. WASHINGTON—The Federal Reserve approved another quarter-percentage-point interest-rate rise and signaled it could be done lifting rates after that. The decision Wednesday marked the Fed’s tenth consecutive rate increase aimed at battling inflation and will bring its

It would all seem to spell an economic downturn. Indeed, many consumers would agree that between inflation and tighter credit conditions — and with no more pandemic financial assistance in sight — this is the worst they’ve felt about their finances since Covid-19 swooped in and upended everything. Yet, as the Federal Reserve gets ready to make its latest announcement Wednesday afternoon about

Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve in Washington on March 22, 2023. (Olivier Douliery/AFP via Getty Images) The Federal Reserve raised interest rates by 25 basis points, lifting the benchmark federal funds rate to a range of 5.00 and 5.25 percent, the highest level since September 2007. The vote to raise rates by a quarter point was

“The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession.” (AP News)

The left is hopeful that inflation will soon slow, and cautions against increasing interest rates too