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Cooling in the economy appears to have “partly reversed” based on recent data on jobs, consumer spending, production and inflation, Federal Reserve Chair Jerome H. Powell told Congress on Tuesday, suggesting the central bank could keep raising interest rates more aggressively than expected just a few months ago.

“The latest economic data have come in stronger than expected, which

For some critics of the rate hike effort over the past year, the collapse of the banks adds to their fears that the Fed’s push could destabilize the broader economy. Fed monetary policymakers have had to weigh continuing their aggressive fight on still-high inflation against concerns about the stability of US banks, whose finances have been rocked by those fast-rising interest rates over the

The Federal Reserve is set to announce on Wednesday whether it will impose another interest rate hike, the central bank's latest move in a monthslong fight that has eased inflation but risks plunging the U.S. into a recession.

The Fed has put forward a string of borrowing cost increases as it tries to slash price hikes by slowing the economy and choking off demand. The approach, however

The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, further slowing its aggressive campaign to cool the economy amid growing evidence that stubbornly high inflation is finally starting to ease. 

The widely expected move puts the key benchmark federal funds rate at a range of 4.5% to 4.75%, the highest since 2007, from near zero in March 2022. It