AllSides Balanced Search reveals information and ideas from all sides of the political spectrum so you can get the full picture.
May 03 2023
News
Federal Reserve Unveils Quarter-Point Target Interest Rate Hike As Banking System Reels
Officials at the Federal Reserve announced a 0.25% increase in the target federal funds rate on Wednesday, marking a slowdown from previous rate hikes meant to combat inflation, even as the financial sector contends with the collapse of three medium-sized regional banks. Rate hikes increase the cost of borrowing money, decreasing inflationary pressures as consumers and businesses assume less
The Daily Wire
May 03 2023
News
Fed raises interest rates 0.25%, escalating inflation fight amid banking woes
ABC News (Online)
May 03 2023
News
Fed raises interest rate a quarter-point; 10th hike in past year to fight inflation
The Federal Reserve raised a key interest rate Wednesday by a quarter percentage point, the 10th increase in just over a year that is hitting consumers with higher costs for home mortgages, auto loans and credit card balances.
The central bank said the action was needed to curb inflation that was at 5% in March. Inflation has come down from 8.5% a year ago, but is still more than twice
Washington Times
Mar 22 2023
News
Fed raises interest rates a quarter point despite recent banking turmoil
The Federal Reserve on Wednesday raised its benchmark interest rate by a quarter of a point, forging ahead with its fight against stubborn inflation despite a spate of bank failures and a growing crisis within the financial sector.
The unanimous decision puts the key benchmark federal funds rate at a range of 4.75% to 5%, the highest since 2007, from near zero just one year ago. It
Fox Business
May 03 2023
News
Fed raises interest rate to highest level in 16 years, signals it could pause streak of 10 straight hikes
The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. But the Fed also signaled that it may now pause the streak of 10 rate hikes that have made borrowing for consumers and businesses steadily more expensive. In a statement after its latest policy meeting, the Fed removed a previous
Fortune
Feb 01 2023
News
Fed expected to raise interest rate amid recession fears
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
ABC News (Online)
Mar 22 2023
News
Fed threads the needle on inflation vs. banking volatility, bumps interest rate .25%
The U.S. Federal Reserve Board entered its meeting this week to consider further adjustments to its benchmark lending rate facing a harsh fiscal double bind. Continue its streak of interest rate hikes to battle ongoing U.S. inflation or ease up on the gas in an attempt to calm banking sector volatility that has been driven, at least in part, by escalating interest rates? As was widely expected
Deseret News
Mar 07 2023
News
Fed may need more aggressive interest rate hikes, Powell says
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
Washington Post
Mar 08 2023
News
Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated
Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.
Citing data earlier this year showing that inflation has reversed the deceleration it showed in late 2022, the central bank leader warned of tighter monetary policy ahead to slow a growing economy.
“The latest economic data have
CNBC
Jan 26 2023
News
Economy grew 2.1% in 2022 amid barrage of interest rate hikes
The economy grew 2.1% in 2022, the Bureau of Economic Analysis reported Thursday, a year marked first by recession fears and then by the largest burst of inflation in decades, which prompted a frantic campaign by the Federal Reserve to ease price pressures through interest rate hikes.
The numbers, adjusted for inflation, were driven by gross domestic product growth in second half of the
Washington Examiner