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Jun 09 2023
The Federal Reserve is likely to temporarily pause its aggressive interest rate hikes when it meets next week, experts predict. But consumers may not see any relief.
The central bank has raised interest rates 10 times since last year — the fastest pace of tightening since the early 1980s — only to see inflation stay well above its 2% target.
“We are living in uncharted territoryCNBC
May 19 2023
The era of higher interest rates may not last long if a new analysis from the Federal Reserve Bank of New York is accurate.
The regional Fed bank published estimates on Friday finding that the short-term interest rate that would go along with stable inflation and employment is under 1%. That is far lower than the Fed's current target of 5% to 5.25%.Washington Examiner
Sep 15 2023
Oregon’s unemployment rate stayed at 3.4% in August, the same as July. This tied Oregon’s record low of 3.4%, which also was reached in November and December 2019. Since May, Oregon’s unemployment rate has been below 4%. The U.S. unemployment rate rose from 3.5% in July to 3.8% in August. In August, Oregon’s seasonally adjusted nonfarm payroll employment declined by 1,200 jobs, following aMy Central Oregon
Sep 26 2023
PROVIDENCE, R.I. (WPRI) — With the colder weather on the way, Rhode Islanders could see an increase in their electricity bill come next month. Rhode Island Energy proposed new electric rates back in July and a final vote on the changes is expected on Tuesday. Under the proposed rate, the average residential household would see their monthly utility bill jump by $32.29, which is an increase ofWPRI 12
Jun 21 2023
Nearly All Fed Officials Expect More Interest Rate Hikes Will Be 'Appropriate' This Year, Powell Says
Federal Reserve chairman Jerome Powell said Wednesday nearly all central bank officials agree more interest rate increases will be “appropriate,” dampening Wall Street’s hopes of a Fed pause. “It will take time… for the full effects of monetary restraint to be realized, especially on inflation,” Powell said in prepared remarks released ahead of his testimony before Congress beginning at 10 a.mForbes
Sep 21 2023
The Bank of England has brought the most aggressive cycle of interest-rate rises in more than three decades to a close amid falling inflation and mounting fears of recession. The central bank held its key rate at 5.25%, ending a series of 14 successive hikes since December 2021, when rates were just 0.1%. Five members of the Monetary Policy Committee voted to leave rates unchanged and fourBloomberg
Sep 20 2023
In August, the Bank of England increased interest rates for the 14th time in a row. LONDON — The Bank of England's next monetary policy move is now wide open, following a significant downside surprise in the August inflation print out earlier on Wednesday. Prior to the August consumer price index reading, the market was pricing in an 80% chance that the central bank would hike interest ratesCNBC
Aug 30 2023
Dogs are completely banned from Rehoboth's beach and boardwalk during the summer season, but a new poll is aiming to see if Rehoboth's visitors are willing to share space with their canine friends during off-peak hours. The City of Rehoboth recently launched a new website, which includes a "Hot Topics" poll, which for the month of September focuses on Rehoboth's May 1-Septmber 30 complete dogWDEL
Sep 20 2023
The Federal Reserve on Wednesday held interest rates steady for the second time this year, pausing its tightening campaign to assess how the economy is faring in the face of higher borrowing costs.
The widely expected decision left interest rates unchanged at a range of 5.25% to 5.5%, the highest level since 2001. But policymakers also left the door open to an additional increaseFox Business
Sep 18 2023
A person of interest has been detained in the suspected ambush killing of a newly-engaged Los Angeles County sheriff’s deputy in his patrol car, officials said Monday. The sheriff’s office announced the update in the death of Ryan Clinkunbroomer, but no information was immediately available on the person of interest or the circumstances. The sheriff’s office said in an early-morning post on XNew York Post (News)