The Federal Reserve is currently engaged in a battle to bring down the nation's inflation rate, which has been rising steadily since 2021. Goldstein is an executive producer at the audio production company Pushkin Industries, where he hosts the business and tech podcast, What's Your Problem? His 2020 book, Money: The True Story of a Made Up Thing, traces the history…
Washington Wire
Federal Reserve officials at their last meeting stressed their commitment to taming“ unacceptably high” inflation before announcing that they were raising their benchmark interest rate by a substantial three-quarters of a point for a third consecutive time and signaling more large rate hikes ahead. The minutes show that the policymakers expressed…
I started lilting weights when I was in graduate school at Cornell University in the early 1970 s. I joined a group, appropriately called the "barbell club" that trained in a small room in the clock tower. The Federal Reserve, also known as the "Fed" which is the central bank of the country is raising interest rates in order to slow the pace of economic growth, cool the…
Federal Reserve Chairman Jerome Powell has gone to considerable effort to convince observers that he will raise interest rates as much and as long as necessary and risk a recession to bring inflation under control. The European Union is distributing and member states are spending about $800 billion in pandemic recovery funds. This program was conceived…
Spend any amount of time online, and you'll be served with ads promising shortcuts and gimmicks to improve your health or credit score. The Federal Reserve touts its arsenal of fancy-sounding tools: Interest rate changes, quantitative easing, and repurchase agreements, to name a few. In his new book, "Taxes Have Consequences," economist Art Laffer examines the…
President Biden pledged to let the Federal Reserve do whatever it takes to bring inflation down. If it goes up a lot, that's really very difficult, "said Charles Evans, president of the Federal Reserve Bank of Chicago, during a Monday conference. As the U.S. economy slows and the global one faces deeper peril, Biden is facing growing pressure to avert a major slowdown…
WASHINGTON- America's employers slowed their hiring in September but still added 263,000 jobs, a solid figure that will likely keep the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation. The jobs report "was still likely too strong to allow policymakers much breathing room," said Matt Peron, director of…
Money manager Cathie Wood's flagship Ark Innovation ETF- Get ARK Innovation ETF Report has a five-year return totaling less than one-third of the S&P 500. Yet she has written an open letter to the Federal Reserve, criticizing its monetary policy. The Fed has raised rates by 3 percentage points since March and has indicated that plenty more is to come.
The economy added 263,000 new jobs in September, a slowdown from the month before but still a sign of strong growth, according to the latest jobs report from the Bureau of Labor Statistics. September's growth was driven primarily by job gains in leisure and hospitality, as well as in health care. "The unemployment rate dipped back to 3.5%, equal to the pre-pandemic…
WASHINGTON— A mixed bag for the economy Friday: The national jobs report for showed a decrease in unemployment but stocks tumbled as investors anticipate more aggressive interest rate hikes from the Federal Reserve. White House economist Jared Bernstein said the report was good news for Americans headed into the holidays. E.J. Antoni, an economist with the…
The Federal Reserve releases minutes from its most recent interest rate policy meeting Wednesday. The Fed has been raising borrowing rates in a bid to crush the highest inflation in decades. The Labor Department delivers its September snapshot of consumer inflation Thursday.
I worked as an economist at the Board of Governors of the Federal Reserve starting in 1985. In 1981 the U.S. economy had been suffering badly since roughly 1979 with stagflation: high inflation with low, stagnant growth. That is when the Federal Reserve under Paul Volcker stepped in.
Ben Sasse will resign from the U.S. Senate to accept the presidency of the University of Florida, returning to academia after representing Nebraska in Washington for eight years. Sasse, a solid conservative Republican vote in the Senate, helped steer new conservative nominees to the U.S. Supreme Court through the Senate Judiciary Committee and onto ultimate…
WASHINGTON, Oct. 7– The Center for Biological Diversity posted the following news release on Oct. 6, 2022:. "These announcements perpetuate the fiction that we can expand fossil fuel developments and still have a chance of avoiding the catastrophes of 1.5 degrees Celsius of warming," said Taylor McKinnon at the Center for Biological Diversity.
But what business managers, policymakers, investors and economists want to know is this: How cool would be cool enough for the inflation fighters at the Federal Reserve to begin to ease their aggressive interest rate hikes? The Fed is engaged in an epic battle to rein in inflation, which was running at a 40- year high in June and has eased only slightly since.
The seesawing premiums have seniors paying $5.20 less per month for 2023 than they're paying this year, but $16.40 more compared with 2021.. In a Sept. 27 Rose Garden speech, in which Biden touted provisions in the Inflation Reduction Act that will lower prescription drug costs for some Medicare beneficiaries, the president added that there was more good news…
Becky Harris and Tom Kuntz are in different parts of the country. Other things are starting to let up, and we are able to get them earlier, "said Kuntz, president of Red Lodge Restaurants in Red Lodge, Montana. The company operates restaurants and bars near Yellowstone National Park.
Texas manufacturers increased production and hired robustly last month, but the outlook is darkening as interest rates rise, orders shrink and confidence falters, according to a new survey from the Federal Reserve Bank of Dallas. More manufacturers reported increasing production than reducing it, according to the survey. The Federal Reserve last weeks…
This year, the Federal Reserve has raised interest rates by 75 basis points, or three-quarters of a percentage point, at three consecutive policy meetings, while leaving room for more hikes to come. In Congress, progressives like Sen. Elizabeth Warren of Massachusetts have been especially vocal in their ire.
