The Federal Reserve voted unanimously to raise interest rates by a quarter point Wednesday, the tenth rate hike since the central bank started its battle against inflation last March.
Higher prices for food and rents were offset by appreciable drops in energy costs, leaving the inflation rate unchanged over the last two months throughout the Riverside metropolitan area, according to a report released Wednesday by the U.S. Bureau of Labor Statistics.
Price inflation throughout the Riverside metropolitan area jumped 7.3% over the last year and was up more than 1% just in the last two months, fueled by higher energy expenses, according to a report released Tuesday by the U.S. Bureau of Labor Statistics.
The Federal Reserve could pull back on the pace of its aggressive rate hikes as soon as December, Fed Chairman Jerome Powell said Wednesday at an economic forum.
(CNN) — The Federal Reserve slashed interest rates by half a percentage point on Tuesday, a bold attempt to give the US economy a jolt in the face of concerns about the coronavirus outbreak. It was the first unscheduled, emergency rate cut since 2008, and it also marks the biggest one-time cut since then. The […]
The Federal Reserve on Wednesday cut interest rates for the second time in two months amid growing worries about a potential global slowdown. Officials also left the door open for a further rate cut this year, reinforcing the message by Fed chairman Jerome Powell that policymakers would do whatever necessary to prevent a recession. The […]
