Federal Reserve raises interest rates for the first time since 2023
The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
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The Fed increased its benchmark rate by 0.25 percentage points to battle resurgent inflation driven by soaring energy prices.
The report comes at a pivotal moment for the Federal Reserve, which is scheduled to meet next week to decide whether to hike interest rates.
The Federal Reserve is expected to make its first interest rate decision of 2026 on Wednesday.
The Federal Reserve on Wednesday cut interest rates by 0.25 percentage points amid a weaker labor market.
The Federal Reserve is scheduled to meet Wednesday and economists are predicting new rate cuts.
After raising rates from zero to 5% in 15 months, the central bank is pausing to assess the economic impact of monetary tightening.
The central bank on Wednesday said it is increasing rates by 0.75 percentage point, its sixth boost this year.
The central bank said it is boosting rates by 0.75 percentage point. Expect to pay more for credit card debt and loans.
The 30-year fixed-rate mortgage averaged 5.27% in the week ending May 5, up from 5.10% the week before. It is the highest since 2009 and well above the 2.96% average from this time last year.
U.S. employers advertised the most open jobs in nine months in April but pulled back on filling them, a sign of caution that may reflect concerns about tepid economic growth.
A man from Bangladesh is under arrest, accused of trying to detonate a 1,000-lb. car bomb in the middle of Manhattan. He told undercover Federal Bureau of Investigation (FBI) agents, he wanted to destroy America. WJZ learns he also considered a strike right here in Baltimore.
A Bangladeshi man who came to the United States to wage jihad was arrested in an elaborate FBI sting on Wednesday after attempting to blow up a fake car bomb outside the Federal Reserve building in Manhattan, authorities said.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
