Powell stopped short of saying the Fed's policymakers have committed to resuming their rate hikes when they next meet in late July
A worse-than-expected inflation report for May — consumer prices rocketed up 8.6 per cent from a year earlier, the biggest jump since 1981 — helped spur the Fed to raise its benchmark interest rate by three-quarters of...
The S&P 500 sank 2.8 per cent and marked its third losing week in a row. The Dow Jones Industrial Average slumped 2.8 per cent, its biggest drop in 18 months, after briefly skidding more than 1,000 points
An economic downturn is still possible. Yet in recent weeks, with inflation showing widespread signs of easing, a more cheerful view has gained traction: Maybe a recession isn't inevitable after all
Selling pressure increases after US Fed rate hike, hitting cryptocurrencies, including Bitcoin, Ethereum, Shiba Inu and Dogecoin.
The Fed's move will raise its key rate, which affects many consumer and business loans, to a range of 2.25 per cent to 2.5 per cent, its highest level since 2018