WASHINGTON ― President Joe Biden on Wednesday celebrated the first anniversary of one of his major legislative achievements to date, the Inflation Reduction Act, taking credit for lower inflation and still-low unemployment as part of a strengthening economy. Now all he has to do is persuade Americans who remain largely convinced that the economy is… Continue reading Biden Celebrates Inflation Reduction Act’s Anniversary
Tag: inflation
Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
Federal Reserve officials expressed concern at their most recent meeting about the pace of inflation and said more rate hikes could be necessary in the future unless conditions change, minutes released Wednesday from the session indicated. That discussion during a two-day July meeting resulted in a quarter percentage point rate hike that markets generally expect… Continue reading Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
Federal Reserve official says more U.S. rate hikes likely will be needed to bring down inflation
The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed’s quarter-point increase in interest rates last month, given still-high inflation, strong consumer spending, a rebound in the housing market and a labor market that is helping to… Continue reading Federal Reserve official says more U.S. rate hikes likely will be needed to bring down inflation