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Hot dog sausages are seen in a supermarket, as inflation continues to hit consumers with the annual CPI increasing 8.3% in the 12 months through April, in Los Angeles, California, U.S. May 27, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register June 2 (Reuters) – The […]
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Consultant says Kingsport has one of the worst water rate structures ever seen | News
Kingsport has a water rate problem. A local government consulting firm said it’s so bad that the consultants had never seen anything like it. “This is one of the more, truthfully, one of the most complicated rate structures we’ve seen,” said Delaney Ridgely, a consultant with Raftelis, a consulting firm […]
Despite the Fed’s big rate hike, most banks won’t pay much in interest
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks to tame inflation. The central bank’s actions mean that, in an era of sharply rising […]
Fed to Fight Inflation With Fastest Rate Hikes in Decades | Business News
By CHRISTOPHER RUGABER, AP Economics Writer WASHINGTON (AP) — The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of […]
Volatility surge causes liquidity strain in rate options market as Fed tightens
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NEW YORK, April 6 (Reuters) – A surge in hedging to protect against aggressive Federal Reserve tightening has caused liquidity problems in the interest rate options sector, reflecting a trend that has been going on in some parts of the bond market. Strong demand has hoisted volatility on so-called swaptions, […]
Fed officials discussed 50 basis point rate hike despite Russia invasion
Several Federal Reserve Board members favored a more aggressive interest rate hike in March to kick off a series of increases this year, but policymakers ultimately held back given such high uncertainty tied to the war in Ukraine, according to minutes from the Fed’s most recent policy meeting. When policymakers […]
Unemployment rate fell to 3.6% in March as jobs report showed big gain
U.S. employers added a booming 431,000 jobs in March as tumbling COVID-19 cases more than offset concerns about soaring inflation and the war in Ukraine. The unemployment rate fell from 3.8% to 3.6%, the Labor Department said Friday. That puts it just above the 50-year low of 3.5% just before the pandemic upended […]
Credit card debt will cost you more with the Fed’s interest rate hikes (video)
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Last week the Federal Reserve raised its federal funds rate by one quarter of a percentage point after the consumer price index soared to 7.9% in February, reaching a 40-year high. It’s the first increase in borrowing costs since 2018 and it will be one of several hikes this year. […]
UK economy expands at fastest rate in 80 years | Business and Economy News
The U.K. economy expanded at the fastest pace since World War II last year after suffering a milder hit than expected in December. The 7.5% expansion was the largest since 1941 and made Britain the fastest-growing advanced economy in 2021. The economy nonetheless remained smaller in the fourth quarter than […]
The US Economy Grew at Its Fastest Rate Last Year Since 1984
The US economy grew 5.7% throughout last year, the fastest expansion since 1984. That puts Biden in the same ranks as Reagan, who saw similar growth after the early-’80s recessions. Biden’s scorecard is marred by high inflation, but the Fed’s fight against rising prices just began. Loading Something is loading. […]