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The Federal Reserve said it doesn't plan to cut rates until it has "greater confidence" inflation is slowing to its 2% target. Read more.

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Wall Street traders sent stocks and bonds sliding after another hotter-than-estimated inflation report signaled the Federal Reserve will be in no rush to cut interest rates this year.

(Bloomberg) — The stock market ended the week on a positive note after a blowout jobs report signaled the US economy will continue to power Corporate America — even if that means the potential for still elevated interest rates. All major groups in the S&P 500 gained, with the gauge rising more than 1%. Wall…