Dow plunges more than 1,000 points amid fears over higher interest rates
The markets fell a day after the Fed announced its plan to fight inflation. Here's why.
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The markets fell a day after the Fed announced its plan to fight inflation. Here's why.
The Federal Reserve is expected to ratchet up its fight to tame red-hot inflation this week with the first double-sized rate hike in two decades, a move that threatens to slow U.S. economic growth and exacerbate financial pressure on Americans.
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Fed Chairman Jerome Powell has pivoted sharply on inflation, transforming into a policy hawk in the months since he conceded that rising prices had proven to be more powerful and persistent than initially expected.
The Federal Reserve is preparing to tackle soaring inflation with a more decisive approach and has announced the first double-size rate increase in 20 years.