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After a brutal week for markets, Fed Chair Jerome Powell will testify before Congress about the central bank’s increasingly aggressive plan to fight...
The central bank imposed its largest rate hike since 1994 in a bid to curb inflation.
U.S. Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession.
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades.
View the The Gazette for Thursday, June 16, 2022