Industry News

Powell: Inflation Fight May Cause Recession

Powell: Inflation Fight May Cause Recession

By Christopher Rugaber | The Associated Press | September 22, 2022 | Reprints | Unlock Link

Intensifying its fight against chronically high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time, an aggressive pace that is heightening the risk of an eventual recession.

How Much ‘Pain’ Will the Fed Try to Cause?

How Much ‘Pain’ Will the Fed Try to Cause?

By Christopher Rugaber | The Associated Press | September 20, 2022 | Reprints

On Wednesday, Americans may get a better sense of how much could be in store, with economists predicting the Fed’s main interest rate could rise another full percentage point by year’s end.

Treasury Recommends Exploring Creation of a Digital Dollar

Treasury Recommends Exploring Creation of a Digital Dollar

By Fatima Hussein | The Associated Press | September 19, 2022 | Reprints

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system.