Fed Raises Rates by 0.75 Percentage Point, Largest Increase Since 1994
The Federal Reserve is stepping up its war on inflation. That means borrowing costs are going sharply higher for families and businesses.
Economy
![Fed Raises Rates by 0.75 Percentage Point, Largest Increase Since 1994]()
![Surging inflation clears way for biggest Fed hike in years]()
Surging inflation clears way for biggest Fed hike in years
More than a year later, price increases at 40-year peaks have come to be anything but, so much so that the Fed this week appears ready to hike interest rates by the most since 1994 to quell them. Biden, meanwhile, is paying the political price for being the face Americans blame for $5 a gallon gas and 10% price increases for eggs.
World shares steady after Wall Street sinks into bear market
World shares inched higher and Wall Street was tipped for a stronger open on Tuesday, as U.S. Treasury yields steadied at multi-year highs following the worst selloff in years.
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High gas prices bring demand for fuel to record lows ahead of peak driving season
According to data by the Energy Information Administration compiled by Bloomberg, demand for gas has hit its lowest level during this time since 2013, excluding the impacts of the ongoing COVID-19 pandemic.
![High gas prices bring demand for fuel to record lows ahead of peak driving season]()
Gas prices pass $4 per gallon in every U.S. state for the first time
Tuesday, the average price of a gallon of regular unleaded gas has now risen above $4 a gallon in all 50 states. That's the first time every single state has passed the $4 mark at once.
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McDonald’s to sell its business in Russia after 30 years
Fast food chain to fully exit country after invasion of Ukraine
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U.S. Inflation rate slows to 8.3% after gas prices fall but stays close to 40-year high –as
U.S. consumer price growth slowed sharply in April as gasoline eased off record highs, suggesting inflation has probably peaked, though it is likely to stay hot for a while and keep the Federal Reserve's foot on the brakes to cool demand.
![U.S. Inflation rate slows to 8.3% after gas prices fall but stays close to 40-year high –as]()
Fed raises key rate by a half-point in bid to tame inflation
US makes biggest interest rate rise in 22 years
![Fed raises key rate by a half-point in bid to tame inflation]()
