Federal Reserve hikes interest rates for the first time since 2018
CNN
The Federal Reserve is raising interest rates for the first time since 2018, the central bank announced Wednesday at the conclusion of its highly anticipated two-day monetary policy meeting.
The move marks the end of the Fed's pandemic-era easy money policy and comes amid soaring inflation across America. The federal funds rate now stands at 0.25-0.5%.
The quarter-percentage-point increase had been well telegraphed by the central bank, with Chair Pro Tempore Jerome Powell hinting at it repeatedly over the past few months. Earlier this month, Powell told lawmakers that he favored a quarter-point raise.
Two decades ago, a modest snack stall in the middle of one’s China poorest provinces saw its business take off after selling cut-price soft serve for just 15 cents (1 yuan) per cone. Today, it has overtaken McDonald’s and Starbucks as the world’s largest food and beverage chain by number of stores.
U.S. President Donald Trump announced the names of five digital assets he expects to include in a new U.S. crypto strategic reserve on Sunday, spiking the market value of each.
Commerce Secretary Howard Lutnick said Sunday he expects the United States to impose tariffs on Canada and Mexico on Tuesday, but said President Donald Trump will determine the levels in a “fluid situation.”
American consumers don’t need to fret about President Donald Trump’s tariffs on aluminum raising the price of their can of soda.
President Donald Trump signed another executive action that directs his administration to investigate potential instances of what he deems unfair trade practices for lumber the United States imports.
The Trump administration is cracking down on immigration — legal and otherwise — setting the stage for potential labor shortages, weaker economic growth and higher inflation.
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Tariffs on Canadian and Mexican imports are looming again. And that could quickly send car prices soaring, even for those assembled in the United States.
A tentative thaw in ice-cold US-Russia relations is paving the way for American companies to do what, until recently, seemed unthinkable — return to the country three years after they left in droves.
US stocks seesawed Friday, but all three major indexes closed the month in the red — a sign of increasing unease in markets.