
Get ready for even bigger rate hikes from the Fed
CNN
The jobs market is still healthy and paychecks are growing at a solid rate — although not fast enough to make up for surging prices on just about everything. That means that the Federal Reserve is increasingly certain to raise interest rates in May by a half-point to halt inflation in its tracks.
Traders are pricing in a more than 75% chance that the Fed will lift its key short-term rate from its current range of 0.25% to 0.5% up to 0.75% to 1% when the central bank wraps up its next meeting on May 4.

Andrew Cuomo will not drop out of the New York City mayoral race by the Friday deadline to remove himself from the general election ballot, CNN has learned. That leaves in place contingency plans he had established before the Democratic primary to challenge Zohran Mamdani and incumbent Mayor Eric Adams in November.