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Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing on Capitol Hill in Washington, Tuesday, March 7, 2023. (AP Photo/Andrew Harnik)

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Powell signals increased rate hikes if economy stays strong
By CHRISTOPHER RUGABER - AP Economics Writer
Mon,03/06/23-5:06PM , 394 Reads
WASHINGTON (AP) — The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a Senate panel Tuesday.
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A potential buyer looks over a 2023 Cooper S sedan on the floor of a Mini dealership Friday, Feb. 17, 2023, in Highlands Ranch, Colo. Over the past year, the Fed has raised its key short-term rate eight times, causing many kinds of consumer and business loans, including auto loans, to become more expensive. (AP Photo/David Zalubowski)

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2023 US recession now expected to start later than predicted
By CHRISTOPHER RUGABER - AP Economics Writer
Sun,02/26/23-4:06PM , 351 Reads
WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S.
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Used car are on display on a lot in Wexford, Pa., Thursday, Sept. 29, 2022. The Commerce Department releases its revised estimate of how the U.S. economy fared in the fourth quarter on Thursday, Feb. 23, 2023. (AP Photo/Gene J. Puskar, File)

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US revises down last quarter's economic growth to 2.7% rate
By CHRISTOPHER RUGABER - AP Economics Writer
Thu,02/23/23-7:34AM , 333 Reads
WASHINGTON (AP) — The U.S.
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FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington.Richmond Federal Reserve President Thomas Barkin on Friday, Feb. 17, 2023 downplayed recent signs that the economy is strengthening, but also said he is prepared to keep raising interest rates in smaller increments as often as needed to quell inflation. (AP Photo/Andrew Harnik, File)

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Fed's Barkin: 'Slow progress' on inflation, sees more hikes
By CHRISTOPHER RUGABER - AP Economics Writer
Fri,02/17/23-10:13AM , 356 Reads
WASHINGTON (AP) — A top Federal Reserve official downplayed recent signs that the economy is strengthening, but also said he is prepared to keep raising interest rates in smaller increments as often as needed to quell inflation.
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