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Federal Reserve Board Chair Jerome Powell speaks during the Inaugural Conference on the International Roles of the U.S. Dollar at Federal Reserve Board Building, in Washington, Friday, June 17, 2022. (AP Photo/Jose Luis Magana)

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Fed's Powell facing rising criticism for inflation missteps
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/21/22-11:18AM , 459 Reads
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed.
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Credit cards as seen Thursday, July 1, 2021, in Orlando, Fla. Record low-interest mortgages are long gone. Credit card rates will likely rise. You'll pay more for an auto loan. The unusually large three-quarter point hike, Wednesday, June 15, 2022 in the Fed's benchmark short-term rate is going to have a lot of impacts on Americans' finances. The hope is that by making borrowing more expensive, the Fed will succeed in cooling demand for homes, cars and other goods and services and slow inflation. (AP Photo/John Raoux, File)

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This is how a higher Fed rate could affect your finances
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,06/15/22-3:40PM , 383 Reads
WASHINGTON (AP) — Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return.
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Federal Reserve Chairman Jerome Powell speaks during a news conference following an Open Market Committee meeting at the Federal Reserve Board Building, Wednesday, June 15, 2022, in Washington. (AP Photo/Jacquelyn Martin)

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Fed attacks inflation with its largest rate hike since 1994
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/14/22-3:17PM , 353 Reads
WASHINGTON (AP) — The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S.
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People wear face masks as they shop at the Nordstrom Local DTLA downtown Los Angeles on Tuesday, March 15, 2022. Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve is making borrowing much costlier. Home sales are down, and mortgage rates are up. And the economy actually shrank in the first three months of this year. Is the United States at risk of enduring another recession, just two years after emerging from the last one? For now, even the more pessimistic economists don’t foresee any imminent downturn, at least not before next year. (AP Photo/Damian Dovarganes)

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EXPLAINER: Just how high is the risk of another recession?
By CHRISTOPHER RUGABER - AP Economics Writer
Tue,06/14/22-12:26PM , 410 Reads
WASHINGTON (AP) — Inflation is at a 40-year high. Stock prices are sinking. The Federal Reserve has just made borrowing even costlier. And the economy actually shrank in the first three months of this year.

Is the United States at risk of enduring another recession, just two years after emerging from the last one?
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