US economy

Fed again raises U.S. interest rate by 75 basis points

Fed again raises U.S. interest rate by 75 basis points

The U.S. Federal Reserve raised the benchmark interest rate by 75 basis points for the second consecutive month on Wednesday as it intensifies the fight against 40-year-high inflation. The Federal Open Market Committee voted unanimously …

Yellen: U.S. economy slowing, but recession not inevitable

Yellen: U.S. economy slowing, but recession not inevitable

U.S. Treasury Secretary Janet Yellen said on Sunday that U.S. economic growth is slowing and she acknowledged the risk of a recession, but she said a downturn was not inevitable. Yellen, speaking on NBC's "Meet the Press," …

U.S. Fed hikes interest rates for first time since 2018

U.S. Fed hikes interest rates for first time since 2018

The U.S. Federal Reserve raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic …

Biden: U.S. risks losing its economic advantage

Biden: U.S. risks losing its economic advantage

U.S. President Joe Biden warned the country risks losing its economic advantage in the world without large-scale investments in its own infrastructure. "We’re at an inflection point. Every — anywhere from 40 to 80 years …

 U.S. on a path to default

U.S. on a path to default

The U.S. debt ceiling officially became operative again on Sunday after a two-year suspension, with lawmakers in Washington yet to outline how they’ll avoid a potential default later this year. The debt limit - the total …

U.S. Fed holds rates near zero

U.S. Fed holds rates near zero

The U.S. Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day …

U.S. keeps ultra-low interest rate policies in place

U.S. keeps ultra-low interest rate policies in place

The U.S. Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the U.S. economy's growing strength but giving no sign it was ready to reduce its support for the recovery. The Fed …

Biden eyeing capital gains tax as high as 43.4% for wealthy

Biden eyeing capital gains tax as high as 43.4% for wealthy

U.S. President Joe Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6% to help pay for a raft of social spending that addresses long-standing inequality, according to people familiar with the …

S&P 500 logs first record close in 6 months

S&P 500 logs first record close in 6 months

The S&P 500 (SPX) closed at an all-time high on Tuesday for the first time since the Covid-19 pandemic hit the United States. The index, which is the broadest measure of Wall Street, had been hovering in record territory for …

U.S. Federal Reserve leaves key interest rate unchanged

U.S. Federal Reserve leaves key interest rate unchanged

The U.S. Federal Reserve moved to hold its key interest rate steady amid what it said is "tremendous human and economic hardship across" the U.S. caused by the coronavirus pandemic. The fed was widely expected to continue …

Fed's Kashkari: U.S. recovery to be bumpy and muted

Fed's Kashkari: U.S. recovery to be bumpy and muted

With cases of Covid-19 likely to resurge, at least in some parts of the country, the U.S. economic recovery will be neither smooth nor strong, Minneapolis Federal Reserve Bank President Neel Kashkari said. "My base-case …

Trump blasts Fed for being 'wrong so often'

Trump blasts Fed for being 'wrong so often'

U.S. President Donald Trump launched his first attack against the Federal Reserve in months, taking issue with the central bank’s subdued economic forecast. "The Federal Reserve is wrong so often," Trump wrote on …

U.S. Fed keeps base interest rate at 0-0.25%

U.S. Fed keeps base interest rate at 0-0.25%

The U.S. Federal Reserve System acting as the national central bank has kept the base interest rate at the level of 0-0.25% as expected by the market, the Federal Open Market Committee (FOMC) said after the meeting. "The …

U.S. Fed slashes rates to cushion coronavirus blow

U.S. Fed slashes rates to cushion coronavirus blow

The U.S. Federal Reserve and global central banks moved aggressively to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to 0.25%. The Fed lowered the primary credit rate by …

U.S. Fed cuts interest rates

U.S. Fed cuts interest rates

The U.S. Federal Reserve cut interest rates for the third time this year to help sustain U.S. growth despite a slowdown in other parts of the world, but signaled there would be no further reductions unless the economy takes a turn for the …