Tag: interest rates
Inflation pressures put Powell in spotlight before Congress
WASHINGTON (AP) – When Federal Reserve Chair Jerome Powell last appeared before Congress, in June 2022, inflation had reached a four-decade high of nearly...
U.S. revises down last quarter’s economic growth to 2.7% rate
WASHINGTON (AP) – The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and...
Fed’s Barkin: ‘Slow progress’ on inflation, sees more hikes
WASHINGTON (AP) – A top Federal Reserve official downplayed recent signs that the economy is strengthening, but also said he is prepared to keep...
U.S. adds a surprisingly strong 517,000 jobs despite Fed hikes
WASHINGTON (AP) – America's employers added a stunning 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve's aggressive...
U.S. wage growth slowed in the final quarter of 2022
WASHINGTON (AP) – Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022,...
Average long-term mortgage rate at lowest level in 4 months
The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher...
U.S. hiring stays brisk as employers add 223,000 jobs
WASHINGTON (AP) – America's employers added a solid 223,000 jobs in December, evidence that the economy remains healthy yet also a sign that the...
U.S. jobless claim applications fall to lowest in 14 weeks
WASHINGTON (AP) – The number of Americans applying for jobless benefits fell to the lowest level in more than three months last week, reflecting...
Fed raises key rate by half-point and signals more to come
WASHINGTON (AP) – The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and...
CoreLogic: R.I. home price index up 10.4% Y/Y in October
PROVIDENCE – The Rhode Island home price index increased 10.4% year over year in October, slightly higher than the national growth rate of 10.1%,...
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