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The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.
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With inflation at a four-decade high, a growing number of forecasters worry the U.S. economy may be headed to a recession as the Fed gears up to raise interest rates aggressively.
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Biden's pick to be the Fed's top bank regulator has withdrawn her nomination. She attracted Republican opposition after calling on bank regulators to monitor the financial risks from climate change.
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In an attempt to curb high inflation, the Federal Reserve is expected this week to begin raising interest rates for the first time in three years.
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U.S. employers added 678,000 jobs in February as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.
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Republicans boycotted a meeting of the Senate Banking Committee Tuesday, delaying a vote on five nominees to the Fed's board. The move was aimed at one nominee: Sarah Bloom Raskin.
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The Federal Reserve is gearing up to raise interest rates after inflation hit a 40-year high, sparking fears in Wall Street about what these steps will mean for the economy.
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President Biden has tapped Jerome Powell to serve a second term as chairman of the Federal Reserve as the economy faces huge challenges, including surging inflation.
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The Fed left interest rates near zero on Wednesday but announced plans to start removing some of the support it has provided to the economy as inflation hits its highest point in 30 years.
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President Biden has a big decision to make: Whether to reappoint Jerome Powell to a second term as Federal Reserve chairman or choose someone else for one of the world's most powerful economic jobs.
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The fight intensifies over how race and history are taught in Florida schools. The state’s economy keeps improving. And squaring off with social media speech.
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City National Bank of Florida was one of the most prolific lenders of government rescue money during the pandemic.