The Fed Increases Interest Rates to a 14-Year High
The US Central Bank has announced another sharp hike in interest rates as prices continue to rise.
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Federal Reserve
Federal Reserve’s Barkin Warns Further Interest Rate Increases Are Necessary
On Friday, Richmond Federal Reserve President Thomas Barkin warned that further interest rate increases will be necessary to reduce price pressures.
US Economy Contracts For A Second Straight Quarter
According to the Commerce Department, the US economy has contracted for a second straight quarter.
US Inflation Is Rising Quicker Than Expected
In June, the Consumer Price Index (CPI) jumped 1.3% compared to the 1% increase seen in May, serving as a clear sign that inflation is still running rampant.
Federal Reserve Says Further Interest Rate Hike Is Looking Likely For July
According to the minutes released on Wednesday from their June meeting, Federal Reserve officials have said that a further interest rate hike of 50 or 75 basis points is likely at their meeting in July.
