Federal Reserve chairman Jerome Powell to stress inflation fight far from over
WASHINGTON (AP) — Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve’s primary focus remains the need to fight surging prices with still-higher interest rates.With financial markets anticipating that the Fed will stop raising rates soon and possibly even […]
US Treasury buys time for Biden and GOP on debt limit deal
WASHINGTON (AP) — The U.S. government bumped up against its debt limit Thursday, prompting the Treasury Department to take “extraordinary” accounting steps to avoid default — as friction between President Joe Biden and House Republicans raised concern about whether the U.S. can sidestep an economic crisis.The Treasury Department said in a letter to congressional leaders […]