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News
European Central Bank raises interest rates a quarter point to quell energy-fueled inflation
2+ day, 13+ hour ago (296+ words) The central bank for the 21 EU member countries that use the euro currency raised its benchmark rate by a quarter percentage point to 2.50% at a meeting held in Berlin, away from the bank’s Frankfurt headquarters. Bank President Christine Lagarde said…...
Hiring burst of 162,000 jobs in August puts the focus squarely back on inflation in the US
1+ week, 1+ day ago (738+ words) The jobs report, issued by the Labor Department Friday, could be good news for President Donald Trump two months before midterm elections in which the health of the economy is weighing on voters' minds. Hiring far exceeded the 65,000 forecasters had…...
Fed Chair Warsh signals rate hikes may be needed with US inflation stubbornly elevated
2+ week, 1+ day ago (886+ words) In his first high-profile speech at the Fed’s annual conference in Jackson Hole, Wyoming, Warsh acknowledged that recent U.S. reports show that inflation has cooled a bit, but “they do not tell me that underlying trends have meaningfully improved.” “We…...