The US central bank has raised interest rates to the highest level in 16 years as it battles to stabilise prices. The Federal Reserve increased its key interest rate by 0.25 percentage points – its tenth hike in 14 months. The Fed signalled that Wednesday’s rise may be its last one for now. The moves […]
Tag: Fed
Yellen Says Rate Hikes Will Slow As Inflation Stays Low
The Federal Reserve could scale back on its expected pace of interest rate hikes if inflation continues to be soft, Chair Janet Yellen told Congress. Under questioning over why the central bank remains committed to normalizing policy even as price and wage pressures remain muted, Yellen said the Fed is aware of the softness in […]
Dow Gains 130 Points, Reaches All Time High
U.S. equities kicked off the second half of the year on the right foot, closing mostly higher on Monday as bank stocks climbed. The Dow Jones industrial average notched a record high before closing about 130 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose 0.23 percent, with financials and energy […]