The U.S. economy added 261,000 new jobs in October, down from the upwardly revised 315,000 in September, according to the Bureau of Labor Statistics (BLS). This topped the market estimate of 200,000. The unemployment rate ticked up to 3.7 percent last month, up from 3.5 percent in September. The labor force participation rate edged down…
US Economy Added 261,000 New Jobs in October as Hiring Stays Strong
The Fed Has Just Begun to Fight
November 3, 2022
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AnalysisBusiness & MarketsBusiness ColumnistsFederal Reserveinflationinterest ratesOpinionPandemic ResponserecessionstagflationU.S. economy
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News Analysis There was widespread fear and loathing on Wall Street after the Fed’s announcement of further rate increases, 75 basis points again and the sixth increase this year. The Fed has not increased rates this far this fast in the entire postwar period. The pace is without precedent, and indicates that the Fed is…
Fed’s Powell Crushes Pivot Hopes, Says ‘Very Premature’ to Think About Pause on Rate Hikes
Federal Reserve Chair Jerome Powell dashed investors’ hopes for a quick pivot away from restrictive monetary policy, saying during a press conference on Nov. 2 that it’s “very premature” for market participants to be thinking about the central bank hitting pause on rate hikes amid the risk that expectations of higher inflation become entrenched. In…
Stocks Fall After Fed Says Rates May Rise More Than Expected
Stocks fell sharply after Federal Reserve Chair Jerome Powell signaled that interest rates may need to go even higher than previously thought in order to tame the worst inflation in decades. The Fed raised its benchmark rate by three-quarters of a percentage point Wednesday, its fourth consecutive hike of that magnitude and its sixth this year. Markets…
Capitol Report (Nov. 2): Will Unprecedented Rate Hike Finally Cool Housing Market?; Former Lawmaker Guilty for $1.2M Theft
The Federal Reserve again hikes interest rates, raising fears of a deepening recession as the agency scrambles to fight inflation. What does President Joe Biden say about the economy? Founder of Americans for Tax Reform Grover Norquist joins us to discuss some of the most pressing matters affecting the U.S. economy. The U.S. cybersecurity chief…
Capitol Report (Nov. 2): Will Unprecedented Rate Hike Finally Cool Housing Market?; Former Lawmaker Guilty for $1.2 Million Theft
The Federal Reserve again hikes interest rates, raising fears of a deepening recession as the agency scrambles to fight inflation. What does President Joe Biden say about the economy? Founder of Americans for Tax Reform Grover Norquist joins us to discuss some of the most pressing matters affecting the U.S. economy. The U.S. cybersecurity chief…
Federal Reserve Raises Interest Rates by Another 0.75 Percentage Points to Cool Inflation
November 2, 2022
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Business & Marketseconomic policieseconomyFederal ReserveFOMCinterest ratesPolicies & ImpactsUSUS News
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The Federal Reserve raised the benchmark federal funds rate by 75 basis points, to a target range of 3.75–4.00 percent on Nov. 2, in line with market expectations. The decision came after the Fed’s policy-making arm, the Federal Open Market Committee (FOMC), concluded its two-day policy meeting on Nov. 2. This was the sixth rate hike…
Federal Reserve Raises Interest Rates by Another 0.75 Percent to Cool Inflation
November 2, 2022
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Business & Marketseconomic policieseconomyFederal ReserveFOMCinterest ratesMarketsPolicies & ImpactsUSUS News
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The Federal Reserve raised the benchmark federal funds rate by 75 basis points, to a target range of 3.75–4.00 percent on Nov. 2, in line with market expectations. The decision came after the Fed’s policy-making arm, the Federal Open Market Committee (FOMC), concluded its two-day meeting on Nov. 2. This was the sixth rate hike this…
Fed Raises Interest Rates by Another 0.75 Percentage Points to Cool Inflation
November 2, 2022
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Business & Marketseconomic policieseconomyFederal ReserveFOMCinterest ratesMarketsPolicies & ImpactsUSUS News
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The Federal Reserve raised the benchmark federal funds rate by 75 basis points on Nov. 2 to a target range of 3.75 to 4 percent, in line with market expectations. The decision came after the Fed’s policy-making arm, the Federal Open Market Committee (FOMC), concluded its two-day meeting on Nov. 2. It’s the sixth rate increase…
Interest on Government Debt Set to Exceed Total Annual Defense Spending
November 2, 2022
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Business & Marketseconomic policieseconomyExecutive BranchFederal Reservegovernment debtinflationPolicies & ImpactsPoliticsUS
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The United States is on pace to spend more to maintain its debt than on its own military. In the third quarter, the federal government spent over $184 billion on interest payments on its debt. That means an annual cost of over $730 billion. Meanwhile, the Department of Defense 2022 budget was about $720 billion….
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