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US credit rating downgraded for only second time in history

Fitch Ratings has downgraded the United States government’s credit rating, citing rising debt and a “steady deterioration in standards of governance” over the past two decades.

Biden signs bill to avert freight rail strike

President Joe Biden signed a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into a catastrophic recession.

 
Fed unleashes another big rate hike but hints at a pullback

The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time but hinted that it could soon reduce the size of its rate hikes.

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