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US employers added a robust 272K jobs in May

The unemployment rate edged up to a still-low 4%, from 3.9%, ending a 27-month streak of unemployment below 4%, the Labor Department said Friday.

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US inflation slows but remains elevated

The Labor Department report showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month.

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.

 
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.