The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and Chairman Jerome Powell said inflation has cooled.
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The Fed kept its benchmark interest rate at its highest level in 22 years but left the door open for further rate hikes if inflation pressures accelerate.
The Commerce Department said the economy expanded last quarter at the fastest pace in more than two years.
The plan announced Wednesday by President Joe Biden is expected to help 125,000 student loan borrowers by eliminating debt through existing programs.
U.S. regulators and 17 states are suing Amazon over allegations that it inflates prices on and off its platform, overcharges sellers and stifles competition.
He was joined by UAW President Shawn Fain, who rode with him in the presidential limousine to the picket line.
The Federal Reserve’s decision indicates that it is moderating its fight against inflation as price pressures have eased.
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.
It had $2.4 trillion in consolidated assets and $1.9 trillion in domestic deposits as of March 31, making it the second-largest bank in the U.S.
Nevada officials say the company is evading state regulations by making quick stops in California without picking up customers during trips to Las Vegas.