The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come.
The Biden administration plans to freeze federal student loan payments through Aug. 31, extending a moratorium that has allowed millions of Americans to postpone payments during the coronavirus pandemic, according to an administration official familiar with the White House’s decision-making.
The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation.
Las Vegan Mark Davis’ nonprofit, Abundance International, has helped orphanages in two Ukrainian cities for years. The Russian invasion has made its work more important than ever, he said.
Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year.
Amid a renewed push to ban smoking in Atlantic City’s casinos, a new report predicts that doing so could cost up to 2,500 casino jobs and nearly 11% of casinos’ revenue as they struggle to rebound from the coronavirus pandemic.
“The relief rally has quickly reversed course,” said Jeffrey Halley of Oanda in a report. “Equities are tanking in Asia.”
A proposal sought by Democratic U.S. senators — including Nevada’s Catherine Cortez Masto and Jacky Rosen — to reduce federal gas taxes won’t bring relief for Nevada residents.
In the 50 largest U.S. metro areas, median rent rose 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms.
The U.S. economy grew last year at the fastest pace since Ronald Reagan’s presidency.
The Federal Reserve signaled Wednesday that it plans to begin raising its benchmark interest rate as soon as March, a key step in reversing its pandemic-era low-rate policies that have fueled hiring and growth but also escalated inflation.
Former President Donald Trump isn’t shy about his business acumen or his vast riches — but how wealthy is he currently?
Amazon Web Services suffered a major outage Tuesday, the company said, disrupting access to many popular sites.
The weekend robberies started in San Francisco Friday around 8 p.m., when packs of people broke into stores including Louis Vuitton, Burberry and Bloomingdale’s in the downtown area and in Union Square.
Southwest Airlines canceled hundreds of flights over the weekend, blaming the woes on air traffic control issues and weather.
