US Treasury bonds are known as a super safe, super boring place to put your money. But the Series I Savings Bond got so popular last week, the surge in demand crashed the Treasury's website
The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.
A new jobs report showed a modest slowdown in hiring last month that was not enough to soothe Wall Street's worries about inflation and the Fed. The unemployment rate edged down to 3.5%
The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.
The U.S. dollar is the strongest it has been in 20 years. As it strengthens, other currencies — like the pound — weaken. That's good news for U.S. consumers and importers but bad news for others.
The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.
Inflation eased slightly in August thanks to falling gasoline prices, but the cost of many essentials continues to climb, including soaring power bills that are straining family budgets.
Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.