U.S. employers added 678,000 jobs in February as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.
Fed Chair Jerome Powell says the central bank is prepared to begin raising interest rates this month to fight inflation despite economic uncertainty after Russia's invasion of Ukraine.
Republicans boycotted a meeting of the Senate Banking Committee Tuesday, delaying a vote on five nominees to the Fed's board. The move was aimed at one nominee: Sarah Bloom Raskin.
President Biden's first year in the White House has been marked by record GDP growth and job gains, so why do voters keep giving him poor marks on the economy?
Consumer prices in January were up 7.5% from a year ago, the biggest annual gain since 1982. That may seem like a lot for those under 40, but older folks have lived through even sharper price hikes.
To control inflation during WWII, the U.S. government resorted to wide-ranging price controls. Their unintended consequences might explain why today's policymakers are reluctant to try it again.
The Federal Reserve is preparing to raise interest rates sooner and — perhaps — more aggressively after inflation reached the highest in nearly 40 years.