Elon Musk says the Fed must cut rates ‘immediately’ to stop a severe recession
In a tweet early Wednesday, Musk called on the Fed "to cut interest rates immediately" or risk "amplifying the probability of a severe recession."
Transitory inflation talk is back. But economists say higher prices are here to stay
Global markets have taken heart in recent weeks from data indicating that inflation may have peaked, but analysts have warned against the return of the...
Key inflation measure that the Fed follows rose 0.2% in October, less than expected
The core personal consumption expenditures price index was expected to rise 0.3% in October and 5% from a year ago, according to Dow Jones estimates.
Fed hikes and a stronger dollar are fueling risks of political instability in Africa
The Fed's policy tightening and a strengthening dollar are having a knock-on effect on African nations' balance sheets and public debt burdens.
Watch Fed Chair Jerome Powell speak on the economy and monetary policy
Federal Reserve Chair Jerome Powell is slated to speak Wednesday at the Brookings Institution.
Fed’s Waller says he’s open to a half-point rate hike at December meeting
The Fed governor said he's open to reducing the level of interest rate increases to half a percentage point in December.
The world needs more economic alliances than security ones, analyst says
Having "a lot of security, military, defense alliances" could make the world more dangerous, the president of the Center for China and Globalization said.
Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says
Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances.