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Federal Reserve Expected to Implement Fourth Consecutive Interest Rate Hike

The Federal Reserve is expected to raise its benchmark interest rate by 75 basis points on Wednesday, marking the fourth meeting in a row in which an interest rate hike would be implemented. Following the announcement, markets expect the central bank to slow down...

Fed New York President John Williams Says Interest Rates Need to Go Up to 4.5%

Despite the interest rates surging from near zero to 3% to 3.25% from March, the Fed still intends to remain aggressive in attempts to fight inflation. According to Federal Reserve New York President John Williams, the interest rates need to get up to at...

Credit Card Interest Rates Poised to Hit Record High

Credit card interest rates are expected to reach record heights following the US Federal Reserve's decision to up its benchmark interest rate by another 0.75 points. The average variable credit card rate, which is now 18.16% according to Bankrate.com, is expected to follow in...

Oil Falls Amid Growing Interest Rate Concerns

Oil markets declined ahead of central bank meetings later this week during which the further tightening of monetary policy is expected to be discussed. West Texas Intermediate declined by about 1% to trade at $84 per bottle while the dollar continues to strengthen. Earlier...

Consumer Prices Exceed Last August By 8.3%; Bureau of Labor Statistics Reports

The Bureau of Labor Statistics reported on Tuesday that the Consumer Price Index (CPI) rose by 8.3% in August compared to last year. This represents a 0.1% rise from July. While inflation has cooled down after prices reached a four-decade high earlier this year, food...

Investors Await Jobs Data Following Jackson Hole Symposium

The latest U.S. monthly jobs report is being eagerly awaited by investors this week following the hawkish speech delivered by Federal Reserve Chair Jerome Powell at the Jackson Hole symposium last Friday. Powell stated that in an effort to slow inflation, he is willing...