The Federal Reserve is expected to raise its benchmark interest rate by another three-quarters of a percentage point amid fears of a looming recession.
All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.
The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.
Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.
The Federal Reserve is considering whether to adopt a digital version of the dollar, one better suited to a world where we are already using Venmo and Apple Pay. Here's what to know.
The Fed will comply with a request from the Treasury Department to wind down coronavirus emergency lending programs after the central bank had earlier objected to the move.
In an interview with NPR, Powell says it may take years before the economy has fully recovered. He says practicing social distancing and wearing masks is essential for the economy to rebound.
The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.
