Fed officials have said they expect at least one more increase this year and then for the benchmark rate to stay elevated through at least early 2024.
Lawmakers and watchdogs think House leadership is trying to tank a ban on congressional stock trading: “It would please the voters but hurt their wallets.”
Time is running out for a vote, and there's muted opposition from lawmakers who think the restriction is not needed.
Wall Street tumbled into a bear market Monday after fears about a fragile economy sent the S&P 500 more than 20% below its record set early this year.
Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks.
More steep losses for technology stocks pushed the S&P 500 down 3.6% on Wall Street Friday.
Markets have careened in recent weeks amid uncertainty about whether the economy may be heading for a toxic combination of stagnating growth and persistently high inflation.
Asian and European stock markets plunged and oil prices surged to nearly $100 a barrel Thursday after Russia attacked Ukraine.
Meta sank after forecasting revenue well below analysts’ expectations for the current quarter.
Stocks notched modest gains after climbing back from a steep slide that had knocked more than 1,200 points off the Dow Jones Industrial Average.