Federal Reserve officials and their counterparts around the world are trying to defeat inflation by rapidly raising interest rates. They know it will come at a cost.
Tag: Recession and Depression
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Bad News From the Fed? We’ve Been Here Before.
Fed rate increases are causing pain now. But an inside look at the Volcker era shows that conditions were far worse when the Fed tried different tacks to tame inflation.
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The Fed Intensifies Its Battle Against Inflation
Federal Reserve officials made another large rate increase and signaled more to come, pledging to quash inflation despite expected pain.
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N.Y.C. Faces Potential Fiscal Crisis as $10 Billion Budget Deficit Looms
A persistent pandemic-driven downturn has caused revenue from business and personal-income taxes to fall in New York City, while tourism and job losses have yet to recover.
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Inflation Report Dampens Biden’s Claims of Economic Progress
The president is trying once again to accentuate the positives in the recovery from recession, but stubbornly high prices are complicating the message.