inflation
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PublishedJune 22, 2022
Chairman Powell says Fed aiming to avoid recession while taming inflation
He tells senators that the Federal Reserve's primary goal is to reduce inflation, and he still hopes to achieve what he has called a 'soft landing' – a reduction in inflation and a slowdown in growth without triggering a recession and high unemployment.
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PublishedJune 21, 2022
Fed’s Powell facing rising criticism for inflation missteps
Struggling to curb the worst inflation outbreak in 3 decades, Federal Reserve Chair Jerome Powell last week engineered a three-quarters-of-a-point increase in the Fed's short-term interest rate — the largest single rate hike in a quarter-century.
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PublishedJune 15, 2022
Stocks rally after Fed’s big rate hike to fight inflation
The market’s ebullience is a sharp turnaround from the worldwide rout that has dominated much of this year.
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PublishedJune 15, 2022
Fed attacks inflation with its largest interest rate hike since 1994
The move the Federal Reserve announced on Wednesday will increase its benchmark short-term rate, which affects many consumer and business loans, to a range of 1.5% to 1.75%.
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PublishedJune 10, 2022
As gas prices pass $5 a gallon, Maine lawmakers seek probe into price gouging
The average price for a gallon of regular gasoline in Maine was $5.06 on Friday, with Franklin County reporting the highest countywide average at $5.16.
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PublishedJune 9, 2022
Biden’s inflation crunch: Too much shopping – even at the beach
The president needs U.S. consumers to pull back just enough so inflation eases, but not so much that the economy risks plunging into a recession.
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PublishedJune 7, 2022
World Bank dims outlook for global economy amid Russia war
The agency predicts just 3% global growth for 2023 and 2024.
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PublishedJune 7, 2022
Commentary: One solution to inflation? Allow more immigration
Reducing immigration in the Trump years has contributed to a worker shortage that is driving up wages, prices and contributing to inflation.
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PublishedJune 6, 2022
Average gas price in Maine nears $5 a gallon
'I want them to install crying towels here,' said one gas station customer, with per-gallon prices up nearly $2 from a year ago and likely to continue climbing.
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PublishedMay 31, 2022
Biden and Fed chairman plot inflation fight as nation worries
Like the president, the Fed wants to slow inflation without knocking the U.S. economy into recession, a highly sensitive mission.
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