By Nick Timiraos The Federal Reserve kept interest rates steady this week, citing uncertainty around the economic impact of recently announced tariff hikes. Fed Chair Jerome Powell warned that sustained tariffs could lead to higher inflation, slower growth, and increased unemployment — a tough mix for policymakers. The Fed is choosing a cautious “wait and see” […]
Jan 28, 2023 Fed Set to Shrink Rate Hikes Again as Inflation Slows Kate Davidson and Craig Stirling, Bloomberg News Jerome Powell, chairman of the U.S. Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, D.C., US, on Wednesday, July 27, 2022. Powell said while some commodity […]
Via The New York Times U.S. added 428,000 jobs in April as the labor market remained vibrant. April produced another solid month of job growth, the Labor Department reported Friday, reflecting the economy’s resilient rebound from the pandemic’s devastation. U.S. employers added 428,000 jobs, the department said, the same as the revised figure for March. […]
by Jeanna Smialek / via The New York Times The Federal Reserve lifted its key interest rate by a quarter of a percentage point on Wednesday as policymakers took their first decisive step toward trying to tame rapid inflation by cooling the economy. The Fed had kept rates near zero since March 2020, and the decision marked […]
In the past week, two Massachusetts based clean energy firms declared bankruptcy. On Wednesday, clean energy firm Satcon Technology Corp. filed for Chapter 11 bankruptcy. The firm, which specializes in the production of conversion equipment utilities for solar panels, defaulted on $16 million dollar loan from Silicon Valley Bank and Compass Horizon Funding Company LLC […]
