The quarter-point increase lifts the Fed’s key rate to about 3.9% and could result in higher borrowing costs for mortgages, auto loans, and credit cards.
The plan, which could add $1.2 trillion to the country's growing deficit, is seeing resistance from some Republicans — and could also accelerate inflation.
Trucking costs are rising even faster than the price of diesel fuel because of the Trump administration’s crackdown on drivers with limited English proficiency.
A new Ipsos/Reuters poll finds three in four voters say their cost of living is heading in the wrong direction. Nearly half of registered voters call it their top issue, regardless of party.
The latest jobs report shows that, as inflation has risen during the Iran War, wage growth has continued to slide. Wages are now growing at the slowest pace in more than five years.
It was 62 years ago that President Lyndon B. Johnson made food stamps — now known as SNAP benefits — a permanent government program. But significant changes are coming.
Kathleen Flynn/The Washington Post via Getty Images
States are spending rural health dollars on tech startups, betting that untested companies will succeed where doctors have vanished and hospitals have collapsed.
Core PCE, the Fed’s preferred inflation measure, hit an annual rate of 3.3% today. But there’s not that much the Fed can do when there are so many factors outside of its control.
