Federal Reserve Bank

Fed approves hike that takes interest rates to highest level in more than 22 years

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[ad_1] WASHINGTON – The Federal Reserve on Wednesday approved a much-anticipated interest rate hike that takes benchmark borrowing costs to their highest level in more than 22 years. In a move that financial markets had completely priced in, the central bank’s Federal Open Market Committee raised its funds rate by a quarter percentage point to … Read more

This ominous trend spells a hard landing for economy

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[ad_1] Investors may want to brace for a hard landing. According to the Economic Cycle Research Institute, the recent bank failures reinforce a recession is imminent and there is a chart reflecting it. “We’re seeing lots of symptoms [of a significant downturn] when you have crises,” the institute’s co-founder Lakshman Achuthan told CNBC’s ” Fast … Read more