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Powell says inflation will be ‘elevated’ in coming months

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WASHINGTON — Federal Reserve Chair Jerome Powell says that inflation “will likely remain elevated in coming months" before “moderating,” an apparent acknowledgement that price...

Fed officials discuss timing of reducing bond purchases

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WASHINGTON — Federal Reserve officials began debating at their June meeting when and how they would reduce the monthly bond purchases that they have...

San Francisco Fed’s Daly: Healthy economy needs less support

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WASHINGTON — With interest rates ultra-low even as the U.S. economy swiftly improves, Federal Reserve officials are divided over how quickly they should adjust...

Czech central bank raises key rate to 0.5% to tame inflation

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PRAGUE — The Czech Republic’s central bank has increased its key interest rate by a quarter-point to 0.5% in efforts to tame inflation as...

Turkey’s central bank keeps interest rate unchanged at 19%

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ISTANBUL — Turkey’s central bank left its key benchmark interest rate unchanged at 19% on Thursday. ...

US average mortgage rates mostly lower; 30-year at 2.93%

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WASHINGTON — Mortgage rates were mostly lower this week as the economy continued to show signs of recovery from the pandemic recession and recent...

Delicate task for Fed: When to pull back on low-rate support

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WASHINGTON — With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first...

This Week: Retail sales, Fed policy update, Kroger earns

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A look at some of the key business events and economic indicators upcoming this week: ...

Turkish lira dips to record low over Erdogan rate comments

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ANKARA, Turkey — The Turkish lira dipped to new record lows on Wednesday after President Recep Tayyip Erdogan rattled investor confidence by saying he...

High inflation? A generation of investors has never felt it

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NEW YORK — The central question gripping Wall Street is whether the burst of inflation hitting the economy as it recovers from the pandemic...