Biden mistakenly calls for deceased congresswoman
While praising legislators during the White House Conference on Hunger, Nutrition and Health on Wednesday, President Biden asked for Rep. Jackie Walorski, who died in a car crash in August. Later, during a White House briefing, press secretary Karine Jean-Pierre said it was because the late congresswoman was “top of mind” for the president.news.yahoo.com
Former Treasury Secretary Larry Summers predicts there will 'almost certainly' be a 'downturn in the economy'
Former Treasury Secretary Larry Summers predicted there will "almost certainly" be a "downturn in the economy" as prices soar and the Fed raises interest rates to combat inflation.foxnews.com
Inflation sends prices soaring at discount stores
Prices for meat, poultry, fish, eggs and dairy products increased at a higher rate at discount stores than many other grocery stores -- a sign that inflation is hitting people who can least afford the price increases the hardest. Carter Evans takes a look.news.yahoo.com
Fed attacks inflation with another big hike and expects more
Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession.
Long-term mortgage rates now at highest point since 2008
Average long-term U.S. mortgage rates jumped again this week to their highest level in almost 14 years, certain to keep even more potential buyers out of a housing market that’s cooled considerably since the Federal Reserve began jacking up its benchmark borrowing rate.
Fed saw evidence of a slowing economy at its last meeting
Federal Reserve officials saw signs that the U.S. economy was weakening at their last meeting but still called inflation “unacceptably high’’ before raising their benchmark interest rate by a sizable three-quarters of a point in their drive to slow spiking prices.