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A customer uses the contactless payment chip in their Visa card to purchase gasoline at a station in Ridgeland, Miss., Thursday, July 1, 2021. Americans who for years have enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on what's expected to be a prolonged period of rate hikes to fight inflation. (AP Photo/Rogelio V. Solis, File)

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How higher interest rates will affect Americans' finances
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,03/16/22-1:43PM , 93 Reads
WASHINGTON (AP) — Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on what's likely to be a prolonged period of rate hikes to fight inflation.
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Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing, Thursday, March 3, 2022 on Capitol Hill in Washington. (Tom Williams, Pool via AP)

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Fed begins inflation fight with key rate hike, more to come
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,03/16/22-1:02PM , 90 Reads
WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year.
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Price for a gallon of regular-grade gasoline is shown on a digital sign at a service station Wednesday, March 9, 2022, in Denver. (AP Photo/David Zalubowski)

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US inflation soared 7.9% in past year, a fresh 40-year high
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,03/09/22-6:03PM , 157 Reads
WASHINGTON (AP) — Propelled by surging costs for gas, food and housing, consumer inflation jumped 7.9% over the past year, the sharpest spike since 1982 and likely only a harbinger of even higher prices to come.
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For sale and hiring signs are displayed at an Armani Exchange store, Friday, Jan. 21, 2022, in Miami Beach, Fla. (AP Photo/Marta Lavandier)

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Strong job growth points to COVID's fading grip on economy
By CHRISTOPHER RUGABER - AP Economics Writer
Thu,03/03/22-5:55PM , 82 Reads
WASHINGTON (AP) — In a buoyant sign for the U.S. economy, businesses stepped up their hiring last month as omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation.
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