FEDERAL RESERVE

"We need China to reopen, Russia to withdraw from Ukraine, and the [Federal Reserve] to curb-stomp inflation with a 100-basis point rate hike," Cramer said.

The Nasdaq's seven-week losing streak underscores the shift in investor sentiment away from technology and growth stocks as the broader markets sell off.

It is our intention to ride out this storm and high-grade our portfolio whenever an opportunity arises.

While the impact of a possible recession may be felt broadly, households will experience it to varying degrees. Still, there is advice that is universal.

Massachusetts has reported a case of the rare disease monkeypox, which does not easily spread among humans. These are the symptoms.

Former Morgan Stanley Asia chairman Stephen Roach warns the U.S. is on a dangerous path that leads to higher prices coupled with slower growth.

The number of Americans applying for jobless benefits for the first time increased by 21,000 to 218,000 last week.

Annuity buyers hand cash to insurers that pay regular income for the rest of the buyer's life. Pay rates are now rising along with interest rates.

Michael Barr, President Joe Biden’s pick to be the Federal Reserve’s top banking regulator, pledged Thursday, May 19, 2022 to help reduce high inflation and provide “clear rules” to govern financial innovation. “I strongly believe that inflation is far too high today and I’m committed to bringing it down to the Federal Reserve’s target of 2%," Michael Barr told members of the Senate Banking Committee, which is considering his nomination. The Fed is facing the difficult and high-risk task of curbing high inflation by sharply increasing interest rates without causing a recession. As one of seven members of the board, Barr would also have a permanent vote on interest rate decisions at each of the Fed's eight policy meetings each year. This month, the Senate also confirmed Lisa Cook, an economics professor at Michigan State University, and Philip Jefferson, an economist at Davidson College, to the Fed's board.

Rates continue to be elevated above the familiar days when they hovered around 3 percent.

Mortgage Rates FILE - A home with a "Sold" sign is shown, Sunday, May 2, 2021, in Surfside, Fla. Average long-term U.S. mortgage rates retreated modestly this week, Thursday, May 19, 2022, but interest on the key 30-year loan remains at decade-high levels. (AP Photo/Wilfredo Lee, File) (Wilfredo Lee)WASHINGTON — (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. Besides staggering inflation, rising mortgage rates and higher home prices, the supply of homes for sale continues to be scarce. "Economic uncertainty is causing mortgage rate volatility,” said Freddie Mac Chief Economist Sam Khater.

Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels.

Getting inflation under control calls for fiscal discipline — which involves spending as well as taxes.

Unemployment Benefits FILE - A hiring sign is displayed outside of a Starbucks in Schaumburg, Ill., Friday, April 1, 2022. The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades. (AP Photo/Nam Y. Huh) (Nam Y. Huh)WASHINGTON — (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low. Applications for unemployment benefits rose by 21,000 to 218,000 for the week ending May 14, the Labor Department reported Thursday. The total number of Americans collecting jobless benefits for the week ending May 7 fell again from the previous week, to 1,317,000.

More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment benefits is at a 53-year low.

Earnings are supposed to buoy the market through the end of the year. That could be a miscalculation.

Hong Kong Financial Markets A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, May 18, 2022. Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation. (AP Photo/Kin Cheung) (Kin Cheung)BEIJING — (AP) — Global stock markets were mixed and Wall Street futures were lower Wednesday after positive U.S. retail sales data helped to offset concern the Federal Reserve might consider more rate hikes to cool inflation. That came after positive U.S. retail sales data helped to offset worries about inflation and rate hikes. U.S. investors on Tuesday welcomed a Commerce Department report that showed retail sales rose 0.9% in April.

Hong Kong Financial Markets A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, May 18, 2022. Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation. (AP Photo/Kin Cheung) (Kin Cheung)BEIJING — (AP) — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation. The Shanghai Composite Index lost 0.4% to 3,082.12 and the Hang Seng in Hong Kong sank 0.6% to 20,471.54. Supply chain problems have prompted businesses to raise prices on everything from food to clothing as demand rebounds after the pandemic.

Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation.

Hong Kong Financial Markets A man wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Wednesday, May 18, 2022. Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve chairman said it will raise interest rates further if needed to cool inflation. (AP Photo/Kin Cheung) (Kin Cheung)BEIJING — (AP) — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation. The Shanghai Composite Index lost 0.5% to 3,077.88 and the Hang Seng in Hong Kong sank 0.7% to 20,470.28. Supply chain problems have prompted businesses to raise prices on everything from food to clothing as demand rebounds after the pandemic.

Train lead singer Pat Monahan chats with USA TODAY's Ralphie Aversa about the band's eleventh studio album "AM Gold" and working with Taylor Swift.

Financial Markets Wall Street FILE - A U.S. flag waves outside the New York Stock Exchange, Monday, Jan. 24, 2022, in New York. Stocks are opening higher on Wall Street Tuesday, May 17, led by a rebound in the highly volatile technology sector. (AP Photo/John Minchillo, File) (John Minchillo)NEW YORK — (AP) — Stocks rose in morning trading on Wall Street Tuesday as investors review an encouraging report on retail sales and a mixed batch of earnings updates from several big retailers. The Commerce Department said U.S. retail sales rose 0.9% in April. The upbeat report helps allay some concerns on Wall Street about persistently high inflation crimping consumer spending.

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. (AP Photo/Kin Cheung) (Kin Cheung)NEW YORK — (AP) — Stocks are opening higher on Wall Street Tuesday, led by a rebound in the highly volatile technology sector. Markets are trying to gauge how companies and consumers are dealing with higher prices and whether central banks can help ease the problem. On Wall Street, the major indexes have been slipping since early April. Walmart tends to be more cautious about raising its prices as its budget-conscious clientele gets dinged by higher prices, especially on food and gas.

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Markets are trying to gauge how companies and consumers are dealing with higher prices and whether central banks can help ease the problem. On Wall Street, the major indexes have been slipping since early April. Walmart tends to be more cautious about raising its prices as its budget-conscious clientele gets dinged by higher prices, especially on food and gas. U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year.

Hong Kong Financial Markets A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index in Hong Kong, Tuesday, May 17, 2022. Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. (AP Photo/Kin Cheung) (Kin Cheung)Shares advanced in Europe and Asia on Tuesday despite mounting doubts over the U.S. economic outlook that gave some benchmarks on Wall Street another day of losses. On Wall Street, the major indexes have been slipping since early April. U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year.

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. (AP Photo/Kin Cheung) (Kin Cheung)Shares advanced in Asia on Tuesday after another wobbly day extended a losing streak on Wall Street. Oil prices slipped. U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year. Natural gas prices rose 3.8% and have more than doubled in 2022.

Shares are higher in Asia after another wobbly day on Wall Street extended a losing streak for markets.

A quick history lesson suggests that an economic slowdown might not be too terrible.

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. (AP Photo/Kin Cheung) (Kin Cheung)Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Oil prices slipped. On Wall Street, the major indexes have been slipping since early April. U.S. crude oil prices rose 3.4% Monday and are up more than 50% for the year.

Stocks fell in morning trading on Wall Street Monday, continuing a losing streak that has brought the market down for six weeks in a row. (Courtney Crow/New York Stock Exchange via AP) (Courtney Crow)NEW YORK — (AP) — Stocks ended another wobbly day mostly lower on Wall Street Monday, extending a losing streak for markets. NEW YORK (AP) — Stocks edged higher on Wall Street Monday, but trading remains choppy as the market comes off six straight weeks of declines. U.S. crude oil prices rose 2.9% Monday and are up more than 50% for the year. Natural gas prices rose 3.9% and have more than doubled in 2022.

Financial Markets Wall Street In this photo provided by the New York Stock Exchange, trader James MacGilvray works on the floor, Monday, May 16, 2022. Stocks fell in morning trading on Wall Street Monday, continuing a losing streak that has brought the market down for six weeks in a row. (Courtney Crow/New York Stock Exchange via AP) (Courtney Crow)NEW YORK — (AP) — Stocks edged higher on Wall Street Monday, but trading remains choppy as the market comes off six straight weeks of declines. U.S. crude oil prices rose 2.9% Monday and are up more than 50% for the year. Wall Street is closely watching how consumers react to pressure from inflation and will get several updates from the U.S. government and key retailers this week.

Ben Bernanke, who served as Fed chair from 2006-2014, told the NYT canceling student debt would favor the rich over those "who didn't go to college."

Former Federal Reserve Chairman Ben Bernanke said the central bank made a “mistake” by responding too slowly to surging inflation. In a Monday interview with CNBC, Bernanke said the Fed should have started the process of hiking interest rates sooner than it did as inflation began to rise last year and the Biden administration pumped…

Financial Markets Wall Street In this photo provided by the New York Stock Exchange, trader James MacGilvray works on the floor, Monday, May 16, 2022. Stocks fell in morning trading on Wall Street Monday, continuing a losing streak that has brought the market down for six weeks in a row. Technology stocks fell and tempered gains elsewhere in the market. U.S. crude oil prices rose 1.6% Monday and are up more than 50% for the year. Wall Street is closely watching how consumers react to pressure from inflation and will get several updates from the U.S. government and key retailers this week.

Stocks are opening modestly lower on Wall Street Monday, May 16, 2022 continuing a losing streak that has brought the market down for six weeks in a row. Spirit Airlines rose 7% after JetBlue said it would make a hostile offer for the budget carrier after Spirit rebuffed its earlier bid. (AP Photo/John Minchillo, File) (John Minchillo)NEW YORK — (AP) — Stocks fell in morning trading on Wall Street Monday, continuing a losing streak that has brought the market down for six weeks in a row. The sector has been a particularly heavy weight on the broader market as investors worry about high inflation and rising interest rates. Natural gas prices rose 5% and have more than doubled in 2022.

Former Federal Reserve Chairman Ben Bernanke said the central bank erred in waiting to address the inflation problem.

The S&P 500 climbed 2.4%, led by more gains in the highly volatile technology sector.

Hopefully you enjoyed the break from the heat because it is coming back with a vengeance.

America has been bogged down with the worst inflation in decades. Economist Sean Snaith blamed bad policy in response to the COVID-19 pandemic.

Twitter sank after Tesla CEO Elon Musk said he was putting his deal to acquire the social media company on hold. NEW YORK (AP) — Stocks rallied on Wall Street Friday, but not enough to claw back all the losses the market has taken in this volatile week of trading. The benchmark index is still on track for its 6th straight losing week, something that hasn't happened since 2011. Tesla rose 4.8%. The Labor Department issued reports this week that confirmed persistently high consumer prices and wholesale prices that affect businesses.

"The biggest key to get out of credit card debt is to not be paying a high interest rate on that debt," said personal finance expert Suze Orman.

Stocks ended another bumpy week with a gain Friday, but not enough to keep the market from lodging its sixth weekly drop in a row, the longest such streak since 2011.

"The Federal Reserve plays a primary role in fighting inflation," President Biden said in his statement on Powell's confirmation.

"The Federal Reserve plays a primary role in fighting inflation," President Biden said in his statement on Powell's confirmation.

Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed's drive to raise interest rates as consistent with a so-called “soft landing” for the economy. Under that scenario, the Fed would manage to tighten borrowing costs enough to cool the economy and curb inflation without going so far as to tip the economy into recession.

Inflation dipped slightly in April, but it's still at a historically-high 8.3 percent. Research suggests lower-income families suffer the most when prices rise.NPR's Scott Horsley explains how people around the country are coping with inflation, and what the Federal Reserve is doing to try to bring it under control.This episode also includes reporting from NPR's Jennifer Ludden, on eviction rates rising in the face of increased rent and the end of pandemic rent aid in some places.And it features reporting from NPR's Brittany Cronin, on what's driving rising fuel prices.In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community.Email us at considerthis@npr.org.

Financial Markets Wall Street Pedestrians pass the New York Stock Exchange, Thursday, May 5, 2022, in the Manhattan borough of New York. Stocks are off to another weak start on Wall Street Thursday, May 12 as more declines in big technology companies weighed on the broader market. (AP Photo/John Minchillo) (John Minchillo)NEW YORK — (AP) — The stock market ended another erratic day of trading with mixed results as investors grapple to understand what’s next with inflation and the U.S. central bank’s response to it. NEW YORK (AP) — Technology companies are leading stocks broadly lower on Wall Street in afternoon trading Thursday after investors received another dire readout on inflation. On Wednesday, the Labor Department's report on consumer prices came in hotter than Wall Street expected.

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

If inflation keeps refusing to cooperate, the central bank will have to be more forceful.

Financial Markets Wall Street Pedestrians pass the New York Stock Exchange, Thursday, May 5, 2022, in the Manhattan borough of New York. (AP Photo/John Minchillo) (John Minchillo)NEW YORK — (AP) — Stocks fell in afternoon trading on Wall Street as investors received another dire readout on inflation. Major indexes are all in the red for the week as investors worry about rising inflation, rising interest rates and their impact on the economy. Rising inflation has prompted the Federal Reserve to pull its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. China's recent lockdowns amid concerns about a COVID-19 resurgence have also worsened supply chain and production problems at the center of rising inflation.

Stocks are off to another weak start on Wall Street Thursday, May 12 as more declines in big technology companies weighed on the broader market. (AP Photo/John Minchillo) (John Minchillo)NEW YORK — (AP) — Stocks wavered in morning trading on Wall Street as investors received another dire readout on inflation. Major indexes are all in the red for the week as investors worry about rising inflation, rising interest rates and their impact on the economy. Rising inflation has prompted the Federal Reserve to pull its benchmark short-term interest rate off its record low near zero, where it spent most of the pandemic. China's recent lockdowns amid concerns about a COVID-19 resurgence have also worsened supply chain and production problems at the center of rising inflation.

Mortgage Rates FILE - Condominium units are offered for sale in the Dorchester neighborhood, Wednesday, Aug. 18, 2021, in Boston. Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday, May 12, 2022, that the 30-year rate ticked up to 5.3% from 5.27% last week. (AP Photo/Charles Krupa, File) (Charles Krupa)WASHINGTON — (AP) —Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3% from 5.27% last week.

Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009.

The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades.

U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead.

Federal Reserve-Stability The Federal Reserve Building on Constitution Avenue in Washington is seen Aug. 2, 2017, in Washington. (AP Photo/Pablo Martinez Monsivais) (Pablo Martinez Monsivais)WASHINGTON — (AP) — The Senate confirmed economist Phillip Jefferson to the Federal Reserve's Board of Governors late Wednesday, the latest addition to the panel after delays and setbacks for some of President Joe Biden's nominees. Jefferson becomes the fourth Black man to serve on the Fed's board, and he would join Lisa Cook, the first Black woman on the Fed in its 108-year history. Senators confirmed Jefferson on a 91-7 vote, without the divisive partisan debates that have erupted over some of Biden's other choices. Along with Cook and Jefferson, the Senate two weeks ago confirmed Lael Brainard for the Fed’s influential vice chair position.

The Senate has confirmed economist Phillip Jefferson to the Federal Reserve’s Board of Governors.

Pricier home loans could eventually lead to more affordable homes, one economist says. Here's why.

Pricier home loans could eventually lead to more affordable homes, one economist says. Here's why.

High inflation and a tight labor market means workers have more leverage to make the case for a raise.

The forecasted drop in annual inflation, if it occurs, would add to other signs that consumer inflation may finally be peaking. Month-to-month price increases are also easing, along with some other inflation gauges. If the European Union decides, for example, to cut off Russian oil, gas prices in the United States would likely accelerate. That may have effect of easing the year-over-year inflation rate. Core inflation also typically rises more slowly than the overall price increases but can also take longer to decline.

Asian stocks have followed Wall Street lower as fears increased that U.S. rate hikes to fight inflation might stall economic growth.

The April jobs report provided mixed signals on the economic issue most on the minds of Americans: Chronically high inflation.

The stock market ended an unusually turbulent week with its fifth straight weekly decline.

More Americans applied for unemployment benefits last week but the total number of people collecting jobless aid is at its lowest level in more than 50 years.

Asian stocks have followed Wall Street lower as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth.

When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans.

Record-low mortgages below 3% are long gone.

The Federal Reserve raised interest rates by a half-percentage point Wednesday which is the first-rate hike greater than a quarter-percent since 2000.

Shares are mostly lower in Asia, with markets in China, Japan and some other markets still closed for holidays.

The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans’ financial strains and likely weaken the economy.

More steep losses for technology stocks pushed the S&P 500 down 3.6% on Wall Street Friday.

The Federal Reserve must move faster than it has in the past to rein in high inflation, Chair Jerome Powell said, signaling that sharp interest rate increases are likely in the coming months, beginning at the Fed’s next policy meeting in May.

The surging cost of energy pushed wholesale prices up a record 11.2% last month from a year earlier — another sign that inflationary pressure is widespread in the U.S. economy.

Asian shares are trading mostly higher after new data showed inflation in the U.S. was not as bad as some analysts had expected.

Asian stock markets are lower after the Federal Reserve indicated it might raise interest rates more aggressively to cool U.S. inflation.

Stocks ended mostly lower after another day of drifting around Friday, leaving the market with its first losing week in the last four.

As the Federal Reserve intensifies its efforts to tame high inflation, its top officials are casting their aggressive drive in a new light: As a blow against economic inequality.

Many small businesses are finding it tough to get a bank loan, making it difficult to move beyond the pandemic and afford the higher costs of goods and labor.

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia’s war against Ukraine and the highest inflation in 40 years.

Average long-term U.S. mortgage rates rose again this week as the key 30-year loan rate breached 4.5% and attained its highest level since the end of 2018.

An inflation gauge closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.

One of the more reliable warning signals for a recession is starting to shine.

U.S. consumer confidence bounced back in March and remains high, though consumers’ short-term outlook is not quite as rosy.

Chair Jerome Powell says the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring.

Asian stock markets are mixed after Wall Street turned in its biggest weekly gain in 16 months as investors watched efforts to negotiate an end to Russia’s war on Ukraine.

Stocks rose for a fourth day in a row Friday, closing out their biggest weekly gain since November 2020.

Average long-term U.S. mortgage rates rose this week as the key 30-year loan vaulted over 4% for the first time since May 2019.

Asian stock prices have surged for a second day after the Federal Reserve announced its first interest rate hike since 2008 and China promised support for its real estate and internet industries.

The Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.

Sarah Bloom Raskin has withdrawn her nomination to the Federal Reserve’s Board of Governors after a key Democrat joined with all Senate Republicans to oppose her confirmation.

Stocks are mostly lower in Asia and oil prices have fallen further after another day of losses on Wall Street.

Stocks fell again after another bumpy day of trading on Wall Street Friday, marking the fourth losing week in the last five.

U.S. businesses posted a near-record level of open jobs in January, a trend that has pushed up worker’s pay and added to the economy’s inflationary pressures.

An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1% in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia’s invasion of Ukraine.

Relief flowed through Wall Street on Friday, even as deadly attacks continued to rage in Ukraine.

Federal Reserve Governor Christopher Waller says he is willing to support a half-point interest rate hike at the central bank’s next meeting in March.

Average long-term U.S. mortgage rates fell slightly this week, after rising to their highest level in three years last week.

Federal Reserve policymakers concluded last month that they would accelerate their tightening of credit if inflation failed to slow in the coming months.

Fewer Americans applied for unemployment benefits for the third straight week.