Opinion: The Federal Reserve is missing a crucial turning point in its fight against inflation because it believes in flawed data

The Federal Reserve can’t see the probable economic crash that is coming because it’s still looking into the rearview mirror, where it sees nothing but high inflation. The danger arises because the consumer price index and the personal consumption expenditure price index — the two most important inflation gauges — have a fatal flaw in … Read more

Home buyers are canceling purchase contracts. What to know before you do

Steve Pfost | Newsday | Getty Images Amid higher interest rates and a softening housing market, home buyers are continuing to back out of purchase contracts at an elevated rate. About 64,000 home-purchase agreements were canceled in August, according to a new report from Redfin. That’s equal to 15.2% of home contracts initiated during the … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further are concerns over supply shortages. The S&P 500 SPX fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components of … Read more

What rising interest rates mean for your credit, loans, savings and more

Editor’s Note: This is an updated version of a story that originally ran on August 26, 2022. In its continued bid to quash high inflation, the Federal Reserve on Wednesday raised the overnight bank lending rate to a range of 3% to 3.25%. It is the fifth increase by the US central bank in six … Read more

Brace yourselves, the Fed is about to inflict ‘some pain’ to fight inflation — here’s how to prepare your wallet and portfolio

The Fed is ready to bring the pain. Are you prepared? Weeks ago, Federal Reserve Chair Jerome Powell cautioned there would be “some pain to households and businesses” as the central bank jacks up interest rates to fight inflation that’s higher than it’s been in four decades. Powell and other members of the Fed’s Federal … Read more