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The half-point short-term rate hike that the Federal Reserve announced could produce much higher borrowing costs for households.
The Federal Reserve hopes to slow the highest inflation in 40 years by making it more expensive to borrow money.
Costs for food, gasoline, housing and other necessities squeezed American consumers, wiping out the pay raises many received.
On July 1, international macroeconomist Dr. Susan M. Collins starts as president and CEO of the Federal Reserve Bank of…
Dr. Cook, a Michigan State University professor, was a senior economist at the Council of Economic Advisers under President Barack…