Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation
Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.
Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.
Worker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared.
The level of workers who retired then came back a year later is running around 3.2%, just about where it was before the pandemic.
The changes would tailor the Community Reinvestment Act's approach to making sure banks are not engaging in "redlining."
Nonfarm payrolls grew by 428,000 for the month, a bit above the Dow Jones estimate of 400,000. The unemployment rate was 3.6%.
Hiring in the manufacturing, transportation and health-care sectors helped the U.S. economy add more than 400,000 jobs in April.
Minneapolis Federal Reserve President Neel Kashkari said Monday he's confident inflation will come back to normal, though it's taking longer than he expected.
Inflation expectations over the next year fell to a median 6.3% in April, a 0.3 percentage point decrease from record high levels the previous month.
Employment openings exceeded the level of available workers by 5.6 million in March while a record number of people quit their jobs.