Banking and Lending

Senators Quiz Megabank CEOs on Consumer Protections, Social Issues

Senators Quiz Megabank CEOs on Consumer Protections, Social Issues

By Ken Sweet | The Associated Press | September 23, 2022 | Reprints

The CEOs of the nation’s biggest banks returned to Capitol Hill for a second day Thursday, and Senate Democrats strongly urged them to do more to help and protect their customers, while Republicans questioned whether banks should weigh in on hot-button social issues.

Powell: Inflation Fight May Cause Recession

Powell: Inflation Fight May Cause Recession

By Christopher Rugaber | The Associated Press | September 22, 2022 | Reprints | Unlock Link

Intensifying its fight against chronically high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time, an aggressive pace that is heightening the risk of an eventual recession.

How Much ‘Pain’ Will the Fed Try to Cause?

How Much ‘Pain’ Will the Fed Try to Cause?

By Christopher Rugaber | The Associated Press | September 20, 2022 | Reprints

On Wednesday, Americans may get a better sense of how much could be in store, with economists predicting the Fed’s main interest rate could rise another full percentage point by year’s end.