Federal Reserve raises key interest rate for 11th time by a quarter-point in effort to slow inflation

The Federal Reserve raised its key interest rate Wednesday for the 11th time in 17 months, a streak of hikes that are intended to curb inflation but that also carry the risk of going too far and triggering a recession.

President Biden visits Philly shipyard as he courts organized labor and pushes green jobs

President Joe Biden has paid a visit to Philadelphia's shipyard to make a pitch that unions will be building America’s renewable energy future. He's courting organized labor at a moment when some major unions are weighing strikes that could disrupt the growth he wants to campaign on in 2024.

Florida's new Chinese land ownership law debated in federal court

A federal judge listened to more than two hours of arguments Tuesday about whether he should block a new Florida law that restricts people from China from owning property in the state.

US inflation believed to have slowed in June in sign of easing price pressures

Some economists believe if inflation keeps slowing and the economy shows signs of improvement, a July interest rate hike could be the Federal Reserve's last.

Fed may tighten financial rules after US bank failures, Powell says

The collapse of Silicon Valley Bank, Signature Bank and First Republic Bank exposed different vulnerabilities that the Fed will likely address through new regulations.

Powell expects more Fed rate hikes because of persistently high inflation

Chair Jerome Powell reiterated that the Federal Reserve will likely raise interest rates at least once more this year because of persistently high inflation in the economy’s service sector and the surprisingly tight job market.

California governor proposes rolling back access to police misconduct records

California Gov. Gavin Newsom’s administration has proposed an end to public disclosure of investigations of abusive and corrupt police officers, handing the responsibility instead to local agencies in an effort to help cover an estimated $31.5 billion budget deficit.

NYC restaurant delivery workers to get big raise, but not everyone is happy

The Department of Consumer and Worker Protection found on average, a delivery worker makes around $7.09 per hour. But now the city is forcing the apps to raise that to $17.96 by July 12.