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Monetary Policy

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WASHINGTON (AP) — President Joe Biden on Friday announced the nominations of three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed's board.

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WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the Fed's board.

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WASHINGTON (AP) — Inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the U.S. economy.

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WASHINGTON (AP) — Warning that high inflation could make it harder to restore the job market to full health, Federal Reserve Chair Jerome Powell said Tuesday that the Fed will raise interest rates faster than it now plans if needed to stem surging prices.

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WASHINGTON (AP) — High inflation is taking a toll on American families, Federal Reserve Chair Jerome Powell acknowledged in remarks to be delivered at a Tuesday congressional hearing, where he is sure to face tough questions on the subject.

Stocks ended slightly lower on Wall Street Monday after recouping much of an early slide. Technology stocks bounced back after leading the market lower in the morning. Losses for industrial companies and banks were partly offset by gains in health care companies. The S&P 500 ended down 0.1%, erasing most of an earlier loss of just over 2%. The Nasdaq, which is heavily weighted with technology companies, closed up less than 0.1%. It was down 2.7% earlier. Bond yields continued to rise as investors anticipate moves by the Federal Reserve to raise interest rates. Energy prices fell.

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WASHINGTON (AP) — With inflation surging, unemployment falling and wages rising, some economists are warning that the Federal Reserve may have waited too long to reverse its ultra-low-rate policies — a delay that could put the economy at heightened risk.

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Stocks slumped and bond yields rose Wednesday as Wall Street interpreted the minutes from the Federal Reserve's recent meeting of policymakers as a sign the central bank is poised to move faster to raise interest rates this year as it battles inflation.

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BANGKOK (AP) — Asian shares were mostly higher on Tuesday after a worldwide slump for financial markets spurred by worries about how badly the omicron variant, inflation and other forces will hit the world economy.

BARCELONA, Spain (AP) — Óscar Baños and thousands of fellow truck drivers celebrated Saturday after a threat to idle their engines pushed the Spanish government to adopt measures improving work conditions and checking skyrocketing fuel costs driven by inflation.

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Stocks are closing lower on Wall Street, marking their third losing week in the last four. Banks, technology companies and industrials all helped pull major indexes lower Friday. The S&P 500 gave up 1%. The Nasdaq sliped 0.1% and the Dow Jones Industrial Average fell 1.5%. After pushing the S&P 500 to a record high last week, investors have been taking money off the table as the Federal Reserve moves to dial back stimulus and fight inflation with interest rate increases starting some time next year. The yield on the 10-year Treasury note fell to 1.41%.

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