Fed ready to raise interest rates if inflation continues to run high, minutes show

Fed ready to raise interest rates if inflation continues to run high, minutes show

Federal Reserve officials at their meeting earlier this month expressed concern about inflation and said they would be willing to raise interest rates if prices keep rising. The committee that sets interest rates for the Fed on Wednesday released the minutes from the November session where it first signaled that it could be dialing back … Read more

Key inflation figure for the Fed up 4.1% year over year, the highest since January 1991

Key inflation figure for the Fed up 4.1% year over year, the highest since January 1991

Gasoline prices are displayed at a gas station on November 16, 2021 in San Mateo County, California. Liu Guanguan | China News Service | Getty Images Inflation rose strongly in October, accelerating at its fastest pace since the early 1990s, according to a Commerce Department gauge released Wednesday that is closely followed by Federal Reserve … Read more

ECB union seeks bigger pay hike in face of inflation – POLITICO

ECB union seeks bigger pay hike in face of inflation – POLITICO

FRANKFURT – As the European Central Bank is getting more heat for refusing to hike interest rates despite rising inflation, its staff is seeking another solution: It wants higher pay. The ECB’s staff trade union IPSO has called on the central bank’s leadership to raise pay more substantially to protect employees’ purchasing power against skyrocketing … Read more