Most economists expect a three-quarter percentage point hike.
Business
Local, state and national business news from the Kennebec Journal and Morning Sentinel.
Posted inBusiness
Walmart cuts profit outlook as shoppers adapt to inflation
The news comes as the Federal Reserve is set to announce another hefty hike in its benchmark interest rate on Wednesday.
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Posted inBusiness, Nation & World
Ex-congressman among 9 charged in insider trading cases
Officials say the cheating resulted in millions of dollars of illegal profits.
Posted inBusiness, Nation & World
Zimbabwe debuts gold coins as legal tender to stem inflation
Hyperinflation in 2008 reached 5 billion percent.
Posted inBusiness, Nation & World
Feds sue poultry producers, alleging unfair worker practices
The Justice Department says the companies have been engaged in a conspiracy to exchange information about wages and benefits to drive down employee competition.
Posted inArts & Entertainment, Business, Nation & World
Hollywood producer’s new nonprofit to boost diverse creators
Rideback Rise hopes to raise $2 million this year.
Posted inBusiness, Nation & World
Rents spike as big-pocketed investors buy mobile home parks
The purchases – and the ensuing rent increases – are putting residents in a bind, since most mobile homes – despite the name – cannot be moved easily or cheaply.
Posted inBusiness, Nation & World
Fed set to impose another big rate hike to fight inflation
Despite conflicting signs, for now the Federal Reserve is focused squarely on its inflation fight, and this week it’s set to announce another hefty hike in its benchmark interest rate.
Posted inBusiness, Nation & World
Russia’s Gazprom to cut gas flow to Europe to 20% of capacity
Concerns are rising about a possible recession if Europe does not save enough gas and rationing is required to get through the cold months.
Posted inBusiness, Nation & World
Average gas price falls 32 cents to $4.54 per gallon
But it’s $1.32 higher than it was one year ago.