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PublishedJune 15, 2022
Stocks rally after Fed’s big rate hike to fight inflation
The market’s ebullience is a sharp turnaround from the worldwide rout that has dominated much of this year.
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PublishedJune 15, 2022
Fed attacks inflation with its largest interest rate hike since 1994
The move the Federal Reserve announced on Wednesday will increase its benchmark short-term rate, which affects many consumer and business loans, to a range of 1.5% to 1.75%.
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PublishedJune 10, 2022
As gas prices pass $5 a gallon, Maine lawmakers seek probe into price gouging
The average price for a gallon of regular gasoline in Maine was $5.06 on Friday, with Franklin County reporting the highest countywide average at $5.16.
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PublishedJune 9, 2022
Biden’s inflation crunch: Too much shopping – even at the beach
The president needs U.S. consumers to pull back just enough so inflation eases, but not so much that the economy risks plunging into a recession.
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PublishedJune 8, 2022
World Bank dims outlook for global economy amid Russia war
The agency predicts just 3% global growth for 2023 and 2024.
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PublishedJune 6, 2022
Average gas price in Maine nears $5 a gallon
'I want them to install crying towels here,' said one gas station customer, with per-gallon prices up nearly $2 from a year ago and likely to continue climbing.
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PublishedMay 31, 2022
Biden and Fed chairman plot inflation fight as nation worries
Like the president, the Fed wants to slow inflation without knocking the U.S. economy into recession, a highly sensitive mission.
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PublishedMay 29, 2022
No shell, big shock: Maine lobster rolls fetch record prices this season
Lobster lovers can expect to pay in excess of $40 for a single roll at some of the state's most popular summer eateries. The average price is closer to $30.
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PublishedMay 27, 2022
Despite record gas prices, Memorial Day travel surge expected in Maine
With prices at the pump hovering above $4.70 a gallon, travelers and residents alike plan to take to the road for the traditional start of Maine's peak tourism season.
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PublishedMay 22, 2022
Consumers defy inflation to support economy. For how long?
Consumers as a whole are showing surprising resilience, not only sustaining their spending but increasing it even after adjusting for inflation.
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