Americans who have long enjoyed the benefits of historically low interest rates will have to adapt to a very different environment as the Federal Reserve embarks on a period of rate hikes to fight inflation.
inflation
Posted inBusiness, Nation & World
Fed hikes key interest rate to fight inflation, with more to come
The Fed’s quarter-point hike in its key rate, which it had pinned near zero since the pandemic recession struck two years ago, marks the start of its effort to curb the high inflation that has followed the recovery from the recession.
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Posted inBusiness, Local & State
Ukraine crisis sends fossil fuel prices soaring in Maine
Gasoline prices are approaching a record high, and heating oil already has surpassed the previous record.
Posted inBusiness
Wheat, corn prices surge amid Russia’s invasion of Ukraine
Inflation is already at a four-decade high in the U.S., partly driven by rising food costs.
Posted inBusiness
Federal Reserve chair: Russia’s war on Ukraine will worsen inflation
Jerome Powell warned that Russia’s invasion has already driven up oil prices.
Posted inBusiness, Local & State
In a cold winter, Maine household budgets buckle under growing energy burden
Skyrocketing prices for electricity, heating oil and gasoline are hitting Mainers especially hard when the mercury falls.
Posted inBusiness, Nation & World
Biden has long-term inflation plan, but voter patience is short
He believes a cluster of companies control too many industries, which reduces competition for customers and workers.
Posted inBusiness, Local & State
Maine businesses and residents feel inflation’s bite
Business owners and consumers say higher prices threaten to slow the state’s economic recovery as inflation hits a 40-year high.
Posted inBusiness, Uncategorized
What’s really going on with inflation? Economists weigh in
Consumers are eager to spend, and suppliers aren’t able to keep up with the demand.
Posted inBusiness, Nation & World
U.S. inflation soared 7% in past year, the most since 1982
Prices rose sharply in 2021 for cars, gas, food and furniture as part of a rapid recovery from the pandemic recession.