Federal Reserve

Former Fed Governor Robert Heller on Why Rate Hikes Need to Stop Now

text size Money supply is declining in absolute terms. Further tightening by the US Federal Reserve risks triggering a recession, writes Robert Heller. Al Drago / Bloomberg About the author: Robert Heller is a former member of the Board of Governors of the Federal Reserve System. Inflation is the most important issue facing the economy …

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Inflation Is on the Right Track as Fed’s Preferred Gauge Cools Again

text size The Fed is closely watching tightness in the labor market as a barometer for the health of the US economy. Above, a Chick-fil-A worker in Texas. Brandon Bell/Getty Images The Federal Reserve’s preferred measure of inflation rose 4.4% annually in December, down from 4.7% in November, the latest sign that the era of …

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Here are the latest tech layoffs as the industry shudders

The high-flying tech industry is facing a reckoning as the economy slows and customers pull back on spending. In the past month alone tech companies have cut nearly 50,000 jobs, reversing a hiring spree that surged during the pandemic as millions of Americans moved their lives online. Google-parent Alphabet is the latest to slash its …

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Larry Summers warns of 1970s economic crisis if banks back down on interest rates

Former Treasury Secretary Larry Summers warned on Friday that backing down on interest rates as a means of controlling inflation could precipitate a 1970s-style economic crisis. “I think to suppose that some kind of relenting on an inflation target will be a salvation would be a costly error that would ultimately have adverse efforts, as …

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