America’s employers are posting more job openings than they did before the pandemic struck 2.5 years ago. Problem is, there aren’t enough applicants.
are now below where they were a year ago — costs are still rising fast in much of the economy’s vast service sector. As a result, the Fed is expected Wednesday to raise its benchmark short-term rate for a seventh time this year, though by a smaller amount than it has recently.
Yet with price increases still uncomfortably high, Powell and other Fed officials have underscored that they expect to keep rates, possibly through next year. On Wednesday, members of the Fed’s rate-setting committee will update their projections for interest rates and other economic barometers for 2023 and beyond.
Higher wages also typically spur Americans to keep spending, a trend that can perpetuate a cycle that keeps prices high. Soini and her partner are financially secure, she said. She puts the likelihood of her ever returning to work at maybe one-third. She quit a volunteer job she had taken once it began to seem like work.
“It’s hard enough finding workers, but a bench jeweler is a dying breed,” said Moriarty, referring to an artisan who does stone setting and engraving. “You just can’t bring someone in with no experience.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Interest rates are going up, again, as Federal Reserve tries to tame inflation.The Federal Reserve is meeting this week and is expected to continue raising interest rates in an effort to fight stubborn inflation.
Read more »
Federal Reserve to announce last rate hike of the year, other central banks to join inRate cuts generally act like steroids for stocks and other investments, but the Fed has been insisting it plans to hold rates at a high level to ensure the battle against inflation is won.
Read more »
Opinion | The Federal Reserve Needs a Hard Look in the MirrorFrom WSJopinion: If the Fed tackles a review and takes steps to acknowledge and correct the shortcomings of its 2020 strategy, it can strengthen its credibility and improve future monetary policy, write Mickey D. Levy and Charles Plosser
Read more »
GBP/USD traders in high anticipation of Federal Reserve and Bank of EnglandThe British Pound is firm on Monday within a bullish cycle that targets the 1.2400 area in what would be a measured move to the upside from the recent
Read more »
EUR/USD stays defensive above 1.0500 with eyes on US Federal Reserve, European Central BankEUR/USD treads water around 1.0530 as the bumper week begins, having witnessed the first weekly loss in three. In doing so, the major currency pair po
Read more »
USD/JPY eyes establishment above 137.00 as anxiety soars ahead of Federal Reserve policyUSD/JPY is hovering around the critical hurdle of 137.00 in the early European session. The asset is aiming to shift its business profile above the af
Read more »