Federal interest rate hikes are here: How will it impact your finances?

Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though.

Fed hikes rate by three-quarters of a point in continued fight against inflation

The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.

Existing home sales drop to lowest level since 2020

Sales of previously owned houses fell in August for the seventh consecutive month as rising interest rates pushed potential homebuyers out of the market.

Gap slashes 500 corporate jobs after pandemic, supply chain issues

The job cuts follow years of struggles at the San Francisco-based retailer, which operates stores under its namesake brand as well as Old Navy, Banana Republic and Athleta.

Here's how much more you'll pay to heat your home this winter

The average cost of heating a household this winter is set to increase by 17.2%, according to a forecast by the National Energy Assistance Directors Association.

EXPLAINER: How the strong U.S. dollar can affect everyone

After rising again Friday, the dollar is near its highest level in more than two decades against a key index measuring six major currencies, including the euro and Japanese yen.

Biden administration moves closer to creating a digital dollar

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar.

Biden, S. African leader meeting to discuss Ukraine, climate issues, trade

The White House meeting between the two leaders is also an effort for the Biden administration to improve relations with South Africa to handle global issues.

Social Security cost-of-living increase could be largest in 40 years, estimate says

For the average retiree who got a monthly check of $1,656 this year, an adjustment of 8.7% would boost the payment by $144.10, according to an advocacy group’s estimate.

Tentative railway labor agreement reached, averting strike, Biden says

President Joe Biden that a tentative railway labor agreement has been reached Thursday morning, averting a potentially devastating strike that could have halted shipments of food and fuel.

Rail strike could hit Atlanta consumers hard

Nearly a third of the nation’s freight moves by rail. That means the stuff you buy like food gasoline and consumer products would go up in price again.

Union members reject deal 2 days before deadline to avoid massive rail strike

A potential strike could impact shipments of everything from clothes to cars, hurting businesses nationwide as they deal with ongoing supply chain problems. The deadline to avoid a strike is Friday.

Dow falls 1,250 as inflation maintains grip on US economy

Many of the data points within the inflation report were worse than economists expected, including some the Fed pays particular attention to, such as inflation outside of food and energy pri

Inflation falls for 2nd consecutive month on lower gas prices

Inflation has driven up the costs of families’ grocery bills, rents, and utility costs, placing hardships on households and increasing gloom about the economy despite job growth and low unemployment.