Business & Economy
Associated Press/Photo by Tasos Katopodis (file)

Fed to keep interest rates low

by Kyle Ziemnick
Posted 8/27/20, 01:28 pm

WASHINGTON—The Federal Reserve usually raises interest rates when inflation climbs over 2 percent. But Fed Chairman Jerome Powell announced Thursday that the central bank of the United States is changing that and will keep rates near zero even if inflation goes up, making household and business borrowing easier. Powell said the reduced interest has helped low- and moderate-income families during the coronavirus pandemic: “The robust job market was delivering life-changing gains for many individuals, families, and communities.”

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Associated Press/Photo by Mark Lennihan

Stocks get a boost

by Kyle Ziemnick
Posted 8/05/20, 04:48 pm

The S&P 500 climbed to within 2 percent of its record high on Wednesday, giving Wall Street its fourth straight day in positive territory. Walt Disney Co. stocks spiked by more than 8 percent after the company announced expectation-beating profits and huge gains in its video-streaming service, Disney+. Experts suggest the growth could come from the perception that the coronavirus pandemic has had a less severe effect on corporations than expected.

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Associated Press/Photo by Lynne Sladky (file)

Consumer confidence grew in June despite the coronavirus

by Kyle Ziemnick
Posted 7/31/20, 01:21 pm

Even though average personal income fell by 1 percent, consumer spending jumped by 5.6 percent in June, the U.S. Department of Commerce reported on Friday. The gross domestic product dropped last month, but reopening businesses and federal stimulus checks appeared to boost consumer confidence. June marked the second straight month of gains in spending after a plunge in March and April.

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