A back-and-forth discussion weighing which option would be best led to the Roanoke City Council deciding in a 5-2 vote that residents will receive 17.5% percent of the money back they paid on their personal property tax this year.
Federal Reserve Chair Jerome Powell said the pace of future rate hikes will depend on whether — and how quickly — inflation starts to decline, something the Fed will assess on a “meeting by meeting” basis.
After digging out of a daunting backlog from 2021, the agency has an even bigger backup for this tax season than it did a year ago, according to a watchdog report.
The key concern for investors has been whether aggressive interest rate hikes from the Federal Reserve and other central banks around the world will temper record high inflation without pushing the U.S. and other economies into a recession.
Analyst Patrick De Haan tweeted the national average stood at $4.999 per gallon, adding that consumers are poised to see a weekly decline for the first time in nine weeks.
He bristled at claims by Republican lawmakers that last year’s COVID-19 aid plan was fully to blame for inflation reaching a 40-year high, calling that argument “bizarre.”
In a draft letter to refiners, Biden says their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record high prices at the pump.
The move the Fed announced after its latest policy meeting will increase its benchmark short-term rate, which affects many consumer and business loans, to a range of 1.5% to 1.75%.
Stocks rose in roller-coaster trading on Wall Street Wednesday following the Federal Reserve’s sharpest hike to interest rates since 1994, and its assurance that such mega-hikes would not be common.
The company will construct a 1.7-million-square-foot precision manufacturing facility in Meadowville Technology Park, which will create more than 1,760 jobs.
Rising interest rates, high inflation, the war in Ukraine and a slowdown in China’s economy have led investors to reconsider what they’re willing to pay for a wide range of stocks.
From the roads, to the water, people continue to be hit hard by the prices at the pump. That extends to many residents and visitors who spend time at Smith Mountain Lake in the summer.
Biden will speak at the port, America’s busiest, on Friday with inflation persisting as a problem that has eluded his policy tweaks, deals brokered with the private sector, infrastructure spending and regulatory actions.
The situation could become worse if there are any unexpected issues at the nation’s refineries or a major hurricane that impacts oil production or refineries this summer.
In an effort to fight inflation, The Federal Reserve recently raised interest rates by half a percentage point, the biggest hike in two decades. Consumer Reporter Rachel DePompa talks with a financial consultant to explain what it means to your wallet.
President Joe Biden on Wednesday said he was not briefed on the prospect of nationwide shortages of infant formula for about two months, and he acknowledged the strain on families as his administration struggles to address the situation.
The company is expanding the facility by 73,000 square feet to accommodate new manufacturing lines for film extrusion and packaging and adding over 800 feet of new rail track to support the inflow of resin, an integral raw material for production.
“Axxor took a chance on Virginia in 2011 as an entry point into the North American market, and its continued growth in Pittsylvania County is a great success story.,”
The average U.S. commute now costs an extra $35 a month compared to pre-COVID and its far more in cities like Los Angeles, San Francisco, Chicago and New York.
The nation remains stuck in the painful grip of high inflation, which has caused particularly severe hardships for lower-income households, many of them people of color.
