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Federal Reserve Chairman Jerome Powell will testify in the House on Thursday as part of his semiannual report to Congress on the state of the ecnonomy -- which is being hampered by steep inflationary pressures.

The U.S. Federal Reserve's big interest rate hike on Wednesday -- and the expectation of more to come -- is aimed at bringing down 40-year high inflation topping 8% on an annual basis in recent months.

The Fed hiked its key interest rate by the most since 1994 to fight inflation. It forecast more big increases that will impact rates for consumers.

The Federal Open Market Committee released its decision on interest rates Wednesday, with markets expecting a three-quarter point hike.

Markets face another half-point rate hike this week and the prospect of sharper increases ahead when the Federal Reserve concludes its two-day policy-setting meeting Wednesday.

(Bloomberg) -- Former Federal Reserve Bank of New York President Bill Dudley said the U.S. central bank should stop sugarcoating its message on how high interest rates need to go -- and how much pain that will cause -- to get inflation under control.Most Read from BloombergDont Bother Paying Off

St Louis Fed President James Bullard on Wednesday said he supports a plan for the central bank to hike rates by 50 basis points in June and July.

Bitcoin undefined pushes towards $40,000, a psychological level, as the Federal Reserve Chairman Jerome Powell speaks Wednesday after the central bank raised...

It's clear that the Biden administration and Fed are working together to create a controllable, traceable, programmable digital currency.

The president has asked the Treasury to examine the feasibility of a "digital dollar."

Goldman Sachs now expects the Fed to hike interest rates by 50 basis points in both May and June. Fed Chair Jerome Powell said Monday the central bank is ready

"The odds of a 50 bps rate hike are rising," analysts say.

Crypto analysts are divided on lingering market impact of recent Fed rate hike decisions.

As the race against Chinas development of its central bank digital currency (CBDC) known as the digital yuan continues, the U.S. Federal Reserve accomplished a feat in testing a design for a U.S. digital dollar that in one of two tests, managed to handle 1.7 million transactions per second.

The Fed might not act as decisively in tightening monetary policy if financial stability concerns start to outweigh the risk of fast inflation.

The Fed Is Bailing Out The Wealthy As Everyone Else Pays The Price Authored by Ryan McMaken via The Mises Institute, The Federal reserve says that inequality is a problem. At the same, the Fed also pretends to have nothing to do with it. Last September, f

The U.S. economy is still far from maximum employment and it is not time to change interest rates, New York Federal Reserve Bank President John Williams said Thursday.

The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy.

The New York Federal Reserve is taking out the big guns to calm panicky financial markets.

Federal Reserve Chair Jerome Powell on Friday said the US economy remains in solid condition although the coronavirus outbreak poses a risk and the central bank will act as appropriate to provide support. "The fundamentals of the US economy remain str