Biden urges Congress to suspend gas tax for 3 months
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The Federal Reserve is turning to its most potent weapon to combat the highest inflation in 40 years: Boosting interest rates. On Wednesday, the central bank said it is increasing its benchmark short-term interest rate by 0.5%, marking the largest increase since 2000. The Fed’s goal is to tamp down demand from consumers and businesses…
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Unemployed factory worker sues as Virginia tries to claw back his jobless benefits
For 26 years, Ernest Ray worked at a company in southwest Virginia that made compressors, in a physically demanding job that involved night shifts on a factory floor. When the plant closed in 2018, Ray applied for and received about $9,000 in unemployment benefits. Three years later, Ray is fighting the Virginia Employment Commission in…
Mortgage rates surge to highest point since before COVID-19 pandemic
Mortgage rates surged this week as the housing market prepares for the Federal Reserve to hike interest rates. (iStock) Mortgage rates increased this week, rising to the highest point since January 2020 – a trend that is expected to continue through the remainder of the year, according to the latest data from Freddie Mac. The…
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Boeing, Qatar Airways strike deal for 777-8 freighter, 737 Max 10 orders
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