Fed issues largest rate hike in decades

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The Federal Reserve issued its largest interest rate hike in nearly three decades as it tries to slow the economy without causing a recession. Carter Evans has more on what that means.
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American Petroleum Institute Senior Vice President Frank Macchiarola details a study that found Biden’s five-year offshore oil and gas lease programs cost the U.S. the same amount of oil imported from Russia before its invasion of Ukraine. American Petroleum Institute Senior Vice President Frank Macchiarola slammed President Biden for outsourcing U.S. oil, claiming his policies…
Mississippi will become the final state with a law requiring equal pay for equal work by women and men. The law will become effective on July 1. A 1963 federal law requires equal pay for equal work, but Mississippi has the only state without its own law since Alabama enacted one in 2019. Mississippi Gov….
Miami Mayor Francis Suarez discusses ‘MiamiCoin’ and how crypto can impact the state of the economy. Bitcoin has had a rough week just like equities. The cryptocurrency has traded down for five straight days. Bitcoin fell below $40,000 for the second time this month and is off more than 10% for the month. The…
Piper Sandler chief investment strategist Michael Kantrowitz tells investors to stay defensive, and not to call a market bottom until 2023. U.S. stocks were mixed on Thursday as concerns over Federal Reserve interest rate hikes and high inflation continue to worry investors. The Dow Jones Industrial Average was down 228 points, or 0.73%, while…
Elon Musk said he will pay more than $11 billion in taxes this year, a week after taking to Twitter to say he will face the largest tax bill out of “any American in history.” Earlier this year, the Tesla CEO and SpaceX founder became the first person in the world to reach a net…
Watch the CBS Reports documentary “Women in the Workplace: The Unfinished Fight for Equality” in the video player above. Women have long battled barriers in the workforce as they fought for equality with their male colleagues. Those battles continue as women demand equal pay and representation at the highest levels. “The Me Too movement and the Time’s…
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