Business

Cleveland Federal Reserve President Beth Hammack on Monday said that she thinks there will be a need for more than one interest rate hike to prevent inflation from becoming more entrenched across the economy.Hammack made the comments in an interview with Yahoo Finance that followed her dissent from the Fed's decision to leave interest rates unchanged. She and two other members of the central bank's monetary policy panel voted in […]

The federal budget deficit is now expected to surpass $2 trillion this fiscal year, which would be one of the largest shortfalls on record as spending growth continues to outpace tax receipts.The nonpartisan Congressional Budget Office (CBO) on Monday released its monthly budget update for July, which showed the federal government ran a nearly $1.8 trillion deficit through the first 10 months of fiscal year 2026, which runs through the […]

Chrysler is recalling nearly 50,000 vehicles over a seat belt defect that could increase the risk of injury in a crash, according to federal regulators.The recall affects certain 2023-2025 Dodge Hornet and 2023-2026 Alfa Romeo Tonale vehicles, according to the National Highway Traffic Safety Administration (NHTSA).A total of 48,777 vehicles are covered by the recall, the NHTSA said in its announcement, noting that an estimated 1.6% have the defect.CHRYSLER RECALLS 1.27M […]