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Federal Reserve
The steepest rate hike in roughly 40 years took a toll on clean energy investments.
Inflation has fallen, and the labor market is still healthy. So why did the central bank act more aggressively than many had been expecting?
But the Fed faces a big decision about how much to cut in its quest to achieve a soft landing after years of inflation.
The figures depict a job market slowing under the pressure of high interest rates but still growing.
WHAT'S HAPPENING
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high.
The economy suffered an unexpected setback in July, after employers added just 114,000 jobs in July 35% fewer than forecasters had expected
Led by Sen. Elizabeth Warren (D-Mass.), the senators say high rates may be contributing to higher prices for things like insurance.
Last months job growth amounted to a solid increase, though it was the lowest monthly job growth since October.
Ahead of this year's presidential election, the central bank chief said that unemployment is low, with inflation receding and growth continuing.
Wall Street returned to record heights and capped a punishing, two-year round trip dogged by high inflation and worries about a possible recession.
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