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Fed Seen Jacking Interest Rates Further As U.S. Inflation Soars

U.S. Federal Reserve Board Chair Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022. Brendan Smialowski/Pool via REUTERS
Investors boosted bets on Wednesday the U.S. Federal Reserve could deliver an even bigger interest-rate hike at its policy meeting later this month after a worse-than-expected inflation report showed price pressures, already running at a 40-year high, accelerating further.
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Utility poles lead to downtown Dallas during a heat advisory due to scorching weather in Dallas, Texas, U.S. July 12, 2022.

Texas Power Grid Operator Again Feels Strain Of Extreme Heat

Texas's power grid operator asked homes and businesses on Wednesday to again conserve electricity, by raising thermostats and turning off appliances, amid stifling heat that threatened to push power demand beyond the state's available supply.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2022.

Wall Street Falls As Inflation Data Fuels Rate Hike Fears

Wall Street's main indexes slid on Wednesday after hotter-than-expected inflation data fanned fears that the Federal Reserve might take a more aggressive stance on interest rate hikes, potentially tipping the economy into a recession.
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Biden Heads To Israel For High-stakes Middle East Visit

U.S. President Joe Biden arrives in Israel on Wednesday to kick off a high-stakes trip to the Middle East dominated by efforts to persuade Gulf allies to pump more oil and bring Israel and Saudi Arabia closer together.
People gather at Robb Elementary School , the scene of a mass shooting in Uvalde, Texas, U.S. May 25, 2022.

Texas Newspaper Posts Video Of Police Responding To Uvalde Shooting

A Texas newspaper on Tuesday posted video of police and federal agents responding to the shooting at an Uvalde elementary school in May, footage at the center of a debate among state and local officials as they investigate the actions of law enforcement in the rampage.

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