US Consumer Price data for the month of September will be released later this Thursday, and is expected to stay high. Core prices, which exclude food and energy, are expected to have increased 6.5 percent annually last month, a rate not seen in 40 years.

Federal Reserve Chair Jerome Powell says he won't cause a deep recession but that "pain" is necessary to fight inflation. To curb the largest price increases in four decades, the US Federal Reserve has been raising interest rates this year.

Many central banks around the world are following the lead of the US Federal Reserve and raising their benchmark interest rates in order to rein in inflation. The Bank of Japan, however, is marching to the beat of its own drum. At a policy meeting this Thursday, the bank maintained its ultra-loose monetary policy in a bid to spur more internal demand. Meanwhile, the yen and many other currencies continue to fall against the dollar.

The Fed added 0.75% to its benchmark interest rate for a second straight time. The increase of the interest rate to its highest level in four years comes as inflation continues to reach new heights.

Federal Reserve raises key interest rate 0.75% as it tries to calm inflation. The Federal Reserve said on Wednesday that it is raising its benchmark interest rate by three-quarters of a percentage point, the sharpest hike since 1994, as it seeks to combat the fiercest surge in U.S. inflation in four decades.

The Fed raises interest rates by the most in over 20 years The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The US Federal Reserve is setting the stage to raise interest rates in March, to combat elevated inflation. It's also taking further steps to phase out its emergency support of the US economy. Nancy Vanden Houten, Lead US Economist at Oxford Economics, says America's central bank has limited tools to fight the surge in prices. Also in the show - workers at France's EDF go on strike, over government efforts to limit electricity bills.

The US Federal Reserve has opened the door to an interest rate hike and tapering of its emergency monetary stimulus. The central bank has warned, though, that the rising number of Covid-19 cases could impact economic growth. Christian Lawrence, Senior Markets Strategist at Rabobank New York, explains the impact on American households. Also on the show: Netflix seeks the golden ticket as it acquires the rights to late British author Roald Dahl's creations.

The US stock market received a boost from the Federal Reserve's announcement, with near-zero rates pushing capital towards shares. What was once a choice, before the coronavirus outbreak, might now be a necessity.

The US stock market received a boost from the Federal Reserve's announcement, with near-zero rates pushing capital towards shares. What was once a choice, before the coronavirus outbreak, might now be a necessity.

US Federal Reserve cuts interest rates for the second time in 2019

President Donald Trump tells reporters at the White House the Federal Reserve should be cutting interest rates and that he's not ready to make a trade deal with China.