Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most

The Fed is expected to fire off another three-quarter point rate hike — its third in a row. It will also release quarterly forecasts for inflation, the economy, and the future path of interest rates Wednesday at 2 p.m. ET.

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Inflation rose faster than expected in August, keeping prices painfully high

The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in August from a year ago. Prices climbed 0.1% in the one-month period from July.

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Deadline to avoid a national rail strike which could cost economy $2 billion a day is near

On the heels of the latest round of labor negotiations between the National Mediation Board, unions, and freight railroads, the Association of American Railroads has released a report projecting that the economic impact of a nationwide railroad strike could be more than $2 billion a day.

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Unemployment Rate Jumps and Job Gains Slow in August

U.S. nonfarm payrolls added 315,000 jobs in August, substantially less than the 526,000 gain in July. The July estimate was revised down by 2,000 from the original estimate of 528,000. June was also revised down, now estimated to have increased 293,000, 105,000 less than the previous estimate of 398,000.

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California’s ban on gas-powered cars won’t be easy

California made it official last week — the state will ban sales of gasoline-powered new cars after 2035.

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Energy Crisis Tearing Through Markets Leaves a Trail of Losers

The energy crisis that’s sent inflation soaring across the world is getting worse each week, leaving stock traders with a challenge to figure out where to put their money.

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