In the waning days of August, Elia had enough money to either pay for next month’s rent or cover back-to-school expenses for her two teenage children. But not both. It was the latest in a long line of financial dilemmas that Elia, an undocumented domestic worker from Mexico, has faced […]
adrift
Stocks adrift after Powell’s inflation plan; Walmart, Microsoft rally on TikTok deal
Powell unveiled a new framework of thinking for the central bank that will tolerate inflation “moderately” above its 2% target. The Fed also committed to reviewing this policy every five years. The Fed chief warned that the persistence of low inflation over the last eight years risks new economic difficulties. “Many find […]