US rate hike expected despite crisis of confidence after third bank failure

The US central bank is widely expected on Wednesday to raise its main interest rate for the tenth consecutive month in the continuing battle against inflation, despite worries over the impact on bank balance sheets. While higher interest rates are generally good news for bank earnings, the Federal Reserve’s aggressive pace of rate rises in […]

The US economy added 311,000 jobs in February

The US economy added 311,000 jobs in February, according to the Labor Department’s monthly employment snapshot released Friday. That’s a retracement from January’s successful jobs report, when a revised 504,000 jobs were added, but it shows the job market is still evolving. The unemployment rate rose to 3.6% from 3.4%. Economists expected a net gain […]