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Banking And Credit

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BUDAPEST, Hungary (AP) — From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide.

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WASHINGTON (AP) — Federal Reserve Chair Jerome Powell gambled last year that his ultra-low rate policies would help revive an economy that had sunk deep into a pandemic-induced recession. So far, his bet has mostly paid off.

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WASHINGTON (AP) — President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies helped bolster confidence and revitalize the job market.

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WASHINGTON (AP) — Two Democratic senators said Friday that they oppose the nomination of Jerome Powell to a second term as chair of the Federal Reserve, saying Powell has been insufficiently committed to fighting climate change, an issue that the world's central banks are increasingly confronting.

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FRANKFURT, Germany (AP) — The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won't add to the squeeze by raising interest rates anytime soon.

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WASHINGTON (AP) — President Joe Biden’s choice to become one of the top banking regulators endured a contentious nomination hearing Thursday, with Republican senators warning she would nationalize the U.S. banking system and Democrats saying she's eminently qualified and would be tough overseer of Wall Street.

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ANKARA, Turkey (AP) — Turkey’s Central Bank cut interest rates again Thursday, a day after President Recep Tayyip Erdogan spoke out against high borrowing rates and raising increasing concerns about the impact of soaring consumer prices on families and businesses.

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ISTANBUL (AP) — Market-stand owner Kadriye Dogru makes do with stale, sesame-covered bagels, known as simit, for lunch these days. The widowed mother of two says she goes without lunch so she can put food on the table for her family later in the day.

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