Fed Holds Rates as Costs Rise and Innovation Accelerates
The Fed signals just one rate cut as inflation risks grow, fuel costs push travel prices higher, jobless claims dip, and Uber and Rivian unveil major robotaxi plans.
Fed Holds Steady on Interest Rate
The Federal Reserve Wednesday decided to hold interest rates right where they are.
And, despite nearly constant pressure from President Donald Trump, the Fed also indicated the cut he wants to badly is only likely to happen once this year.
The Fed held interest rates steady while projecting higher inflation, continuing unemployment and only a single rate cut for the year. All of that comes with escalating oil prices and the cost of the war in Iran. Read Full Article
Postal Service Could Be Broke By October
The head of the U.S. Postal Service says the USPS is going to need some more money before the end of the year if the agency continues to make required retirement and other payments to the government. Read Full Article
With Fuel Costs Spiking, Airlines Hiking Prices
Cars and trucks aren’t the only vehicles feeling the pinch at the pump as the war in Iran drags on.
The Los Angeles Times reported that jet fuel prices have also shot up, and that experts are saying airfares are following suit.
With a busy summer travel season approaching, airlines are starting to pass the costs on to passengers through higher fares and fees, the Times reported. Read Full Article
Unemployment Claims Take an Unexpected Dip
The number of Americans filing new applications for unemployment benefits took an unexpected dip last week, pointing to stable labor market conditions and a potential rebound in job growth in March. Read Full Article
Uber, Rivian Partner to Deploy Up To 50,000 Fully Autonomous Robotaxis
SAN FRANCISCO & IRVINE, Calif. – Rivian Automotive, Inc. and Uber Technologies, Inc. announced a partnership to help accelerate both companies’ autonomous vehicle plans, expecting to deploy 10,000 fully autonomous R2 robotaxis in the first phase of R2 robotaxi deployment.
Initial deployments are expected to begin in San Francisco and Miami in 2028 and will expand to 25 cities by 2031. Read Full Article