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Business News

Fed cuts key rate, but Powell says future reductions are not locked in

WASHINGTON (AP) — The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring, even as inflation stays elevated. But Fed Chair Jerome Powell also cautioned that further rate cuts weren’t guaranteed, citing the ...

Federal Reserve likely to cut key rate

WASHINGTON (AP) — The Federal Reserve will almost certainly cut its key interest rate on Wednesday and could signal it expects another cut in December as the central bank seeks to bolster hiring. A cut Wednesday would be the second this year and could benefit consumers by bringing down ...

Vallourec Star gets tax credit for expansion in Youngstown

A specialized steel producer expects to create 40 full-time positions after receiving state assistance Monday to expand its Youngstown operations. The Ohio Tax Credit Authority, meeting in Columbus, approved a 1.126%, seven-year Job Creation Tax Credit for Vallourec Star LP’s project. ...

Wall Street rallies to more records

NEW YORK (AP) — Stocks climbed to more records on Monday ahead of a week packed with potentially market-moving events for Wall Street. The S&P 500 rose 1.2%. The Dow Jones Industrial Average added 337 points, or 0.7%, and the Nasdaq composite jumped 1.9%. Each of the trio set an ...

Wall Street hits records after encouraging update on inflation

NEW YORK (AP) — U.S. stocks hit records on Friday after an update on inflation came in a bit less painful than feared. The S&P 500 rose 0.8% and topped its prior all-time high, which was set earlier this month. The Dow Jones Industrial Average rallied 472 points, or 1%, and the Nasdaq ...