The Fed lifted the federal funds target range by a quarter point to 3.75%-4.00% on Wednesday, its first increase in three years. What the decision says, why raising rates is meant to bring prices down, and what it means for borrowers, savers and jobs.
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Nonfarm payrolls rose by 162,000 in August, roughly three times the 53,000 economists expected, while the unemployment rate held at 4.1 percent. July was revised from a reported loss of 23,000 jobs to a gain of 21,000.
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The national debt has passed $40 trillion. Here's how fast it's rising, how both the Trump and Biden administrations doubled it, and which generation will actually shoulder it the longest.
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