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Fed interest rates

Fed officials likely to hike interest rates another 0.75 percentage point

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On August 26, in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell made a public pledge to reduce inflation, even at the expense of the...
interest rate

Interest rate hikes drive monthly loan and lease payments to 4-year...

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In an effort to curb out-of-control inflation, the Fed's recent interest rate hikes are starting to be felt by dealers and consumers alike. However,...
climate action

Manchin, Schumer reach surprising deal on hefty climate action bill

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In a surprise turn of events, Senate Majority Leader Chuck Schumer and Senator Joe Manchin announced a deal that includes $369 billion for energy and...
Sonic Automotive

Sonic Automotive reports all-time record revenues and gross profit for Q2

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Sonic Automotive has reported its second quarterly earnings. According to a press release, Sonic Automotive had an all-time record adjusted earnings of $3.7 billion,...
emissions

GDP slips 0.9% for second straight quarterly decline—Biden, Yellen deny US...

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According to the Bureau of Economic Analysis, US GDP, or gross domestic product, shrank by 0.9% in the second quarter. To tackle inflation and decrease the...
Ford CEO Jim Farley in front of Ford logo

Ford Q2 earnings surpass expectations, raises shareholder dividend 50%

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Despite trouble with the global supply chain, Ford's adjusted earnings has tripled from a year ago to $3.7 billion as it increases deliveries. After the news was released,...
Rivian

Rivian confirms at least 800 layoffs, shifts focus to accelerating production

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Amy Mast, a spokesperson for Rivian Automotive, has confirmed in an email that at least 6% or 800 out of 14,000 of its employees will be...
interest rates

Fed raises interest rates 0.75 points for the second time as...

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In an effort to curb rising prices, the Federal Reserve hiked interest rates by another 0.75% Wednesday afternoon, the same amount as its last move in...
Edmunds

Edmunds’ Jessica Caldwell shares update on inventory shortages, interest rates, and...

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Back in 2020, the automotive industry started experiencing supply chain delays that continue to impact the market today. On this edition of Inside Automotive,...

Fed raises interest rates by 0.75%, sees more hikes coming down...

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The Federal Reserve is finally stepping in once again to fight inflation and the tumultuous housing market. The Fed raised interest rates by 0.75%...