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- A currency trader gestures in front of the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate of South Korean won against the U.S. dollar at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 17, 2022. Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity. (AP Photo/Ahn Young-joon)
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Asian stocks follow Wall St lower on economy fears
By JOE MCDONALD - AP Business Writer
Thu,06/16/22-1:32AM , 1,157 Reads
BEIJING (AP) — Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity.

Tokyo, Seoul and Sydney fell. Shanghai and Hong Kong advanced. Oil prices edged lower but stayed above $115 per barrel.
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- Federal Reserve Chairman Jerome Powell news conference is displayed on televisions while traders work on the floor at the New York Stock Exchange in New York, Wednesday, June 15, 2022. The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession. (AP Photo/Seth Wenig)
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Fed's aggressive rate hikes raise likelihood of a recession
By PAUL WISEMAN - AP Economics Writer
Wed,06/15/22-5:53PM , 313 Reads
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed's efforts so far to tame it.
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- Credit cards as seen Thursday, July 1, 2021, in Orlando, Fla. Record low-interest mortgages are long gone. Credit card rates will likely rise. You'll pay more for an auto loan. The unusually large three-quarter point hike, Wednesday, June 15, 2022 in the Fed's benchmark short-term rate is going to have a lot of impacts on Americans' finances. The hope is that by making borrowing more expensive, the Fed will succeed in cooling demand for homes, cars and other goods and services and slow inflation. (AP Photo/John Raoux, File)
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This is how a higher Fed rate could affect your finances
By CHRISTOPHER RUGABER - AP Economics Writer
Wed,06/15/22-3:40PM , 757 Reads
WASHINGTON (AP) — Record-low mortgages are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally see a noticeable return.
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- President Joe Biden addresses the AFL-CIO convention, Tuesday, June 14, 2022, in Philadelphia. (AP Photo/Susan Walsh)
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Biden tells oil refiners: Produce more gas, fewer profits
By JOSH BOAK AND CATHY BUSSEWITZ - Associated Press
Wed,06/15/22-4:22AM , 310 Reads
President Joe Biden on Wednesday called on U.S.
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