Fed’s Goolsbee Says Road to 2% Inflation May Not Be Painless

Federal Reserve Bank of Chicago President Austan Goolsbee warned the central bank cannot ignore repeated and persistent supply shocks, and must respond in a way that may cause economic hardship. “Supply shocks have come more frequently, hit harder and lasted longer,”...

Mark Walter’s Lieutenants Give Prosecutors Firsthand Accounts

Federal prosecutors have collected statements from some of billionaire Mark Walter’s most senior executives as authorities probe dealings at his insurance companies and the investment firm he runs, Guggenheim Partners LLC, according to people with knowledge of the...

US Mortgage Rates Rise for Fourth Straight Week, Approaching 7%

Mortgage rates rose for a fourth week, coming ever closer to 7%, a threshold that stands to worsen things for borrowers in the already-stalled US housing market. The average for a 30-year, fixed loan climbed to 6.95% from 6.76% a week earlier, Freddie Mac said in a...