With more likely to follow, the rate hikes will eventually mean higher loan rates for many consumers and businesses.
“The deal pushes the game forward,” Yankees pitcher Gerrit Cole told the Associated Press.
Gas prices have already been on the rise since the Russian invasion of Ukraine. The move is likely to increase prices at the pump even more.
Although the United States is the world’s largest oil producer, it can’t meet domestic demand with domestic oil.
The Labor Department’s report Friday also showed that the unemployment rate dropped from 4% to 3.8%.
Congress will be revisiting this issue in December.
Adjustments in California were largely responsible for last week’s increase in filings.
The rules mandate that all employers with more than 100 workers require them to be vaccinated or test for the virus weekly.
The number of people who reported they had jobs surged by 1 million, pushing the jobless rate down from 5.9% in June. Last month, 261,000 people returned to the job market.
That’s even while the economy and job market appear to be rebounding.
