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Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point, the most aggressive step yet in its fight against a 40-year high in inflation."Inflation is much too high and we understand the hardship it is causing....

Worker output fell 7.5% in the first quarter, the biggest decline since 1947

People work at the Rivian Automotive electric vehicle factory in Normal, Illinois, April 11, 2022.Kamil Krzaczynski | ReutersWorker productivity fell to start 2022 at its fastest pace in nearly 75 years while labor costs soared as the U.S. struggled with surging Covid cases,...

Taiwan’s ‘biggest offshore wind farm’ generates its first power

An offshore wind turbine in waters off Taiwan. Taiwan's Ministry of Economic Affairs says it's targeting 20% renewable energy generation by the middle of this decade.Billy H.C. Kwok | Bloomberg | Getty ImagesA large-scale offshore wind farm in waters off the coast of...