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Battling inflation that remains at four-decade highs, the Federal Reserve said Wednesday it hiked its key interest rate by another 0.75%. "Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures," the Fed said in its statement Wednesday. It added it is "strongly committed to returning inflation to its 2% objective."  The rate hikes this year have unfolded against the backdrop of a consumer price index that has remained elevated. In September, it clocked in at 8.2% on an annual basis. Food and energy price increases were higher. Even stripped of those two items, whose price swings tend to be more volatile, the index saw its largest increase since 1982. In a press conference following the release of the central bank's statement, Fed Chairman Jerome Powell said Americans can expect more rate increases , though perhaps not of the same magnitude as the most recent ones. ...

Unemployment among China's youth aged between 16 and 24 has surged to nearly 20%, according to an official survey for July. Pictured here is a job fair in Beijing on Aug. 26, 2022. Jade Gao | Afp | Getty Images BEIJING — More people in China and Brazil are worried about their jobs than in the U.S. and U.K., according to a survey by consulting firm Oliver Wyman released this month. In China, 32% of respondents said they were concerned about the impact of inflation on their job security, as did 30% of respondents in Brazil, the report said. But in the U.S. and U.K., that figure was just 13%, the survey found. Unemployment among China's young people aged between 16 and 24 has surged to nearly 20%, while that of the working age population in cities is about 5.4%, according to an official survey for July. In Brazil, the unemployment rate as of July was 9.1%, official data showed. The unemployment rate in the U.S. was a far lower 3.5% in July, and 3.6% in the U.K., according to go...