Beech Tree News Network

For the 14th consecutive week, the nation’s average gas price has fallen, down five cents from a week ago to $3.65 per gallon as of Tuesday afternoon, according to GasBuddy.com, a website and mobile app that tracks retail fuel prices. It’s the same story in Kentucky, where the average price has dropped to $3.26 per gallon, down seven cents from last week. That’s 25 cents per gallon cheaper than a month ago, but is still 31 cents higher than one year ago at this time. * * * Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed’s drive to curb inflation by aggressively raising interest rates, he said, would “bring some pain" for Americans. When the Fed ends its latest meeting Wednesday and Powell holds a news conference, Americans will likely get a better idea of how much pain could be in store. The central bank is expected to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would boost its benchmark rate — which affects many consumer and business loans — to a range of 3% to 3.25%, the highest level in 14 years. * * *