Economy May 07 Study: Lower-income Americans are using less gas but being hit the hardest by the price spike Lower-income Americans sharply reduced their gas consumption in the month following the Iran war, yet spiking prices still forced them to spend more at the pump, worsening the economy's economic disparities, new research released Wednesday showed.
Economy Apr 30 Key inflation gauge jumps to highest level in 3 years as Iran war spikes gas prices A key inflation measure jumped in March as gas prices soared, the latest sign that the Iran war is pushing up the cost of living and delaying any interest rate cuts by the Federal Reserve.
Politics Apr 29 WATCH: Committee sends Kevin Warsh's nomination for Fed chair to full Senate vote The Senate Banking Committee voted on party lines Wednesday to approve Kevin Warsh as the next chair of the Federal Reserve to replace Jerome Powell, a long-time target of President Trump’s insults for not cutting borrowing costs as far as…
Economy Apr 28 WATCH: Powell says he plans to stay at Fed after chair term ends amid legal attacks by the Trump administration “I worry these attacks are battering this institution and putting at risk the things that really matter to the public,” Jerome Powell said in fairly candid remarks at a press conference after the Fed announced its decision to keep its…
Politics Apr 24 Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh confirmation The decision ends an investigation, one of several undertaken by the Justice Department into President Donald Trump’s perceived adversaries, that for months had failed to gain traction as prosecutors struggled to articulate a basis to suspect criminal conduct.
Politics Apr 21 WATCH: Kevin Warsh testifies in Senate Banking confirmation hearing for Fed chair President Donald Trump’s nominee to chair the Federal Reserve said Tuesday that he never promised the White House that he would cut interest rates, even as the president renewed his calls for the central bank to do so.
Economy Apr 10 Soaring gas prices leads to biggest monthly inflation spike in four years in March It’s the first read on inflation to capture the effects of the Iran war.
Economy Apr 06 Top Fed official sees potential rate hike amid higher gas prices, inflation concerns A top Federal Reserve official said Monday that an interest rate hike could be appropriate if inflation remains persistently above the central bank's 2% target, the latest sign that some policymakers are moving away from a bias toward reducing borrowing costs.
Economy Mar 24 Chances of Fed cutting interest rates fade as inflation worsens With inflation measures likely to rise in the coming months, the prospect of interest rate cuts this year by the Federal Reserve is fading.
Nation Mar 22 Trump touted bigger tax refunds, but higher gas prices are likely to eat them up The large jump in tax refunds from President Donald Trump’s tax cut legislation was meant to boost the U.S. economy, but surging gas prices are on track to eat them up, leaving Americans with little extra to spend.