Economy

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U.S. animal shelters are overcrowded with pets from families facing economic woes

By Michael Hill, Associated Press

Operators believe the influx of more animals is due largely to higher pet care costs and housing issues. And they're in crisis mode as they try to reduce the kennel crush.

Congressional Budget Office projects lower inflation and higher unemployment into 2025

By Fatima Hussein, Associated Press

The office's Current View of the Economy from 2023 to 2025 report, released Friday, estimates that the unemployment rate will hit 4.4 percent in the fourth quarter of 2024 and remain close to that level through 2025.

Airbnb agrees to pay $621 million to settle a tax dispute in Italy

By Associated Press

Airbnb said in a statement on Wednesday that it was working on introducing new tools that would allow hosts to have their taxes withheld automatically by Airbnb and paid to the Italian authorities on their behalf.

U.S. homelessness up 12 percent to highest reported level as rents soar and pandemic aid lapses

By Kevin Freking, Associated Press

Federal officials Friday said soaring rents and a winding down of coronavirus pandemic assistance combined to put housing out of reach for more Americans.

U.S. officials confiscate over 1.4 million illegal e-cigarettes from overseas manufacturers, including the maker of Elf Bars

By Matthew Perrone, Associated Press

The Food and Drug Administration pegged the value of the e-cigarettes seized at Los Angeles Airport at $18 million.

WATCH: Biden delivers remarks on lowering prescription drug prices during visit to NIH

By Amanda Seitz, Associated Press

Hundreds of thousands of older Americans could pay less for some of their outpatient drug treatments beginning early next year, the Biden administration announced Thursday.

After recalls and infections, experts say safer eyedrops will require new FDA powers

By Matthew Perrone, Associated Press

Unlike prescription drugs, eyedrops and other over-the-counter products don't get preliminary review by the Food and Drug Administration.

Dow hits a record after the Fed signals rate cuts in 2024

By Stan Choe, Associated Press

A powerful rally across Wall Street sent the Dow Jones Industrial Average to a record on Wednesday after the Federal Reserve indicated that the cuts to interest rates investors crave so much may be coming next year.

Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year

By Christopher Rugaber, Associated Press

Those envisioned rate cuts — which wouldn't likely begin until the second half of 2024 — suggest that the officials think high borrowing rates will still be needed for much of next year to further slow spending and inflation.

WATCH: Federal Reserve Chair Jerome Powell holds news briefing following interest rate meeting

By Christopher Rugaber, Associated Press

The Federal Reserve kept its key interest rate unchanged Wednesday for a third straight time, and its officials signaled that they expect to make three quarter-point cuts to their benchmark rate next year.