Oct 14 WATCH: Biden addresses inflation for Americans at event in Southern California By Colleen Long, Associated Press Despite the president's efforts, inflation is rising, and Republicans are capitalizing on higher prices, seeing openings in California and elsewhere to potentially pick up U.S. House seats. Continue reading
Oct 14 As rent and food prices rise, retail sales remained flat in September By Anne D'Innocenzio The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things. Continue reading
Oct 13 Watch 5:00 News Wrap: Supreme Court refuses Trump request in Mar-a-Lago documents case In our news wrap Thursday, the U.S. Supreme Court refused former President Trump's request for an independent arbiter to examine classified White House documents found at his Mar-a-Lago estate, the U.S. Labor Department turned in another tough report on inflation… Continue watching
Oct 13 Watch 3:58 Inflation remains stubbornly high despite Federal Reserve's efforts to stabilize costs By Amna Nawaz The latest inflation numbers are still above 8%, a 40-year high with prices rising for housing, medical care, new cars, air travel and more. It will almost surely mean another significant interest rate hike in a few weeks. Economist Diane… Continue watching
Oct 13 Watch 5:36 Will the bump in Social Security benefits be enough to offset inflation? By Paul Solman, Ryan Connelly Holmes, Karina Cuevas For older Americans and retirees, there was some helpful news to accompany the latest inflation report. Americans taking Social Security will see an 8.7% bump in their benefits. That's starting in January thanks to the 2023 cost of living adjustment,… Continue watching
Oct 13 After rocky morning, stocks mount biggest comeback in years By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press The S&P 500 jumped to a gain of 2.6 percent, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two years. Continue reading
Oct 13 Despite economic turmoil, UK Treasury chief says tax-cutting plan stays By Danica Kirka, Jill Lawless, Associated Press Britain's Treasury chief has rejected suggestions that the Conservative government would reverse course on economic plans that have roiled financial markets. Continue reading
Oct 13 Costs of housing and services accelerated U.S. inflation in September By Christopher Rugaber, Associated Press The jump in inflation last month is a sign that the Fed’s five rate hikes this year have so far done little to cool inflation pressures. Continue reading
Oct 13 Social Security benefits to get historic 8.7 percent boost next year By Fatima Hussein, Associated Press It's welcome news for American retirees and others, but also tempered by the fact that it’s fueled by high inflation that’s raised the cost of everyday living. Continue reading
Oct 12 Watch 5:00 News Wrap: Parkland jury deliberates Cruz sentence, new protests sweep Iran In our news wrap Wednesday, a jury in Florida starts deliberating on whether Parkland school shooter Nikolas Cruz will be sentenced to death, seven more people were killed in Ukraine as Russia fired missiles and artillery rounds into major cities… Continue watching