Dec 15 Fed will tighten credit faster and sees 3 rate hikes in 2022 amid inflationary pressure By Christopher Rugaber, Associated Press In an abrupt policy shift, the Fed announced Wednesday that it will shrink its monthly bond purchases at twice the pace it previously announced, likely ending them altogether in March. Continue reading
Dec 15 WATCH: Jerome Powell says Federal Reserve will tighten credit amid inflation surge By Christopher Rugaber, Associated Press With inflation surging and unemployment falling, the Federal Reserve said Wednesday that it will shrink its support for the economy more quickly and expects to raise interest rates three times next year. Continue reading
Dec 15 Congress sends Biden $2.5 trillion debt limit hike, averting default By Brian Slodysko, Associated Press Capping a marathon day, the House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections. Continue reading
Dec 13 OSHA opens investigation after Amazon warehouse collapses during tornado, killing 6 By Matt O'Brien, Associated Press Amazon said workers at the warehouse had little time to prepare when the National Weather Service declared a tornado warning on Friday night. The tornado arrived soon after, collapsing both sides of the warehouse and caving in its roof. Continue reading
Dec 13 Lebanon's currency continues to tank amid economic collapse By Associated Press The economic collapse has been described as one of the worst in the world in over 150 years. Inflation and prices of basic goods have skyrocketed in Lebanon, which imports more than 80 percent of its basic goods. Continue reading
Dec 13 Biden aims to cut bureaucratic runaround for government services By Josh Boak, Associated Press Monday's order will attempt to streamline a broad range of services: renewing passports, applying for Social Security benefits, getting aid after natural disasters and much more. Continue reading
Dec 12 Watch 6:17 Climate change threatens Michigan's Fishtown and its historic shanties By Hari Sreenivasan, Aaron Martin, Laura Fong Preservationists in a tiny lakeside community in Michigan are using new approaches to fight the threat of flooding caused by climate change. While the fishing industry has struggled in the region, saving the historic buildings in Fishtown is critical to… Continue watching
Dec 12 Inflation is painfully high, but some relief may be coming By Stan Choe, Cathy Bussewitz, Associated Press Prices have dropped on global markets for crude oil and natural gas, which is filtering into lower prices at the pump and for home heating. That should keep inflation somewhat in check, even if prices keep rising elsewhere in the… Continue reading
Dec 10 Watch 5:35 How the WH plans to tackle inflation, and how the Build Back Better bill may ease pressure New data released by the U.S. Department of Labor Friday show consumer prices are surging at a rate not seen in almost four decades. Inflation is up 6.8 percent in November as compared to last year, due in large part… Continue watching
Dec 10 U.S. government deficit down 17 percent from same period a year ago By Martin Crutsinger, Associated Press The improvement reflected government revenues that have been rising at a faster pace than spending over the past two months. Continue reading