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Inflation rises to a 3-year high on spiking gas prices, highlighting affordability challenges

By Christopher Rugaber, Associated Press

Rising gas prices pushed inflation to its highest level in three years last month, a headache for the Federal Reserve and a potential political challenge for the Trump administration as midterm elections near.

Social Security's retirement trust fund faces a projected funding shortfall in 2032, a year earlier than expected

By Fatima Hussein, Associated Press

Medicare's hospital insurance trust fund will be unable to pay full benefits in 2033, unchanged from last year's estimate.

Apple unveils new AI features with privacy focus at last developers conference with CEO Tim Cook

By Barbara Ortutay, Associated Press

While the iconic iPhone maker has been playing catch-up with rivals when it comes to AI, it sought to distinguish itself from its peers by stressing a privacy-centered approach and integrating AI across its devices and apps.

U.S. mortgage rates are staying high – and the Federal Reserve can do little about it

By Michael J. Highfield, The Conversation

Investors’ inflation expectations, much more than the central bank, are among the factors that affect the cost of home loans.

Why hiring surged in May despite economic strain from the Iran war

By Amna Nawaz, Diane Lincoln Estes, Jackson Hudgins

There was surprising strength in the latest U.S. jobs report. Employers added 172,000 jobs in May, the third straight month of job gains. Overall, the labor market appears strong despite concerns about the Iran war, rising prices and artificial intelligence.

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What may happen as oil supplies dwindle and Strait of Hormuz remains mostly closed

By Geoff Bennett, Zeba Warsi

As U.S.-Iran talks show little sign of progress, commercial traffic through the Strait of Hormuz remains sharply reduced, raising concerns about global energy markets and supply chains. Geoff Bennett speaks with energy analyst Daniel Yergin, vice chairman of S&P Global,…

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WATCH: Trump holds roundtable with farmers in Wisconsin

By Associated Press

“We love the farmers, we love everything about your state,” President Donald Trump told his audience at a rally being held in a barn in Chippewa Falls, Wisconsin, on Friday.

U.S. job market is strong, but many Americans still frustrated by prospects and rising prices

By Paul Wiseman, Anne D'Innocenzio, Associated Press

With just five months to go before consequential midterm elections in the U.S., Americans have grown increasingly frustrated by rising costs, and it’s unclear if the strong job numbers this year will change their gloomy view of the economy.

Treasury warns banks of 'red flags' tied to customers in the U.S. illegally

By Fatima Hussein, Ken Sweet, Associated Press

The Financial Crimes Enforcement Network — also known a FinCEN — issued an advisory Friday to banks that tells them to watch out for identity theft, payroll tax fraud, and money laundering schemes tied to hiring unauthorized workers.

172,000 jobs added in May, showing market resilience despite Iran war

By Paul Wiseman, Associated Press

Hiring has bounced back this year from a miserable 2025, showing unexpected strength in the face of economic uncertainty and painfully high energy prices caused by the Iran war.