Used car prices slip from dizzy heights, signaling small victory for economy
Used car prices had rocketed more than 40% since before the coronavirus pandemic began — to an average of nearly $25,000. Now, the seemingly endless streak of skyrocketing used vehicle prices appears to be coming to a close.
Watch 10:40
Child tax credit should boost working families, Treasury Secretary Yellen says
Critics say monthly child tax credit payments, now available for more than 35 million American families, could discourage people from working, but Treasury Secretary Janet Yellen disagrees. The credit can help parents play for childcare to enable them to work,…
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Supply ‘bottlenecks’ are driving a consumer price surge. Here’s how that affects inflation
The Consumer Price Index rose 5.4% last month compared to a year ago — the biggest monthly jump since 2008. During testimony on Capitol Hill Wednesday, Federal Reserve Chairman Jerome Powell gave his assessment about the price surge and risks…
WATCH: Fed Chair Powell says inflation, though elevated, will likely moderate
Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating."…
In our news wrap Tuesday, the Federal Reserve and White House said they expect a consumer price surge, up 5.4 percent, to be temporary. There's fresh evidence that COVID-19 infections in the U.S. are rising again, mostly among the unvaccinated.
In our news wrap Wednesday, the Federal Reserve signaled it may raise a key, short-term interest rate — from near-zero — sooner than planned. The European Union called for lifting travel restrictions on Americans. North Korea's leader Kim Jong-un warned…
Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York.
Paul Volcker, who served as chair of the Federal Reserve for two presidents, died Monday. His passing came 40 years after he drove interest rates to record highs in an effort to tame double-digit inflation. Known for his height and…
The March gain was the biggest monthly increase since August 2009, the Commerce Department reported.
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