May 24 Watch 5:14 British pubs struggle to survive as drinkers stay home By Malcolm Brabant A historic bicentennial anniversary is upon us. The humble pint is now 200 years old. That staple measurement of bar life was first introduced in 1824 to placate British drinkers who claimed taverns were cheating them of precious ale. Now… Continue watching
May 23 Average U.S. vehicle age hits record 12.6 years as high prices force people to keep them longer By Tom Krisher, Associated Press A study published Wednesday says U.S. vehicles hit a record average age of 12.6 years in 2024 as people hang on to their rides largely because new ones cost so much. Continue reading
May 17 Watch 4:19 What’s behind the historic stock market highs and how it relates to the overall economy By Geoff Bennett, Diane Lincoln Estes This has been a big week for the stock market. The Dow Jones, the much broader S&P 500 and the NASDAQ all reached record highs with the Dow crossing the 40,000 threshold for the first time. The markets have rallied… Continue watching
May 15 Watch 4:23 Inflation cools but rising prices still dominate Americans’ view of economy By Paul Solman, Diane Lincoln Estes Inflation cooled somewhat in April, according to new numbers from the Bureau of Labor Statistics. The consumer price index rose at an annual rate of 3.4 percent, in line with expectations. But overall, inflation hasn't yet come down quite to… Continue watching
May 15 U.S. inflation ticked down slightly last month in the first drop of 2024 By Christopher Rugaber, Associated Press A measure of underlying inflation, which excludes volatile food and energy costs, also eased in April. Continue reading
May 14 Federal Reserve Chair Powell downplays potential for a rate hike despite higher price pressures By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Continue reading
May 13 Are U.S. interest rates high enough to beat inflation? The Fed will take its time to find out By Christopher Rugaber, Associated Press The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this… Continue reading
May 10 U.S. consumer sentiment drops to 6-month low on inflation, unemployment fears By Christopher Rugaber, Associated Press Consumer sentiment fell sharply in May to the lowest level in six months as Americans cited concerns about stubbornly high inflation and interest rates and fears that unemployment could rise. Continue reading
May 03 U.S. economy adds 175,000 jobs in April but sees a rise in unemployment By Paul Wiseman, Associated Press The nation's employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Continue reading
Apr 26 One measure of inflation reinforces Federal Reserve’s reluctance to cut interest rates By Christopher Rugaber, Associated Press Friday's report from the government showed that prices rose 0.3 percent from February to March, the same as in the previous month. Continue reading