inflation

Analysis: Why any party in power can’t do much about inflation

By William Chittenden, The Conversation

Many voters say inflation is the issue that matters to them most as they head to the polls. The problem is, the people they choose can’t do much about it.

WATCH: Federal Reserve Chair Jerome Powell faces questions after interest rate decision

By Christopher Rugaber, Associated Press

The Federal Reserve pumped up its benchmark interest rate Wednesday by three-quarters of a point for a fourth straight time to fight high inflation but also hinted that it could soon reduce the size of its rate hikes.

Europe sees fastest interest rate hikes since the euro first launched

By David McHugh, Associated Press

The European Central Bank has made another outsized interest rate hike aimed at squelching out-of-control inflation, moving at the fastest pace in the euro currency's history.

U.S. economy snaps contraction streak with 2.6 percent growth last quarter

By Paul Wiseman, Associated Press

The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates.

WATCH: Biden announces push to crack down on ‘junk fees’ amid high inflation

By Ken Sweet, Associated Press

With time running out before the election, President Joe Biden highlighted his administration’s push to crack down on so-called junk fees that banks and other companies charge their customers.

News Wrap: New York City opens temporary housing site for migrants

In our news wrap Wednesday, New York opened a temporary housing site for migrants, competitive rock climber Elnaz Rekabi returned to Iran after competing abroad without a mandatory headscarf and British Prime Minister Liz Truss apologized for causing economic turmoil…

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What is the Strategic Petroleum Reserve?

By David Koenig, Cathy Bussewitz, Associated Press

Tapping the reserve is among the few things a president can do alone to try to control inflation, which makes Americans poorer and often creates a political liability for the party in control of the White House.

U.K. inflation at 10.1 percent, 40-year high as food prices rise

By Danica Kirka, Jill Lawless, Associated Press

British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation's poorest residents.

Industries across France strike in push for pay hikes amid inflation

By Nicolas Garriga, Boubacar Diallo, Associated Press

Rail and other transportation workers, trucking and bus companies, some high school teachers and public hospital employees have heeded a call by an oil workers’ union for French industry to push for salary increases and protest government intervention in the…

British Prime Minister Liz Truss goes from triumph to trouble in six weeks on the job

By Jill Lawless, Associated Press

In just six weeks, the prime minister’s libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief.