Oct 14 Watch 9:09 Why gas prices are so much higher in California and how the state is reacting By William Brangham, Courtney Norris Gas prices in much of the country have dropped substantially this fall. But in California, it’s been just the opposite. Prices there are pushing some residents to the edge, and the record costs are raising concerns about whether price gouging… Continue watching
Oct 14 How inflation spread across different sectors, making it harder to tame By Christopher Rugaber, Associated Press What keeps driving inflation so high? The answer, it seems, is nearly everything. Continue reading
Oct 13 Watch 3:58 Inflation remains stubbornly high despite Federal Reserve’s efforts to stabilize costs By Amna Nawaz The latest inflation numbers are still above 8%, a 40-year high with prices rising for housing, medical care, new cars, air travel and more. It will almost surely mean another significant interest rate hike in a few weeks. Economist Diane… Continue watching
Oct 13 Watch 5:36 Will the bump in Social Security benefits be enough to offset inflation? By Paul Solman, Ryan Connelly Holmes, Karina Cuevas For older Americans and retirees, there was some helpful news to accompany the latest inflation report. Americans taking Social Security will see an 8.7% bump in their benefits. That's starting in January thanks to the 2023 cost of living adjustment,… Continue watching
Oct 13 After rocky morning, stocks mount biggest comeback in years By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press The S&P 500 jumped to a gain of 2.6 percent, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two years. Continue reading
Oct 13 Costs of housing and services accelerated U.S. inflation in September By Christopher Rugaber, Associated Press The jump in inflation last month is a sign that the Fed’s five rate hikes this year have so far done little to cool inflation pressures. Continue reading
Oct 13 Social Security benefits to get historic 8.7 percent boost next year By Fatima Hussein, Associated Press It's welcome news for American retirees and others, but also tempered by the fact that it’s fueled by high inflation that’s raised the cost of everyday living. Continue reading
Oct 12 More Americans feel financially vulnerable, AP-NORC poll finds By Josh Boak, Emily Swanson, Associated Press More U.S. adults are now feeling financially vulnerable amid high inflation. That's a political risk for President Joe Biden and fellow Democrats a month before the midterm elections. Continue reading
Oct 10 Social Security cost-of-living increase will help millions of kids and their caretakers By Fatima Hussein, Associated Press Coupled with a decline in the Medicare Part B premium, the Social Security boost will put more money in the hands of the 70 million Americans who receive benefits, including the growing number of grandparents caring for their grandchildren. Continue reading
Oct 07 Watch 5:35 Jobs report shows economy, employment market cooling as questions of recession remain By Paul Solman, Diane Lincoln Estes The September jobs report shows the economy and employment market cooling but remaining steady. The labor market added 263,000 jobs, but that's down from the first half of the year when roughly 400,000 jobs were created a month. Stocks sank… Continue watching