Jul 07 Inflation pushed 71 million people into poverty since war in Ukraine began By Aya Batrawy, Associated Press A staggering 71 million more people around the world are experiencing poverty as a result of soaring food and energy prices that climbed in the weeks following Russia's war in Ukraine. Continue reading
Jul 06 Federal Reserve signals further hikes in interest rates to 'restrictive' levels By Christopher Rugaber, Associated Press Federal Reserve officials were concerned at their meeting last month that consumers were starting to anticipate higher inflation, and they signaled that much higher interest rates could be needed to restrain it. Continue reading
Jul 04 Watch 9:16 High gas prices and canceled flights create holiday headaches for Americans After holding off for part of the pandemic, Americans are traveling in big numbers this summer, but it’s turning out to be much more difficult than many expected, whether you’re flying or driving. We asked people to share their experiences… Continue watching
Jul 01 Watch 3:52 Supply chain issues put a damper on July 4 fireworks By Stephanie Sy, Layla Quran Problems with the global supply chain have impacted nearly every sector of the economy. Now Americans preparing to celebrate Independence Day may find increased prices on the fireworks aisle, or their cities canceling fireworks displays altogether. Stephanie Sy has the… Continue watching
Jul 01 Inflation hits record 8.6 percent for 19 countries using the euro By Kelvin Chan, Associated Press Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia's war in Ukraine. Continue reading
Jun 30 Inflation remains at 6.3 percent, Federal Reserve report shows By Paul Wiseman, Associated Press A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Continue reading
Jun 29 'No guarantee' Fed can tame inflation without hurting employment, Powell warns By Paul Wiseman, Associated Press Federal Reserve Chair Jerome Powell said there's "no guarantee" the central bank can tame runaway inflation without hurting the job market. Continue reading
Jun 27 Watch 4:10 News Wrap: Jan. 6 committee to hold surprise hearing with new evidence In our news wrap Monday, the Jan. 6 committee is calling a surprise hearing featuring newly collected evidence, the Supreme Court sided with a high school football coach in Washington state who lead prayers on the field, an Amtrak train… Continue watching
Jun 22 Watch 5:52 Biden asks Congress to suspend the federal gas tax to curb rising prices President Biden is calling on Congress to temporarily suspend the federal gas tax. The president told reporters at an event Wednesday that he knows the proposal isn’t a permanent solution to rising prices at the pump. White House correspondent Laura… Continue watching
Jun 22 Watch 3:22 News Wrap: Fed Chair Powell defends aggressive rate hikes, admits recession is possible In our news wrap Wednesday, Federal Reserve Chair Jerome Powell pledged to raise interest rates enough to douse inflation without sparking a recession, Russian artillery battered Kharkiv in Ukraine's northeast, Sri Lanka's prime minister declared his nation’s economy is in… Continue watching