Jul 29 Watch 5:39 Manufacturers use 'shrinkflation' to pass costs on to consumers By Paul Solman, Diane Lincoln Estes With inflation at a 40-year high in the U.S., we are all spending more when we go to the store. But there is another dimension of inflation these days called "shrinkflation." Economics correspondent Paul Solman explains. Continue watching
Jul 28 WATCH: Biden downplays troubling economic report, focuses on measures to tame inflation By Josh Boak, Zeke Miller, Associated Press Republicans say Thursday's report showing the economy shrank for the second consecutive quarter is evidence of a "Biden recession." Biden pointed to near-record-low unemployment and signs of continued business investment in the economy. Continue reading
Jul 28 Watch 9:19 Senate agreement on climate change, health care revives Biden's legislative agenda Senate Democrats are lauding a deal on a spending package to reduce the deficit, lower health care costs, raise corporate taxes and combat climate change. It's a stunning development after more than a year of negotiations had failed to win… Continue watching
Jul 28 Watch 9:02 U.S. economy shrank for the second straight quarter, stoking fears of a recession New data out Thursday shows the U.S. economy shrank for the second straight quarter, raising concerns that the nation might be nearing, if not already in, a recession. The White House pushed back against that idea, pointing to strong job… Continue watching
Jul 28 How to know when a recession has begun By Christopher Rugaber, Associated Press The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended. Continue reading
Jul 28 WATCH: Treasury Secretary Janet Yellen says 'our economy remains resilient' despite recession worries By Associated Press Treasury Secretary Janet Yellen says "our economy remains resilient" despite rising inflation and the worry about a recession. This comes as the U.S. economy shrank from April through June for a second straight quarter. Continue reading
Jul 28 WATCH: White House press secretary Karine Jean-Pierre holds briefing By Associated Press White House press secretary Karine Jean-Pierre held a news briefing on Thursday as Democrats rally around a massive, inflation-fighting package that aims to lower health care costs and tackle climate change. Continue reading
Jul 28 Average U.S. long-term mortgage rates fall slightly to 5.3 percent By Matt Ott, Associated Press Average long-term U.S. mortgage rates retreated this week just as the Federal Reserve announced another big rate hike in its bid to get four-decade high inflation under control. Continue reading
Jul 28 Your guide to Congress's new inflation-fighting package By Lisa Mascaro, Associated Press What started as a $4 trillion effort during President Joe Biden's first months in office to rebuild America's public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package. Continue reading
Jul 28 WATCH: President Biden calls inflation-fighting agreement a 'godsend' for U.S. families By Lisa Mascaro, Alan Fram, Associated Press Schumer rallied Democrats during a closed-door morning meeting and Manchin called the package a “win-win” at his own press briefing. An expansive agreement had eluded them for months. Continue reading