Jun 15 Federal Reserve attacks inflation with its largest rate hike since 1994 By Chris Rugaber, Associated Press The Federal Reserve intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would… Continue reading
Jun 14 Watch 5:23 News Wrap: FDA advisory panel recommends Moderna's vaccine for children ages 6 to 17 By PBS NewsHour In our news wrap Tuesday, an FDA advisory panel voted to recommend that the CDC approve Moderna's vaccine for kids 6 to 17 years old, the Labor Department says wholesale prices were up 10.8 percent from a year ago, the… Continue watching
Jun 14 WATCH: President Joe Biden encourages unions at AFL-CIO convention By Darlene Superville, Josh Boak, Associated Press President Joe Biden has told the largest federation of labor unions that he's rebuilding the U.S. economy around workers. Continue reading
Jun 13 Watch 6:02 Markets plunge amid fears of sharply higher interest rates Wall Street has gone into meltdown mode over inflation fears and the possibility that higher interest rates are imminent. The Dow Jones Industrial Average, NASDAQ and the S&P 500 all fell significantly. It is now officially a bear market, down… Continue watching
Jun 11 Nationwide average for gasoline tops $5 per gallon, AAA says By Associated Press Auto club AAA said the average price on Saturday was $5.00. Motorists in some parts of the country, especially California, are paying far above that. Continue reading
Jun 10 Watch 5:01 Inflation rises faster than expected, pinching pocketbooks and spooking the markets New inflation numbers out Friday show the nation's economic pain has not peaked, and is still getting worse. The U.S. Labor Department reports consumer prices rose 8.6 percent in May from a year ago, marking the biggest increase in more… Continue watching
Jun 10 Stocks tumble after inflation worsens, raising rate fears By Stan Choe, Damian J. Troise, Associated Press Stocks fell sharply on Friday following Wall Street's cold realization that inflation got worse last month, not better, as investors had been hoping. Continue reading
Jun 10 Inflation, pandemic has small businesses on edge this summer By Mae Anderson, Associated Press Consumers likely have a lot of pent-up demand after more than two years of the pandemic. But they’re also facing some significant financial headwinds because of the highest inflation in decades. And COVID-19 remains a looming presence. Continue reading
Jun 10 WATCH: Biden vows to battle inflation as prices continue climbing By Chris Megerian, Josh Boak, Associated Press In President Joe Biden's estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. But so far, inflation just keeps getting the better of the U.S. economy and of the Biden administration. Continue reading
Jun 10 Cost of necessities rose in May, leaving U.S. with new 40-year high in inflation By Christopher Rugaber, Associated Press The costs of gas, food and other necessities jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Continue reading