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
Jun 07 Watch 4:57 News Wrap: Treasury Secretary Janet Yellen says inflation will remain high In our news wrap Tuesday, Treasury Secretary Janet Yellen told the Senate Finance Committee inflation will remain high, the Department of Homeland Security warns of potential new threats from domestic extremists, the World Bank lowered its economic outlook, Russia says… Continue watching
Jun 07 WATCH: Treasury Secretary Yellen testifies on President Biden's budget in Senate hearing By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen has acknowledged that she and Federal Reserve Chair Jerome Powell "could have used a better word" than transitory when describing the expected run of inflation in the U.S. economy. Continue reading
Jun 04 Watch 6:24 Americans struggle with the high cost of living amid record inflation By Winston Wilde It's clear that the realities many Americans face are vastly different from some of the economic indicators on paper. The burden of record-high inflation has continued to push the limits for people across the country. We hear from people who… Continue watching
Jun 03 Watch 5:07 New Wrap: Federal grand jury indicts Trump adviser Peter Navarro for contempt of Congress In our news wrap Friday, a federal grand jury indicted former Trump adviser Peter Navarro for contempt of Congress, the school police commander in Uvalde, Texas, reportedly did not have a radio following the mass shooting, a congressional committee will… Continue watching