Feb 25 Key inflation gauge hit 6.1 percent in January, highest since 1982 By Christopher Rugaber, Associated Press An inflation gauge that is closely monitored by the Federal Reserve jumped 6.1 percent in January compared with a year ago, the latest evidence that Americans are enduring sharp price increases that will likely worsen after Russia's invasion of Ukraine. Continue reading
Feb 24 Here's how Russia's invasion of Ukraine could worsen everyday costs in the U.S. By William Hauk, The Conversation Americans may be tempted to view the war in Ukraine as an unfortunate, but far away, crisis. But how much worse inflation could get will depend in part on how far Putin goes, and the severity of sanctions. Continue reading
Feb 22 WATCH: Biden announces $35 million investment to help supply chain resiliency By Associated Press Biden announced a $35 million investment in the domestic production of minerals and materials that are needed to create a wide range of technological devices, including computers, batteries, smartphones, vehicles and home appliances. Continue reading
Feb 14 Biden's inflation plan offers long-term solutions, but faces voters demanding action now By Josh Boak, Associated Press President Joe Biden came into office with a plan to fix inflation but not the particular inflationary problem that the country now faces. Continue reading
Feb 13 Watch 4:33 Why gas prices could remain high for some time By Hari Sreenivasan Inflation in the U.S. has jumped at its fastest rate in 40 years, the Labor Department announced last week. Costs of food and fuel have been rising – and while there may be fluctuations in prices, gasoline prices are expected… Continue watching
Feb 10 Inflation hits 40 year high, reinforcing Fed's decision to raise interest rates By Christopher Rugaber, Associated Press Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy. Continue reading
Feb 10 WATCH: Biden puts focus on lowering drug prices in fight against inflation By Chris Megerian, Josh Boak, Associated Press Unable to tame inflation that has worsened sharply under his watch, President Joe Biden stressed Thursday that his administration’s policies would cut prescription drug prices and make life more affordable for families. Continue reading
Jan 28 A key inflation gauge rose 5.8 percent in 2021, most in 39 years By Associated Press At the same time, incomes rose 0.3% last month, providing fuel for future spending. Continue reading
Jan 24 WATCH: Biden gives remarks on efforts to lower prices for working families. By Associated Press President Joe Biden told members of his administration that the lack of competition in U.S. industries costs the median American family household up to $5,000 annually. Continue reading
Jan 24 Federal Reserve expected to raise interest rates in fight against inflation By Christopher Rugaber, Associated Press With inflation punishing consumers and threatening the economy, the Federal Reserve will likely signal its intent this week to begin raising interest rates in March for the first time in three years. Continue reading