Jul 15 Watch 10:40 Child tax credit should boost working families, Treasury Secretary Yellen says Critics say monthly child tax credit payments, now available for more than 35 million American families, could discourage people from working, but Treasury Secretary Janet Yellen disagrees. The credit can help parents play for childcare to enable them to work,… Continue watching
Jul 14 Watch 6:30 Supply 'bottlenecks' are driving a consumer price surge. Here's how that affects inflation The Consumer Price Index rose 5.4% last month compared to a year ago — the biggest monthly jump since 2008. During testimony on Capitol Hill Wednesday, Federal Reserve Chairman Jerome Powell gave his assessment about the price surge and risks… Continue watching
Jul 14 WATCH: Fed Chair Powell says inflation, though elevated, will likely moderate By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating."… Continue reading
Jul 13 Watch 6:41 News Wrap: Consumer prices see 5.4% year on year rise, White House says surge temporary In our news wrap Tuesday, the Federal Reserve and White House said they expect a consumer price surge, up 5.4 percent, to be temporary. There's fresh evidence that COVID-19 infections in the U.S. are rising again, mostly among the unvaccinated. Continue watching
Jun 16 Watch 5:08 News Wrap: Federal Reserve projects rate increases in 2023 as economy recovers from COVID In our news wrap Wednesday, the Federal Reserve signaled it may raise a key, short-term interest rate — from near-zero — sooner than planned. The European Union called for lifting travel restrictions on Americans. North Korea's leader Kim Jong-un warned… Continue watching
Feb 10 Powell stresses commitment to full employment and low rates By Christopher Rugaber, Associated Press Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York. Continue reading
Dec 09 Watch 2:15 Remembering former Fed chair and economic giant Paul Volcker By Paul Solman Paul Volcker, who served as chair of the Federal Reserve for two presidents, died Monday. His passing came 40 years after he drove interest rates to record highs in an effort to tame double-digit inflation. Known for his height and… Continue watching
Apr 29 U.S. consumer spending spikes 0.9 percent in March By Martin Crutsinger, Associated Press The March gain was the biggest monthly increase since August 2009, the Commerce Department reported. Continue reading
Mar 08 Why February's weak jobs gains might not tell the whole story By Gretchen Frazee The U.S. economy added 20,000 jobs in February -- a number far below expectations. Unemployment dropped to 3.8 percent. Continue reading
Dec 07 Why slower hiring in November isn't necessarily a bad thing By Gretchen Frazee The U.S. economy added 155,000 jobs in November and the unemployment rate held steady at 3.7 percent. Continue reading