Nov 10 WATCH: Biden says infrastructure bill will ease economy woes with time By Josh Boak, Colleen Long, Associated Press President Joe Biden touted his $1 trillion infrastructure plan Wednesday as an eventual fix for the nation's inflation and supply chain woes -- if Americans just have the patience to wait for the construction to begin. Continue reading
Nov 10 U.S. consumer prices spiked 6.2 percent in past year, highest inflation rate since 1990 By Christopher Rugaber, Associated Press Driving the price spikes are persistent supply shortages resulting from robust consumer demand and COVID-related factory shutdowns coming out of the pandemic recession. Continue reading
Oct 26 WATCH: McConnell blames Democrats for rising inflation By Associated Press McConnell said Democrats who attempt to compare Biden's social spending plan to the New Deal are wrong, arguing that former President Franklin Roosevelt had "massive majorities."… Continue reading
Oct 13 Heating bills set to soar as inflation hits energy prices By Associated Press The sharpest increases are likely for homes that use propane, but others are also likely to see big increases. Continue reading
Oct 13 Social Security COLA largest in decades as inflation jumps By Ricardo Alonso-Zaldivar, The Associated Press, Christopher Rugaber, Associated Press Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. Continue reading
Sep 29 WATCH: Federal Reserve Chair defends Federal policies, says inflation may persist By Christopher Rugaber, Associated Press At a panel sponsored by the European Central Bank on Wednesday Powell said the Fed has avoided the mistake of underestimating the severity of pandemic's economic impact. But criticism of the Fed's policies has grown in recent months as inflation… Continue reading
Aug 12 Back-to-back price hikes, wholesale costs up 1 percent in July By Martin Crutsinger, Associated Press Over the past 12 months, prices at the wholesale level are up a record 7.8 percent, surpassing the old record of a 7.3 percent gain set for the 12 months ending in June. Continue reading
Jul 21 Used car prices slip from dizzy heights, signaling small victory for economy By Tom Krisher, Mike Householder, Associated Press Used car prices had rocketed more than 40% since before the coronavirus pandemic began — to an average of nearly $25,000. Now, the seemingly endless streak of skyrocketing used vehicle prices appears to be coming to a close. Continue reading
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