Economy

Economy

The Federal Reserve is expected to raise key interest rate again on Wednesday

12:25pm July 26, 2023

The Federal Reserve is expected to raise its benchmark lending rate to the highest level in 22 years after a year of successive hikes aimed at fighting inflation.

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Fees added to bills are costing consumers billions. Now, regulators are cracking down

5:32pm July 25, 2023

by Stacey Vanek Smith

The rise of fees on hotel bills, bank bills, restaurant bills and everywhere else has regulators cracking down. Turns out, they are just inflation in disguise.

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Washington's new tax could be a solution to fund long-term care

5:12pm July 25, 2023

by Eilis O'Neill/KUOW

This month, Washington became the first state to start deducting money from workers' paychecks to fund long-term care benefits. Other states are studying similar solutions.

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UPS drivers had threatened to walk off the job unless the company provided better pay for part-time workers.

Economy

UPS union calls off strike threat after securing pay raises for workers

4:35pm July 25, 2023

by Danielle Kaye

A tentative agreement between UPS and the Teamsters has averted a potential strike at the company. The deal will secure pay raises for part-time workers.

CAMBRIDGE, MASSACHUSETTS - JUNE 29: People walk through the gate on Harvard Yard at the Harvard University campus on June 29, 2023 in Cambridge, Massachusetts.

Affirmative action for rich kids: It's more than just legacy admissions

11:06pm July 24, 2023

by Greg Rosalsky

A blockbuster new study finds that America's elite private colleges are systematically giving huge advantages to rich kids over their equally bright, yet less privileged peers.

1313 L St. in Washington, D.C., was formerly an office building. By the end of this year, it will be home to newly finished apartments.

Turning unused office space into housing could solve 2 problems, but it's tricky

5:22pm July 24, 2023

by Erin Kenney

Turning barely used office space into desperately needed urban housing seems like a win-win in the work-from-home era. But even in cities eager to do this, plenty of obstacles remain.

A row of mailboxes tagged with evacuation notices during the Oak Fire in Mariposa, Calif., in July 2022. Many residents in the area are losing their home insurance because of rising wildfire risk.

How climate change could cause a home insurance meltdown

4:29pm July 24, 2023

It's increasingly expensive and difficult to get home insurance, as losses rise from climate-driven disasters such as wildfires and hurricanes. And the solutions aren't always politically popular.

It wasn't too long ago that a lot of experts were fearing a recession. It hasn't quite turned out that way – but that doesn't mean recession fears are over.

Economy

Up First briefing: State of the economy; a possible Trump indictment; difficult bosses

7:53am July 24, 2023

by Suzanne Nuyen

Another indictment for former President Trump could come soon. A career coach gives advice for workplace conflicts. Economic forecasters are optimistic, but the economy isn't out of the woods yet.

Economy

Could the U.S. still see a recession? A handy primer about the confusing economy

6:01am July 24, 2023

A string of encouraging reports is raising hope about the economy — but worries of a possible recession have not gone away. Here's why.

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In this Oct. 24, 2012 file photo, a pedestrian walks in Greektown in downtown Detroit. A state-appointed review team Tuesday, Feb. 19, 2013 determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis.

10 years ago Detroit filed for bankruptcy. It makes a comeback but there are hurdles

6:00am July 22, 2023

by Quinn Klinefelter

The "Motor City" has made significant progress since it became the largest municipality to file for bankruptcy a decade ago but still faces potholes in its recovery.