Economy

Economy

Rising prices are the talk around a lot of kitchen tables these days

5:11am May 11, 2022

The latest consumer prices report is expected to show annual inflation in April was a little lower than the month before — cold comfort to people whose paychecks don't go as far as they used to.

Joseph Charles, owner of Rock City Pizza in Boston, managed to survive the pandemic, only to find his place doing even worse now because of inflation.

Restaurants that survived the pandemic are now threatened by inflation

5:00am May 11, 2022

by Tovia Smith

Higher costs for food, labor, rent, gasoline and cooking gas make it harder for casual dining places to buy, cook and deliver meals. And they're limited in how much they can pass on to customers.

President Biden laid out his plan to tamp down on inflation and rising costs in a speech at the White House Tuesday.

Biden names combating inflation and rising costs as his top domestic priority

9:27pm May 10, 2022

by Deepa Shivaram

In an address from the White House Tuesday, President Biden contrasted his administration's plans to tackle rising costs with what he called Republicans' "ultra-MAGA" plan.

The Senate confirmed economist Cook to serve on the Federal Reserve's board of governors, making her the first Black woman to do so in the institution's 108-year history.

Senate approves Lisa Cook as first Black woman on Federal Reserve board of governors

8:20pm May 10, 2022

by The Associated Press

Cook is only the second of Biden's five nominees for the Fed to win Senate confirmation. His Fed choices have faced an unusual level of partisan opposition.

Biden criticizes 'ultra-MAGA' Republicans as inflation rises

4:45pm May 10, 2022

by Tamara Keith

Ahead of the midterm elections, President Biden is using Donald Trump's "Make America Great Again" as a label to paint the GOP as extreme on issues including the economy and abortion rights.

A gas pump is seen in a station on Feb. 1 in Houston. Gasoline prices hit a new national record, not adjusted for inflation, surpassing the previous peak set around two months ago.

Economy

Gasoline prices hit a record high, again

8:40am May 10, 2022

by Brittany Cronin

Gas prices surged to a national record, not adjusted for inflation, surpassing the previous milestone hit around two months ago. It comes just ahead of the key summer driving season.

The Work-From-Home climate challenge

6:30am May 10, 2022

by Paddy Hirsch

Companies might have thought a silver lining from the pandemic was that remote work was slashing emissions. They're thinking again.

Traders work on the floor of the New York Stock Exchange in New York City on Friday. Stocks slumped again on Monday as fears about inflation are proving hard to tamp down.

Economy

A brutal sell-off on Wall Street continues as stocks sink for a 3rd day in a row

6:40pm May 09, 2022

by David Gura

Stocks continue to slump on fears about inflation – and whether the Federal Reserve can bring down prices without sparking a recession.

Some rural schools are dipping into savings to keep up with inflation

4:41pm May 09, 2022

by Kendall Crawford

The rising cost of fuel, energy and food are straining rural school districts' already tight budgets. Many districts fear what continued inflation could mean for programming, upkeep and even staffing.

Economy

This week in economics

5:49pm May 07, 2022

by Scott Horsley

The Federal Reserve raised interest rates this week, in an effort to tamp down inflation. The Fed is worried in part about the tight job market, which saw another strong month of job growth in April.

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