ECONOMY

Economy

The Federal Reserve is expected to take a big step to try to lower inflation

7:56am May 04, 2022

The Fed is likely to raise interest rates by a half-percentage point Wednesday, in an effort to crack down on inflation. It's the first rate hike of that size in more than two decades.

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People hold signs while protesting in front of Starbucks on April 14, 2022 in New York City. Activists gathered to protest Starbucks' CEO Howard Schultz anti-unionization efforts and demand the reinstatement of workers fired for trying to unionize.

Starbucks says employees getting new benefits, but not at stores that are unionizing

8:56pm May 03, 2022

by Andrea Hsu

On an investor call, Starbucks interim CEO Howard Schultz said the company was investing $1 billion to raise wages, enhance benefits and modernize stores. But unionized stores won't get some of that.

How palm oil prices are affecting the global economy

6:30am May 03, 2022

by Paddy Hirsch

The prices of cooking oil are rising. Why that could put global security at risk.

Federal Reserve Chair Jerome Powell collects his notebooks as he testifies before the Senate Banking Committee on March 3. The Fed is widely expected to raise interest rates by half a percentage point at its meeting this week.

Economy

4 things to know as the Fed embarks on its biggest fight against inflation in years

5:00am May 03, 2022

by Scott Horsley

The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.

Workers participate in a May Day rally in New York City. Amazon workers recently unionized a facility in Staten Island, emboldening other workers to push for their companies to unionize.

Workers around the world mark May Day with rallies for better working conditions

9:09pm May 01, 2022

by Emma Bowman

From New York City to Turkey, activists and workers seized this International Workers' Day as a moment to push for greater worker protections and changes to immigration policies.

May Day demonstrators march through downtown Los Angeles last year. Thousands of people took to the streets across the nation that May 1 in rallies calling for immigration reform, workers' rights and police accountability.

What is May Day? For the most part, the opposite of capitalism

9:44am April 30, 2022

by Emma Bowman

What springs to mind when you hear May Day? In the U.S. and abroad, the day has grown to encompass a spectrum of meanings. But the themes have remained the same: worker unity, suppression and rebirth.

Economy

The price to grow food is soaring with inflation

8:00am April 30, 2022

by Alice Fordham

Chile pepper and pecan farmers in New Mexico struggle as the price of fuel and fertilizer rise faster than what they can get for their crops. That could lead even more people to leave rural areas.

An electric vehicle gets its battery recharged at a charge station in San Francisco on March 9. The Biden administration is spending $5 billion to build a network of chargers in a bid to get more people to buy electric cars.

Economy

How the U.S. wants to make charging electric cars (almost) as painless as pumping gas

5:00am April 30, 2022

by Brittany Cronin

The U.S. has an ambitious plan to build tons of chargers in order to make charging an electric car closer to the speed and ease of pumping gas.

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on April 28. Stocks sank on Friday, ending a miserable month for Wall Street.

Economy

Here are 3 reasons why stocks are tanking

6:57pm April 29, 2022

by David Gura

Stocks were pummeled on Friday with the Nasdaq slumping more than 4% to post its worst month since 2008. Why things have gotten so bad in Wall Street.

Consumers spent more than expected in March, which is helping with economic recovery

4:42pm April 29, 2022

by Scott Horsley

Consumer spending grew more than expected in March, continuing to drive the economic recovery. Wages are also climbing, which could feed higher inflation.

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