ECONOMY

A new study says on average someone would have to earn $24.90 per hour to rent a modest two-bedroom home on no more than 30% of their pay. That's far more than the federal minimum wage.

Rents Are Out Of Reach For Most Americans Earning Minimum Wage, A Study Says

10:42pm July 14, 2021

by Vanessa Romo

Workers simply don't earn enough money to keep up with skyrocketing rental rates across the country, the National Low Income Housing Coalition found in its latest Out of Reach report.

Fed Chair Powell Says Recent Spike In Prices Is Temporary

4:28pm July 14, 2021

by Scott Horsley

Federal Reserve Chairman Jerome Powell is testifying on the economy before a House panel a day after a key inflation gauge hit a nearly 13-year high.

Economy

The Inflation Rate Is Now The Highest It's Been Since 2008

6:14am July 14, 2021

by Scott Horsley

Federal Reserve Chairman Jerome Powell is the nation's top inflation watchdog. When he testifies before Congress Wednesday, Powell is sure to be asked about the recent spike in consumer prices.

Inflation Is The Highest Its Been In Nearly 13 Years

5:13pm July 13, 2021

by Scott Horsley

Consumer prices jumped in June, with businesses struggling to keep up with demand out of the pandemic. The consumer price index rose 5.4% in the last year, the highest inflation in nearly 13 years.

Apple's massive" spaceship" campus designed to centralize work and foster collaboration in 2017 may have to make way for satellite offices and other remote work.

Why Remote Work Might Not Revolutionize Where We Work

2:48pm July 13, 2021

by Greg Rosalsky

Apple joins the ranks of tech firms freeing many employees from Silicon Valley offices. What this might mean for the geography of the American economy.

Economy

Consumer Prices Surged In June

9:51am July 13, 2021

Consumer prices surged 5.4% in June from a year earlier, the highest in nearly 13 years, the Labor Department said on Tuesday. That was higher than the 5% increase seen in May.

Used Challengers sit in a long line at a Dodge dealership on Jan. 24 in Littleton, Colo. Used car prices may be peaking and that could help reinforce hopes for easing inflation.

Economy

Inflation Is Still High. Used Car Prices Could Help Explain What Happens Next

9:51am July 13, 2021

by Scott Horsley

A surge in prices of used cars was a major driver of inflation again in June, but there are some signs those price hikes may be shifting into reverse.

The Economic Crisis In Lebanon May Be One Of The Worst In The World Since The 1800s

4:25pm July 12, 2021

by Ruth Sherlock

The once-thriving middle class in Beirut, Lebanon, has collapsed amid a historic economic crisis. Banks are freezing withdrawals and pharmacies are running out of medicines.

A photograph of three twenty dollar bills in front of bright, striped background. A prism warps the bottom of the money with glowing streaks in the bottom of the frame.

Economy

7 Life Kit Episodes That Will Bring You Closer To Financial Independence

3:14pm July 10, 2021

by Janet W. Lee

Managing money is a lot easier with a little know-how. Here are seven Life Kit episodes on common but confusing money topics with personal finance and economics experts who are eager to help you out.

What Biden's Latest Executive Order Means For Businesses And Consumers

10:39am July 10, 2021

by Andrea Hsu

President Biden signed a new executive order this week to promote competition in the U.S. economy — we'll take a look at what that means for businesses and consumers.

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