inflation

Cocuy was once stigmatized as moonshine, but with hyperinflation putting other drinks out of reach, many Venezuelans have turned to this cheap form of alcohol. It tastes similar to tequila and mezcal.

The country is responding to its currency's alarmingly rapid devaluation with an unlikely solution — by devaluing it further. But many economists are not impressed.

Reporter John Otis reflects on the changes in Venezuela since he first arrived there 19 years ago. The country now confronts triple-digit inflation and its largest bank note is worth less than a dime.

Federal Reserve policymakers said they believe the U.S. economy is growing at a moderate pace, and that any increases this year will be "gradual."

Grocers faced higher wholesale prices for frozen turkeys this year. But because of fierce competition, they still cut their retail prices. Consumers are finding bargains on other holiday foods, too.

The country's massively hyperinflated currency will be phased out beginning next week at a rate of $5 U.S. for every 175 quadrillion Zimbabwean dollars.

With unemployment dropping, the "misery index" is at its lowest level in more than 50 years. So why aren't Americans feeling cheerful? Economists say meager wages and big debts are still problems.