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Consumer prices held steady in May, helped by a drop in what drivers paid at the gas pump, the government said Wednesday in a bit of welcome news for the White House worried about inflation’s impact on President Joe Biden’s reelection bid.
The Federal Reserve should cut interest rates this week for the first time since the onset of the COVID-19 pandemic, three Democratic senators said Monday in a letter to its chairman, Jerome Powell.
The latest inflation numbers should give President Joe Biden pause.
The American economy likely delivered another solid hiring gain in April, showing continuing durability in the face of the highest interest rates in two decades.
When Daniel Campos heard that the 99 Cents Only stores were shuttering all 371 locations late last week, a surprising wave of emotions hit him.
WASHINGTON (AP) — America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their payrolls and bolstering hopes that the economy can vanquish inflation without succumbing to a recession in the face of high interest rates.
Sen. Sherrod Brown has a well-deserved reputation as an economic progressive and staunch union ally, whose focus on the “dignity of work” has helped him hold his seat for three terms in the increasingly Republican state of Ohio.
Companies are effectively raising their prices by stealthily charging the same amount of money, or even more, for ever-smaller portions ― and it’s been a big driver of inflation in many products in the past few years, according to a new study by a group of progressive economists.