Inflation surges to 9.1% in June, reaching new 40-year high
New numbers show just how hard inflation is hitting U.S. households.
US inflation reached 9.1% in June, a new 40-year high
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
Costco raises prices on food court soft drinks, chicken bake
Wholesale retailer Costco reported June net sales of $22.78B.
Inflation, expenses rise sharply as priorities for most Americans, poll finds
Most Americans expressed little confidence in Republicans and Democrats to focus on issues important to them or an ability to work together and get things done.
US employers add a solid 372,000 jobs in sign of resilience
America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates.
This is how much money you need to make to be happy living in Virginia, survey finds
Can money buy you happiness? According to a new survey from Purdue University and GoBankingRates.com the answer for Virginians is yes, but there is a specific amount you need to make.
'We've done something about it': Biden touts rule which aims to rescue pensions for millions
President Joe Biden has used an Ohio visit to showcase federal action aimed at shoring up pensions for millions of workers.
Fourth of July celebrations will cost more in 2022 thanks to inflation
Americans are forking out over $10 more this year to host their Fourth of July barbecues.
Electric vehicle battery myths v. facts: The debate over ‘green’
As demand for electric vehicles grows, innovation follows and companies are looking at more environmentally friendly options when it comes to the controversial manufacturing of EV batteries.
Federal Reserve Chair Jerome Powell says rate hikes to be decided 'meeting by meeting'
Concerns are growing among some that the Federal Reserve may tighten credit so much that it may cause a potential recession.
American Airlines ending service in three cities due to pilot shortage
American Airlines is ending service in three cities this fall in response to the industry-wide pilot shortage.
Gas prices soar around the world amid Russia-Ukraine war, rebound from COVID-19
Energy prices are a key driver of inflation that is rising worldwide and making the cost of living more expensive.
US Treasury Secretary Janet Yellen says recession is not inevitable
She also discussed Sunday an openness to lowering the federal gas tax to give drivers some relief at the pump.
ON THE HILL: Expert weighs in on inflation, whether the US is headed towards a recession
High inflation and fears of a recession continue to grip the U.S. economy. So to get answers on what is causing the issues and how to fix them, FOX 5's On The Hill program sat down with Wall Street Journal economics editor, Eric Morath.
Wheat and barley shortage: How Russia-Ukraine war triggered a global food crisis
Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% of its sunflower oil and are big suppliers of corn.
100 million Americans carry medical debt with some owing more than $10K, poll finds
Some people say they have medical debt they owe to a relative or friend for a loan they received to pay a medical or dental bill.
Fed raises key interest rate in largest hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades.
Biden tells oil refiners: Produce more gas and diesel, fewer profits
In a draft letter to refiners, Biden said their profits have tripled during a time of war between Russia and Ukraine as Americans struggle with record-high gas prices.
What makes a bear market? Wall Street term explained
Wall Street is back in the claws of a bear market amid worries about inflation and higher interest rates. Here are answers to some common questions about bear markets.
George Mason University poll: Americans expect inflation to get worse
Gas and food prices are already on the rise and most Americans expect inflation to get even worse, according to a recent poll conducted by George Mason University.