Fed dialing back COVID-19 economic aid amid high inflation
In a statement Wednesday after its latest policy meeting, the Fed said it will start reducing its $120 billion in monthly bond purchases in the coming weeks, by $15 billion a month, though it reserved the right to change that pace.
In a statement Wednesday after its latest policy meeting, the Fed said it will start reducing its $120 billion in monthly bond purchases in the coming weeks, by $15 billion a month, though it reserved the right to change that pace.
US unemployment claims drop to pandemic low of 281,000
U.S. unemployment claims dropped by 10,000 to 281,000, the lowest since mid-March 2020.
U.S. unemployment claims dropped by 10,000 to 281,000, the lowest since mid-March 2020.
Drivers may see some relief at the pump, expert says
National average price for a gallon of regular gasoline is about $3.36
National average price for a gallon of regular gasoline is about $3.36
Thanksgiving dinner may be more expensive as holiday staples in short supply
While most will likely be able to get their hands on a turkey for Thanksgiving this year, shoppers could be shelling out more cash for it as well as other holiday staples — largely due to supply chain bottlenecks.
While most will likely be able to get their hands on a turkey for Thanksgiving this year, shoppers could be shelling out more cash for it as well as other holiday staples — largely due to supply chain bottlenecks.
US Treasury appoints 1st-ever counsel for racial equity
The Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries.
The Treasury Department has hired a former JPMorgan Chase executive to head a new government program aimed at combatting racial inequality issues in banking and other financial-services industries.
Twitter CEO Jack Dorsey's dire warning: 'Hyperinflation' will soon 'change everything'
Twitter CEO Jack Dorsey has issued a warning about hyperinflation, saying it "is going to change everything."
Twitter CEO Jack Dorsey has issued a warning about hyperinflation, saying it "is going to change everything."
Fire on cargo ship off British Columbia coast reported out
Forty shipping containers are adrift in the Pacific Ocean after rough seas knocked them off of a ship just west of the Strait of Juan de Fuca entrance.
Forty shipping containers are adrift in the Pacific Ocean after rough seas knocked them off of a ship just west of the Strait of Juan de Fuca entrance.
Fed sets new limits on policymakers' investments amid questionable trades
The Federal Reserve issued new restrictions on policymakers’ investments in response to questionable recent trades that forced two top officials to resign.
The Federal Reserve issued new restrictions on policymakers’ investments in response to questionable recent trades that forced two top officials to resign.
US unemployment claims fall to 290,000, a new pandemic low
Unemployment claims in the U.S. reached another pandemic low last week, declining to 290,000.
Unemployment claims in the U.S. reached another pandemic low last week, declining to 290,000.
Treasury official claims inflation part of ‘economy in transition,’ only way out is 100% global vaccination
The comments are the latest in confusing, conflicting messaging on inflation from the Biden administration.
The comments are the latest in confusing, conflicting messaging on inflation from the Biden administration.
Climate change: US report targets economic risks from extreme weather
A new White House report addresses how the U.S. economy could be affected by climate change, including extreme heat, flooding, storms and wildfires.
A new White House report addresses how the U.S. economy could be affected by climate change, including extreme heat, flooding, storms and wildfires.
Winter heating bills set to skyrocket as inflation hits home
With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter.
With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter.
US unemployment claims fall to lowest level of COVID-19 pandemic
U.S. unemployment claims dropped 36,000 to 293,000 last week, the lowest level since the start of the pandemic, the Labor Department said.
U.S. unemployment claims dropped 36,000 to 293,000 last week, the lowest level since the start of the pandemic, the Labor Department said.
Port of Los Angeles going 24/7 to ease shipping backlog, White House says
The Port of Los Angeles will become a 24-hour, seven-days-a-week operation to help relieve supply chain bottlenecks and move stranded container ships.
The Port of Los Angeles will become a 24-hour, seven-days-a-week operation to help relieve supply chain bottlenecks and move stranded container ships.
Social Security checks to increase by 5.9% in 2022 as inflation jumps
The Social Security COLA amounts to $92 a month for the average retired worker, according to estimates released by the Social Security Administration.
The Social Security COLA amounts to $92 a month for the average retired worker, according to estimates released by the Social Security Administration.
Social security annual cost-of-living set to increase in 2022
Rising inflation is expected to lead to a sizeable increase in Social Security’s annual cost-of-living adjustment, or COLA, for the year 2022.
Rising inflation is expected to lead to a sizeable increase in Social Security’s annual cost-of-living adjustment, or COLA, for the year 2022.
Debt ceiling: House passes short-term increase, sends to Biden
The House approved a short-term debt ceiling increase so President Joe Biden can sign it into law this week.
The House approved a short-term debt ceiling increase so President Joe Biden can sign it into law this week.
Companies hard-pressed for holiday staff despite millions of job openings
Companies that typically hire thousands of seasonal workers are heading into the holidays during one of the tightest job markets in decades, making it unlikely they’ll find all the workers they need.
Companies that typically hire thousands of seasonal workers are heading into the holidays during one of the tightest job markets in decades, making it unlikely they’ll find all the workers they need.
Americans quit jobs at highest rate on record in August, Labor Department says
One reason America’s employers are having trouble filling jobs was starkly illustrated in a report Tuesday: Americans are quitting in droves.
One reason America’s employers are having trouble filling jobs was starkly illustrated in a report Tuesday: Americans are quitting in droves.
Nobel prize for economics awarded to 3 in US for societal research
The 2021 Nobel prize for economics on Monday was awarded to three U.S-based economists for work on so-called “natural experiments.”
The 2021 Nobel prize for economics on Monday was awarded to three U.S-based economists for work on so-called “natural experiments.”