News
Criminal investigation raises key question: Whether Chair Powell leaves Fed in May
2+ hour, 13+ min ago (813+ words) Powell's term as Fed chair finishes on May 15, but because of the central bank's complex structure, he has a separate term as one of seven members of its governing board that lasts until Jan. 31, 2028. Historically, nearly all Fed chairs have…...
US drivers are seeing lower gas prices this holiday season
3+ week, 4+ day ago (401+ words) This holiday season, many U.S. drivers are getting the gift of lower gas prices. According to data from motor club AAA, December has been the cheapest month for prices at the pump this year. The national average for unleaded gasoline has…...
Workers turn to ‘polyworking’ to combat frozen salaries and inflation
2+ mon, 2+ day ago (1007+ words) Take Katelyn Cusick, 29. She beautifies displays as a visual merchandiser for Patagonia at her full-time job. Then she works a side gig managing social media influencers for a German shoe brand for 10 to 15 hours per week. She also has an…...
US inflation stays elevated but prices rose less than feared last month
2+ mon, 3+ week ago (809+ words) Consumer prices increased 3% in September from a year earlier, the Labor Department said Friday, the highest since January and up from 2.9% in August. Excluding the volatile food and energy categories, core prices also rose 3%, down from 3.1% in the previous month....
Nobel economics prize goes to three researchers for explaining innovation-driven economic growth
3+ mon, 4+ day ago (653+ words) Anders Wiklund/TT News Agency via AP Professor John Hassler, from left, Hans Ellegren, Permanent Secretary of the Academy of Sciences and Professor Kerstin Enflo, announce Joel Mokyr, Philippe Aghion and Peter Howitt as the recipients of the Nobel Memorial…...
Trump eyes heavy tariffs on meds, cabinets, furniture and heavy trucks
3+ mon, 3+ week ago (809+ words) The posts on his social media site showed that Trump's devotion to tariffs did not end with the trade frameworks and import taxes that were launched in August, a reflection of the president's confidence that taxes will help to reduce…...
How the Fed’s rate cut impacts mortgage rates
3+ mon, 4+ week ago (1110+ words) As expected, the central bank delivered a quarter-point cut Wednesday and projected it would lower its benchmark rate twice more this year, reflecting growing concern over the U.S. job market. Here's a look at factors that determine mortgage rates and what…...
US household income rose slightly last year, roughly matching 2019 level
4+ mon, 1+ week ago (527+ words) Median household income, adjusted for inflation, in 2024 was $83,730, the Census Bureau said, a 1.3% increase from the previous year's level of $82,690. The median is the midpoint between the highest- and lowest-income households, and helps filter out the impact of very high…...
Tariffs as the new tax base: A laughable idea
4+ mon, 3+ week ago (543+ words) After more deadlines and deals, another round of President Donald Trump's tariffs has arrived. With higher prices again needing to be justified " and on the heels of the "Big Beautiful Bill," which didn't exactly balance the budget " protectionists are positioned…...
Trump defends the US economy with charts after job reports showed warning signs
5+ mon, 1+ week ago (552+ words) Joining Trump to talk about the economy was Stephen Moore, a senior visiting fellow in economics at the Heritage Foundation, a conservative think tank, and the co-author of the 2018 book "Trumponomics." Flipping through a series of charts on an easel,…...