News
Moneywatch: June inflation report
4+ hour, 39+ min ago (232+ words) A better than expected June inflation report drove Wall Street to all green arrows Tuesday. The Dow gained 9 points. The Nasdaq climbed 233 points. The S and P 500 rose 28 points. Also, United Airlines passengers will soon have the option to pay…...
Warsh says Fed has 'no tolerance' for high inflation but provides no hints on next move
18+ hour, 37+ min ago (55+ words) WKMG Wyden alleges RFK Jr broke the law in calls urging Libertarians to quit Iowa races Mystery bidder buys T. rex nicknamed 'Gus' for a record $50 million Port Canaveral doubles cruise terminal to fit the world's biggest ships...
Dollars & Sense: First we had shrinkflation – now, meet ‘Skimpflation’
1+ day, 5+ hour ago (173+ words) WKMG Dollars & Sense: First we had shrinkflation – now, meet ‘Skimpflation’ Typo? Nope. Today’s Dollars & Sense is focusing on “skimpflation,” the lesser-known sibling of “shrinkflation.” Think of them like the Kardashians: if shrinkflation is Kim, skimpflation is Kourtney. She may not…...
Andreessen, Chetty among leaders of Fed's new task forces evaluating operations
5+ day, 13+ hour ago (527+ words) WASHINGTON – Venture capitalist Marc Andreessen, economist Raj Chetty and former Bank of England governor Mervyn King are among a slate of names released by the Federal Reserve Thursday that will help develop recommended changes to the central bank's operations. They…...
Average 30-year US mortgage rate rises to 6.49%, pushing up homebuyers' borrowing costs
5+ day, 17+ hour ago (455+ words) The average long-term U.S. mortgage rate drew closer this week to 6.5%, pushing up borrowing costs for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate rose to 6.49% from 6.43% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the average…...
US jobless claims dip modestly to 215,000 last week as layoffs remain at historically healthy levels
6+ day, 1+ hour ago (287+ words) WASHINGTON – The number of Americans filing for unemployment benefits dipped slightly last week as layoffs in the U.S. remain historically low. U.S. applications for jobless aid in the week ending July 4 ticked down by 2,000 to 215,000, the Labor Department reported Thursday....
PepsiCo says economic concerns weighed on customers in North American during recent quarter
5+ day, 23+ hour ago (297+ words) NEW YORK – PepsiCo reported stronger than expected revenue in the second quarter despite weaker demand in North America, where it said consumers tightened their budgets due to economic concerns. The food and beverage giant said Thursday that its net revenue…...
Fed minutes: Officials deeply divided over future path of US inflation
6+ day, 16+ hour ago (184+ words) WKMG WASHINGTON – A Federal Reserve rate-setting committee agreed to keep its key rate unchanged at its meeting last month, though most officials were split over whether inflation is likely to stay elevated or whether it will cool once the Iran…...
Trump says Walmart cut prices at his request, but Walmart statement omits administration's role
1+ week, 1+ day ago (394+ words) WASHINGTON – President Donald Trump on Monday sought to take credit for recent price cuts by Walmart, but a statement by the retailer made no mention of the administration's involvement in its decision. The president has faced public backlash over inflation…...
Eye on Consumer: Despite record tourism job growth slowed in June and Fireworks safety
1+ week, 3+ day ago (144+ words) WKMG Eye on Consumer: Despite record tourism job growth slowed in June and Fireworks safety Americans are hitting the road, booking flights and spending big for the Fourth of July -- but the latest jobs report suggests the labor market may…...