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News
The ‘rockets and feathers’ effect: Inflation eases but grocery bills do not
2+ hour, 52+ min ago (780+ words) Economics has a term for what U.S. grocery prices have done in recent years: rockets and feathers. Rockets, because the cost of food eaten at home zoomed up in the aftermath of the pandemic. Feathers, because once prices rise, they’re slow…...
Inflation is slashing middle-class incomes. Here’s where it’s worst
2+ hour, 55+ min ago (307+ words) (NEXSTAR) – You probably don’t need the data to tell you that money has gotten a little tighter for most people. Wage growth for many middle-class households isn’t keeping up with inflation, especially with the major spikes in home prices during…...
Social Security: Could a flat-rate COLA help fix the program?
2+ day, 17+ hour ago (614+ words) (NewsNation) — One idea to strengthen Social Security’s finances would give every beneficiary the same annual dollar increase in their monthly checks. A new analysis from the Committee for a Responsible Federal Budget examined how replacing the current cost-of-living adjustment (COLA)…...
US weekly unemployment claims fall to 208,000, fewest in 10 weeks
1+ week, 2+ day ago (266+ words) The number of Americans applying for jobless aid in the week ending July 11 dropped by 8,000 to 208,000, the Labor Department reported Thursday. That’s well below the 219,000 new applications forecast by analysts surveyed by the data firm FactSet. Weekly filings for unemployment…...
America In Focus: Fed officials divided on US inflation views; US home prices hit all-time high
2+ week, 11+ hour ago (816+ words) The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs…...
Fed minutes: Officials deeply divided over future path of US inflation
2+ week, 3+ day ago (488+ words) In the first set of minutes released under new chair Kevin Warsh, “many” of the Fed’s 19 officials said its key rate would be unchanged from or slightly below its current level of 3.6% by the end of this year. But “many…...
Average 30-year US mortgage rate falls to 6.43%, its lowest level in seven weeks
3+ week, 2+ day ago (462+ words) The average long-term U.S. mortgage rate fell this week to its lowest level since mid-May, easing borrowing costs for prospective homebuyers. The benchmark 30-year fixed rate mortgage rate fell to 6.43% from 6.49% last week, mortgage buyer Freddie Mac said Thursday. One year…...
Federal Reserve Chair Warsh emphasizes political independence, signals focus on inflation
3+ week, 3+ day ago (600+ words) In remarks at a central bank conference in Sintra, Portugal, Warsh said that if businesses or households thought the Fed would accept inflation above 2%, “I guess they’d be disappointed. We’re going to deliver price stability.” The Fed typically combats inflation…...
Bought beef? You have just days to file a claim in $87.5 million settlement | KRQE News 13
3+ week, 5+ day ago (350+ words) (NEXSTAR) — The deadline to claim part of an $87.5 million settlement over beef products sold in more than half the U.S. over a five-year period is coming up this week. Through the agreement, the beef processors could “increase their margins and…...
America In Focus: Key inflation gauge surges to 3-year high, mortgage rate climbs
4+ week, 8+ hour ago (710+ words) The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store or gas station are more painful than they were last year, and rising costs…...