A frugal couple with nine children who own their home in upstate New York, have zero debt and spend just $ 364 a month, say they’re coping with the nation’s record-high inflation by doing what they’ve always done: not spending money. The Shillito family of Burnt Hill, New York, grow fruits and vegetables in their … Read more
WASHINGTON (AP) – Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of Representatives last month passed on a party-line vote-most Democrats for, all … Read more
WASHINGTON (AP) – Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved higher and far more persistent than he or the Fed’s staff economists … Read more
The job market is still really hot. But concerns about the economy have many people wondering if their jobs are secure enough to survive. In the past week, Tesla said it would lay off 10% of its white-collar workers and there have been layoffs and hiring freezes or slowdowns at Netflix, Carvana and Robinhood, among … Read more
The job market is still really hot. But concerns about the economy have many people wondering if their jobs are secure enough to survive. In the past week, Tesla said it would lay off 10% of its white-collar workers and there have been layoffs and hiring freezes or slowdowns at Netflix, Carvana and Robinhood, among … Read more
WASHINGTON (AP) – Democrats are going to hold onto the House after November’s midterm elections. They will pick up as many as four seats in the Senate, expanding their majority and overcoming internal dissent that has helped stifle their agenda. As the challenges confronting President Joe Biden intensify, his predictions of a rosy political future … Read more
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Facebook Facebook logo Sign up for Facebook to connect with Sarah Silbiger Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy … Read more
The Federal Reserve Bank announced a 75 basis point interest rate hike on Wednesday, a 50 percent greater increase than the central bank had initially signaled it was going to make for June. The move comes after inflation hit a new, 40-year high last week, with consumer prices reaching an 8.6 percent mantel over where … Read more
The Federal Reserve Bank announced a 75-basis point interest rate hike on Wednesday, a 50 percent greater increase than the central bank had initially signaled it was going to make for June. The move comes after inflation hit a new, 40-year high last week, with consumer prices reaching an 8.6 percent mantel over where they … Read more
All of a sudden, Wall Street is hyper-focused on inflation expectations, and an indicator from the University of Michigan with its roots in the 1940s, for clues as to how the Federal Reserve will try to manage the economy and fight inflation that’s running at a more than 40-year high. The Fed can’t do anything … Read more
