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.
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.
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.
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.
Entire staff at Indiana fast-food restaurant walks off during shift, leave note for customers explaining why
The entire staff at an Indiana fast-food location walked off the job in protest Saturday night, leaving a note on the drive-thru speaker warning hungry customers they were gone.
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."
Gas prices: Regular unleaded hits $7.59 in California town, report says
The Gorda station is known to have some of the highest prices in the country
Where are the workers? Cutoff of jobless aid does not bring them back
Three months after half the states began ending an extra $300-a-week in unemployment pay, there's been no significant influx of job seekers.
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.
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.
Fourth child tax credit payment goes out this week: What parents need to know
Families began receiving the fourth round of payments from the expanded child tax credit Friday.
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.
Biden signs bill raising nation's debt limit until early December
President Joe Biden has signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster.
Federal student loan payments to resume soon
Payments must resume and interest rates will be reinstalled on student loans on January 31, 2022, despite many borrowers still being in tight financial situations.
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.
Heating bills set to soar this winter as inflation hits energy prices
Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else.
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.
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.
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.
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.