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A Bear Market May be on the Horizon. Here’s What That Means
Economy
A Bear Market May be on the Horizon. Here’s What That Means

NEW YORK (AP) — The bears are rumbling toward Wall Street. The stock market’s skid this year has pulled the S&P 500 close to what’s known as a bear market. Rising interest rates, high inflation, the war in Ukraine and... Read More

California Fights Inflation With Relief Package, Minimum Wage Bump 
In The States
California Fights Inflation With Relief Package, Minimum Wage Bump 
2022-05-17 16:51:23
by Reece Nations

SACRAMENTO, Calif. — Californians are getting help addressing the costs of rising inflation through a higher minimum wage and a new relief package proposal from Gov. Gavin Newsom. California's minimum wage will rise to $15.50 per hour next year under... Read More

Biden Administration Taking Steps to Lower Farming, Food Costs
Agriculture
Biden Administration Taking Steps to Lower Farming, Food Costs
2022-05-11 19:40:00
by Reece Nations

KANKAKEE, Ill. — President Joe Biden is blaming Russia’s invasion of Ukraine for supply chain disruptions that are causing yield-impairing fertilizer shortages and driving up food prices. The war’s repercussions have sent international food prices to record highs, according to... Read More

US Added 428,000 Jobs in April Despite Surging Inflation
Employment
US Added 428,000 Jobs in April Despite Surging Inflation

WASHINGTON (AP) — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. Friday’s jobs report from the Labor... Read More

US, World Markets Retreat After Powell’s Hawkish Rate Stance
Wall Street
US, World Markets Retreat After Powell's Hawkish Rate Stance

NEW YORK (AP) — Wall Street was pointed toward losses before markets opened on Friday, following global shares lower after Federal Reserve Chair Jerome Powell indicated aggressive increases in interest rates were needed to fight inflation. The futures for the Dow industrials... Read More

U.S. Interior Dept. Allows Oil and Gas Leases in Policy Reversal
Energy
U.S. Interior Dept. Allows Oil and Gas Leases in Policy Reversal
2022-04-18 17:21:26
by Tom Ramstack

WASHINGTON — The Biden administration plans to auction oil and gas leases this week in a policy reversal intended to bring down the price of fuel for consumers. The leases would open 144,000 acres to corporate oil and gas extraction,... Read More

US Added 431,000 Jobs in March in Sign of Economic Health
Employment
US Added 431,000 Jobs in March in Sign of Economic Health

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia's war against Ukraine and the highest inflation in 40 years. The government’s... Read More

US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come
Economy
US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product —... Read More

AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise
Economy
AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise

WASHINGTON (AP) — A majority of Americans say they don't blame President Joe Biden for high gasoline prices, but they're giving his economic leadership low marks amid fears of inflation and deep pessimism about economic conditions. About 7 in 10... Read More

Fed Begins Inflation Fight With Key Rate Hike, More to Come
Federal Reserve
Fed Begins Inflation Fight With Key Rate Hike, More to Come

WASHINGTON (AP) — The Federal Reserve launched a high-risk effort Wednesday to tame the worst inflation since the early 1980s, raising its benchmark short-term interest rate and signaling up to six additional rate hikes this year. The Fed's quarter-point hike... Read More

World Shares Mixed, Oil Down $5.50 Per Barrel
Wall Street
World Shares Mixed, Oil Down $5.50 Per Barrel

BANGKOK (AP) — Shares rose in Europe after a mixed session in Asia on Monday, where Hong Kong’s Hang Seng index sank 5% after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak... Read More

Stocks Fall on Wall Street as US Oil Price Briefly Hits $130
Wall Street
Stocks Fall on Wall Street as US Oil Price Briefly Hits $130

NEW YORK (AP) — Stocks are falling in morning trading on Wall Street, as more gains for oil prices threaten to worsen the world's already high inflation. The S&P 500 sank 1.5% after a barrel of U.S. oil leaped as... Read More

US Added 678,000 Jobs in February in Sign of Economic Health
Employment
US Added 678,000 Jobs in February in Sign of Economic Health

WASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.... Read More

Fewer Americans Applied for Jobless Benefits Last Week
Economy
Fewer Americans Applied for Jobless Benefits Last Week

WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week reflecting a low number of layoffs across the economy. Jobless claims fell by 18,000 to 215,000 for the week ending February 26, from 233,000 the previous week, the Labor... Read More

Rents Reach ‘Insane’ Levels Across US with No End in Sight
Housing
Rents Reach 'Insane' Levels Across US with No End in Sight

Krystal Guerra's Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space. But Guerra was fine with the apartment's shortcomings. It was all part of being a 32-year-old graduate student in South Florida,... Read More

Weekly US Jobless Claims up, But Remain Historically Low
Employment
Weekly US Jobless Claims up, But Remain Historically Low

WASHINGTON (AP) — Applications for U.S. unemployment benefits rose last week but remain near historically low levels, reflecting relatively few layoffs across the economy. Jobless claims rose by 23,000 to 248,000 for the week ending Feb. 12, the Labor Department... Read More

<strong>Biden Travels to Virginia to Talk Health Care</strong>
Prescription Drugs
Biden Travels to Virginia to Talk Health Care
2022-02-10 20:17:35
by Alexa Hornbeck

CULPEPER COUNTY, Va. — President Joe Biden traveled to Culpeper County, Virginia, Thursday delivering remarks intended to revive provisions of his now moribund Build Back Better agenda related to lowering health care costs and, particularly, prescription drug prices. Mindful of... Read More

Stocks Slip, Yields Soar on Hottest Inflation in 40 Years
Wall Street
Stocks Slip, Yields Soar on Hottest Inflation in 40 Years

NEW YORK (AP) — With inflation going only higher, stocks are slipping on Wall Street Thursday as expectations build that the Federal Reserve will have to get more aggressive about removing the tremendous support it’s given the economy. The hottest... Read More

A Key Inflation Gauge Rose 5.8% in 2021, Most in 39 Years
Economy
A Key Inflation Gauge Rose 5.8% in 2021, Most in 39 Years

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982, as brisk consumer spending collided with snarled supply chains to raise the costs of food, furniture,... Read More

US Economy Grew 5.7% in 2021 in Rebound From 2020 Recession
Economy
US Economy Grew 5.7% in 2021 in Rebound From 2020 Recession

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and... Read More

Biden Defends Record, Vows to Get Out and Talk to Americans Face to Face
White House
Biden Defends Record, Vows to Get Out and Talk to Americans Face to Face
2022-01-20 17:09:13
by Dan McCue

WASHINGTON — President Joe Biden’s second solo press conference since taking office turned into a marathon lasting one hour and 45 minutes on Wednesday as he was repeatedly pressed to defend his first year in office and lay out a... Read More

Biden Chooses Three for Fed Board, Including First Black Woman
Federal Reserve
Biden Chooses Three for Fed Board, Including First Black Woman

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

US Inflation Soared 7% in Past Year, the Most Since 1982
Economy
US Inflation Soared 7% in Past Year, the Most Since 1982

WASHINGTON (AP) — Inflation jumped in December at its fastest year-over-year pace in nearly four decades, surging 7% and raising costs for consumers, offsetting recent wage gains and heightening pressure on President Joe Biden and the Federal Reserve to address... Read More

Tighter Credit, More Expensive Borrowing Could Be In The Offing With Fed Shift
Federal Reserve
Tighter Credit, More Expensive Borrowing Could Be In The Offing With Fed Shift
2021-12-15 22:37:47
by Dan McCue

WASHINGTON — In a dramatic change of policy, the Federal Reserve said Wednesday that it will accelerate its withdrawal from propping up the economy and likely will raise interest rates at least three times in 2022. As recently as September,... Read More

Holiday Sales Could Be Higher Than Expected Despite Supply Chain, Inflation Woes
Economy
Holiday Sales Could Be Higher Than Expected Despite Supply Chain, Inflation Woes
2021-12-03 20:08:46
by Reece Nations

WASHINGTON — Holiday shopping appears to be on track to beat out the National Retail Federation’s spending forecast in spite of continued supply chain impediments, rising inflation and the omicron variant. Holiday retail sales for November and December are now... Read More

Biden Suspects Oil Companies Are Illegally Jacking Up Prices At The Pump
Economy
Biden Suspects Oil Companies Are Illegally Jacking Up Prices At The Pump
2021-11-17 16:07:15
by Dan McCue

WASHINGTON — President Biden asked the Federal Trade Commission on Wednesday to investigate if oil companies are illegally driving up gas prices. In a letter to FTC Chair Lina Khan, the president says there is “mounting evidence of anti-consumer behavior... Read More

US Wholesale Prices Rose Record 8.6% Over 12 Months
Economy
US Wholesale Prices Rose Record 8.6% Over 12 Months

WASHINGTON (AP) — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported Thursday that the monthly increase in its... Read More

U.S. Produce Prices Up 8.3% in August From a Year Earlier
Economy
U.S. Produce Prices Up 8.3% in August From a Year Earlier

WASHINGTON (AP) — Inflation at the wholesale level climbed 8.3% last month from August 2020, the biggest annual gain since the Labor Department started calculating the 12-month number in 2010. The Labor Department reported Friday that its producer price index... Read More

Experts Unsure Whether Stimulus Causing Inflation
Economy
Experts Unsure Whether Stimulus Causing Inflation
2021-07-02 18:47:08
by Kate Michael

WASHINGTON — If it seems like prices are going up for things like gas, groceries, vehicles, and houses, they are. The Consumer Price Index has risen by an average of 0.7% per month over the last three months, is now... Read More

Republicans Point to Inflation in Bid to Retake Congress
2022 Elections
Republicans Point to Inflation in Bid to Retake Congress

WASHINGTON (AP) — Gas prices have whizzed past $3 per gallon in much of the nation. The cost of used cars and new furniture, airline tickets, department store blouses, ground beef and a Chipotle burrito are on the rise, too. ... Read More

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