Federal interest rate hikes are here: How will it impact your finances?
Mortgage rates have jumped, home sales have slumped and credit cards and auto loans have gotten pricier. Savings rates are slightly juicier, though.
Fed hikes rate by three-quarters of a point in continued fight against inflation
The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.
Thousands have won South Carolina’s lottery this month; here’s how they did it
Lottery officials said the wins are “unprecedented” but the method is pretty simple.
Existing home sales drop to lowest level since 2020
Sales of previously owned houses fell in August for the seventh consecutive month as rising interest rates pushed potential homebuyers out of the market.
Gap slashes 500 corporate jobs after pandemic, supply chain issues
The job cuts follow years of struggles at the San Francisco-based retailer, which operates stores under its namesake brand as well as Old Navy, Banana Republic and Athleta.
Gallup: More than half of U.S. workers are ‘quiet quitting’
A poll shows that the workplace has gotten worse for younger employees, particularly those under 35 years old.
Here's how much more you'll pay to heat your home this winter
The average cost of heating a household this winter is set to increase by 17.2%, according to a forecast by the National Energy Assistance Directors Association.
EXPLAINER: How the strong U.S. dollar can affect everyone
After rising again Friday, the dollar is near its highest level in more than two decades against a key index measuring six major currencies, including the euro and Japanese yen.
Biden administration moves closer to creating a digital dollar
The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar.
Biden, S. African leader meeting to discuss Ukraine, climate issues, trade
The White House meeting between the two leaders is also an effort for the Biden administration to improve relations with South Africa to handle global issues.
Tentative railway labor deal reached, averting strike, Biden says
The tentative railway labor agreement averted a nationwide strike that could have been devastating to the economy.
Social Security cost-of-living increase could be largest in 40 years, estimate says
For the average retiree who got a monthly check of $1,656 this year, an adjustment of 8.7% would boost the payment by $144.10, according to an advocacy group’s estimate.
Tentative railway labor agreement reached, averting strike, Biden says
President Joe Biden that a tentative railway labor agreement has been reached Thursday morning, averting a potentially devastating strike that could have halted shipments of food and fuel.
Rail strike could hit Atlanta consumers hard
Nearly a third of the nation’s freight moves by rail. That means the stuff you buy like food gasoline and consumer products would go up in price again.
A strike by railroad workers is looming: Here's how it could impact you
Here are some questions people are likely to have about the standoff, along with answers about what it means for the economy.
Union members reject deal 2 days before deadline to avoid massive rail strike
A potential strike could impact shipments of everything from clothes to cars, hurting businesses nationwide as they deal with ongoing supply chain problems. The deadline to avoid a strike is Friday.
Dow falls 1,250 as inflation maintains grip on US economy
Many of the data points within the inflation report were worse than economists expected, including some the Fed pays particular attention to, such as inflation outside of food and energy pri
Inflation falls for 2nd consecutive month on lower gas prices
Inflation has driven up the costs of families’ grocery bills, rents, and utility costs, placing hardships on households and increasing gloom about the economy despite job growth and low unemployment.
Online prices rise in August as food, apparel lead gains
So far in 2022, shoppers have already spent $580 billion online, up 8.9% compared with a year ago.
Massive rail strike could mean more supply chain issues
A possible worker strike would threaten the U.S. economy with an estimated cost of $2 billion per day.