The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year and increased 0.1 percent from the previous month, the Bureau of Labor Statistics revealed on Tuesday.
It was smiles all around as the familiar Wall Street ritual—the ringing of the closing bell—played out again at the New York Stock Exchange on Aug. 10.
Estimates vary widely on how much President Joe Biden’s $10,000-20,000 per borrower cancellation of student loans will cost taxpayers, but a new analysis estimates the significant cost of a less-covered aspect of Biden’s plan.
The U.S. economy had far more vacant jobs at the end of July than economists expected, indicating that the Federal Reserve’s interest rate increases have not yet cooled the labor market.
Even as the people of Germany struggle with a serious cost of living crisis, they are being told by a Green Party minister that there should be a new tax on meat.
Fears of an impending recession once again escalated Friday after Federal Reserve Chair Jerome Powell warned economic growth will suffer as the central bank works to ease decades-high inflation