A worsening surge of inflation for such bedrock necessities as food, rent, autos and heating oil is setting Americans up for a financially difficult Thanksgiving and holiday shopping season.
WASHINGTON — The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end.
The "winter of discontent" that has been sweeping across Europe has now escalated into a "spring of discontent," with strikes and protests set to spread from France, Greece, and other surrounding countries to Germany.
All eyes in the financial and economic world will be laser-focused Wednesday on the Federal Reserve as Chair Jerome Powell tries to balance his fight against inflation against a sudden banking crisis.
Large corporations have fuelled inflation with price increases that go beyond rising costs of raw materials and wages, pushing shopping bills to record highs, according to an analysis of hundreds of company accounts.
British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday.
Billionaire investor Warren Buffett sent out a clear warning to his shareholders as the Fed's inflation measure jumped to 5.4 percent over the last month.
WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year.
Homeless encampments have sprung up inside crime-riddled Chicago's O'Hare International Airport terminal leaving some concerned for their safety as images of people sleeping in filthy makeshift shelters have emerged.
