Americans feeling the stress from inflation
Ask pretty much anyone how they feel about rising gas and food prices, and they won’t have nice things to say. Fox 9 asked a local financial expert and a local psychologist their best tips to relieve the current financial stress and make their dollars stretch further.
Biden puts focus on workers during Philadelphia visit to AFL-CIO convention
President Joe Biden has told the largest federation of labor unions that he’s rebuilding the U.S. economy around workers.
President Biden addresses economy, inflation at AFL-CIO National Convention in Philadelphia
Keep an eye out for the Presidential Motorcade - President Biden is making his way to the “City of Brotherly Love” Tuesday morning.
What makes a bear market? Wall Street term explained
Wall Street is back in the claws of a bear market amid worries about inflation and higher interest rates. Here are answers to some common questions about bear markets.
Bitcoin, other cryptocurrencies collapse, major crypto lender Celsius Network halts operations
Bitcoin and other cryptocurrencies were collapsing in price Monday, after the major crypto lender Celsius halted all withdrawals citing “extreme market conditions."
Average gas price in US jumped nearly 40 cents in recent weeks
The average price at the pump is nearly $2 higher than it was one year ago.
Gas prices hit $5 nationwide for the first time ever
The national average price has jumped 19 cents in just the past week, and it is up $1.93 from this time last year.
Baby formula shortage: Delta Airlines to fly millions of bottles from UK to US
Pediatricians say baby formulas produced in Europe are roughly equivalent to those in the U.S.
Biden blames pandemic, Putin as high US inflation persists
In President Joe Biden’s estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. But so far, inflation just keeps getting the better of the U.S. economy and of the Biden administration.
Out-of-gas calls on the rise, AAA says
In April alone, AAA received 50,787 calls from stranded drivers.
US inflation hit 8.6% in May, a new 40-year high
Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year surge of 8.3%, the Labor Department said Friday.
Used car prices are going up again
Manheim reports that wholesale prices for used cars increased for the first time in 2022 during May, which suggests retail prices will also rise.
No, you're not imagining it — package sizes are shrinking, here's why
Shrinkflation isn’t new, experts say. But it increases during times of high inflation as companies grapple with high costs for ingredients, packaging, labor, and transportation.
Soaring gas prices pump the brakes on return-to-work efforts
Google employees, contractors protest return-to-work requirement wiping out paycheck with costly commute.
Go-broke dates pushed back for Social Security, Medicare
Social Security retirees got a 5.9% boost in benefits this year, the biggest cost-of-living adjustment in 39 years.
May jobs report: US added 390,000 jobs last month as hiring remained robust
U.S. employers added a healthy 390,000 jobs in May 2022, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and interest rates.
Walmart to create 4,000 jobs with 4 new fulfillment centers
The first of the four new new fulfillment centers will open this summer in Illinois. These centers will provide faster shipping of items to customers.
US gas prices could top $5 a gallon by mid-June, analyst predicts
With gas prices exceeding $4 nationwide, one expert believes there’s a way you can save a few dollars at the pump by changing your driving habits.
EU agrees to ban most Russian oil imports in bid to punish Moscow
In a move unthinkable just months ago, EU leaders agreed to cut around 90% of all Russian oil imports over the next six months.
Inflation zaps US savings rate, a warning sign for some
Consumers haven’t been this worried since the financial crisis of 2008.