Scott Horsley
Stories
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Business
The Fed continues raising interest rates to fight inflation
Federal Reserve Chairman Jerome Powell spoke about the economy and job market Wednesday. The Fed has been raising interest rates to fight inflation, but critics say this could push some out of work.
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Business
Inflation cools in October and stocks rally on signs the pain of high prices may ease
Consumer prices in October were up 7.7% from a year ago. That's a slower pace of inflation than September's rate of 8.2%. And price hikes between September and October were smaller than expected.
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Politics
Inflation is top issue in this week's midterms
Rising prices are a top concern for voters in this year's midterm elections, outpacing abortion, crime and defending democracy. Prices in September were up 8.2% from a year ago.
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Politics
U.S. factories emerge as a strong point in a weakening economy
Factories have added 467,000 jobs in the last 12 months, as production jumped to its highest level since 2008. But manufacturing remains a much smaller slice of the U.S. economy than it used to be.
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Business
Inflation in September was 8.2%. That means retirees will get an 8.7% raise next year
Retirees and others who rely on Social Security will see a large boost in benefits next year. The average benefit will increase by $141 per month, to keep pace with high inflation.
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Politics
Memories of the 1970s haunt the Fed, pushing its aggressive rate moves
The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.
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Politics
Soaring electricity bills are the latest inflation flashpoint
Inflation eased slightly in August thanks to falling gasoline prices, but the cost of many essentials continues to climb, including soaring power bills that are straining family budgets.
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Politics
The economy added 315,000 jobs, showcasing a labor market that is still strong
U.S. employers added 315,000 jobs in August, while the unemployment rate rose to 3.7% from 3.5% in July. A tight job market gives workers more bargaining power, but it may also fuel inflation.
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Education
Is it fair to forgive student loans? Examining 3 of the arguments of a heated debate
President Biden's plan to forgive hundreds of billions of dollars in student debt will help millions – but it's also raising concerns about inflation, economic fairness and college tuition costs.
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National
Interest rates will rise until inflation is under control, Fed chair Powell says
Federal Reserve chairman Jerome Powell pledged that he and his colleagues will keep raising interest rates until they're confident that inflation is under control.