The Federal Reserve hiked its target federal-funds interest rate by a quarter of a percentage point Wednesday, the ninth in a series of hikes that started in March 2022.Read More
Inflation Continues to Outpace Wages, Data Shows
Inflation has outpaced wages for nearly two years, recently released federal data shows.
A closer look at federal wage and pricing data shows workers are making less overall as the price for all kinds of goods and services rise faster than average hourly wages.
The U.S. Bureau of Labor Statistics tracks “real” average hourly earnings, which are wages of Americans with rising inflation taken into account.Read More
Iowa U.S. Senator Chuck Grassley Grills Biden’s Treasury Secretary on Social Security, Inflation During Biden Budget Hearing
U.S. Sen. Chuck Grassley (R-IA) on Thursday grilled Treasury Secretary Janet Yellen on whether she still believes inflation is a positive for Americans and the economy.
During the Senate Finance Committee hearing on President Joe Biden’s $6.9 trillion budget proposal, Grassley also asked Yellen whether her boss has it in him to rise about politics and lead on shoring up a troubled Social Security system headed down the road to insolvency.Read More
Poll: Inflation Has Americans Worried About Covering Expenses After Job Loss
A majority of Americans polled said they couldn’t afford to pay emergency expenses or cover their living expenses for just one month if they lost their primary source of income, according to Bankrate’s latest Annual Emergency Savings Report. The main reason cited is record-high inflation.
The majority surveyed, 68%, said they’re “worried they wouldn’t be able to cover their living expenses for just one month if they lost their primary source of income.”Read More
Fed Hikes Interest Rates to Highest Levels in 15 Years
by John Hugh DeMastri The Federal Reserve raised its target federal-funds interest rate by a quarter percentage point Wednesday, the slowest in a series of eight hikes that began in March 2022. The hike brings the Fed’s target rate to a range between 4.5 percent and 4.75 percent, with…Read More