Fed hikes interest rate by 0.75 percentage points in bid to curb inflation
The Federal Reserve raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
The Federal Reserve raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation.
President Biden weighs extending student loan payment pause beyond August 31
The White House said that President Biden is deliberating whether to extend the pause on federal student loan payments beyond Aug. 31 and forgive a portion of student debt per borrower.
The White House said that President Biden is deliberating whether to extend the pause on federal student loan payments beyond Aug. 31 and forgive a portion of student debt per borrower.
US new home sales drop to lowest level in 2 years
New single-family home purchases tumbled 8.1% to a seasonally adjusted annual rate of 590,000 units, the lowest level since April 2020.
New single-family home purchases tumbled 8.1% to a seasonally adjusted annual rate of 590,000 units, the lowest level since April 2020.
Restaurants reportedly skimping on wine pours amid high inflation, supply chain issues
Inflation and supply chain shortages continue to impact every industry, from food to fuel, and now fun.
Inflation and supply chain shortages continue to impact every industry, from food to fuel, and now fun.
Fed set to impose another big rate hike to fight inflation
Federal Reserve Chairman Jerome Powell Wednesday will address the Fed's plans to raise interest rates until inflation falls, even if it possibly slows economic growth.
Federal Reserve Chairman Jerome Powell Wednesday will address the Fed's plans to raise interest rates until inflation falls, even if it possibly slows economic growth.
These states had the biggest share of sellers dropping home prices
In one city, home prices are down more than 60%.
In one city, home prices are down more than 60%.
Used cars costing consumers $10,000 more than 'normal' as inflation rages
It's a bad time for consumers looking to buy a used car.
It's a bad time for consumers looking to buy a used car.
Nearly half of Americans will take on debt this year despite higher borrowing costs: survey
Even with the Federal Reserve expected to raise borrowing rates again next week, adding debt is “not necessarily a bad sign," analysts say.
Even with the Federal Reserve expected to raise borrowing rates again next week, adding debt is “not necessarily a bad sign," analysts say.
Shrinkflation: Small portions offered at restaurants causes rise in Yelp complaints, report finds
Customers in their reviews complained about shrinkflation at restaurants serving popular menu items like hot dogs, hamburgers, and pizza.
Customers in their reviews complained about shrinkflation at restaurants serving popular menu items like hot dogs, hamburgers, and pizza.
This week in Texas politics: Democratic convention, surplus and Texas grid anxiety
FOX 7 Austin's Rudy Koski, along with experts, speak on different topics happening in Texas.
FOX 7 Austin's Rudy Koski, along with experts, speak on different topics happening in Texas.
Manchin says no to new taxes, climate action in 'stunning' blow to Dems
Senator Joe Manchin says he’ll oppose an economic measure he’s been negotiating with Democratic leaders if it includes climate change action or higher taxes on the rich or corporations.
Senator Joe Manchin says he’ll oppose an economic measure he’s been negotiating with Democratic leaders if it includes climate change action or higher taxes on the rich or corporations.
Inflation, high energy prices mean the Texas Legislature will have unprecedented funds to allocate next year
The state will have an extra $27 billion in its coffers in 2023 — money that could help pay for property tax cuts and other legislative priorities.
The state will have an extra $27 billion in its coffers in 2023 — money that could help pay for property tax cuts and other legislative priorities.
LEGO raises prices, citing supply chain issues
Though prices are going up, a study published in 2020 found that most LEGO sets appreciate in value by 11% per year.
Though prices are going up, a study published in 2020 found that most LEGO sets appreciate in value by 11% per year.
US inflation reached 9.1% in June, a new 40-year high
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
U.S. consumer prices soared 9.1% compared with a year earlier, the government said Wednesday, the biggest 12-month increase since 1981.
Costco raises prices on food court soft drinks, chicken bake
Wholesale retailer Costco reported June net sales of $22.78B.
Wholesale retailer Costco reported June net sales of $22.78B.
June job growth revealed amid recession fears
The jobs report in June was strong, despite risks of a recession on the horizon. Here's what that means for interest rates.
The jobs report in June was strong, despite risks of a recession on the horizon. Here's what that means for interest rates.
Mortgage rates plummet amid recession fears
Mortgage rates sank this week, but they could soon begin to rise once again.
Mortgage rates sank this week, but they could soon begin to rise once again.
Inflation, expenses rise sharply as priorities for most Americans, poll finds
Most Americans expressed little confidence in Republicans and Democrats to focus on issues important to them or an ability to work together and get things done.
Most Americans expressed little confidence in Republicans and Democrats to focus on issues important to them or an ability to work together and get things done.
US employers add a solid 372,000 jobs in sign of resilience
America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates.
America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates.
'We've done something about it': Biden touts rule which aims to rescue pensions for millions
President Joe Biden has used an Ohio visit to showcase federal action aimed at shoring up pensions for millions of workers.
President Joe Biden has used an Ohio visit to showcase federal action aimed at shoring up pensions for millions of workers.