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Inflation
Inflation eases, but weaker job market raises new concerns
As inflation shows signs of cooling, a weakening labor market is emerging as the next major economic challenge, raising concerns among economists and policymakers. Economists expect the Consumer Price Index (CPI) for July to remain ... more
Inflation still frustrating Americans: Why do consumers not feel change?
Despite signs of economic recovery, many Americans continue to feel the sting of inflation, even as it slows. While the stock market has rebounded and unemployment remains low at 4.3%, consumers are grappling with the ... more
Consumers push back against rising prices: Will this fix inflation in the short-term?
American consumers are increasingly refusing to pay higher prices, a shift that economists say is playing a key role in easing the inflation spike of the past three years. Companies like Amazon, Disney, and Yum ... more
Federal Reserve Poised for First Rate Cut in Four Years
Federal Reserve officials are likely to signal the first interest rate cut in four years on Wednesday, as they near the end of a two-year battle against inflation. This potential shift could reduce borrowing costs ... more
Why is inflation higher in the northeast US?
The Northeast now tops the nation in inflation, with annual rates hitting 3.8% in June, up from 2.5% in January, according to the Labor Department. This shift marks a reversal from recent years when the ... more
US Economy Achieves Rare Growth, Eases Inflation Concerns
The U.S. economy is demonstrating remarkable resilience, achieving a rare feat of strong growth paired with easing inflation. In the second quarter of 2024, the economy expanded at an annualized rate of 2.8%, surpassing expectations ... more
Fed’s Inflation Gauge Drops, Increasing Likelihood of September Rate Cut
The Federal Reserve's preferred inflation measure showed a slight increase in June, reinforcing expectations of a September interest rate cut. The Commerce Department reported Friday that prices rose 0.1% from May to June, with annual ... more
Former fed official: Inflation expected to fall, rates will likely follow suit
Loretta Mester, former Cleveland Fed president, believes inflation is cooling and expects interest rates to drop later this year. Mester, known for her focus on controlling inflation, retired on June 30. Mester, 65, joined the ... more
Inflation worries grow as feds grapple with interest rates
In a pivotal meeting that concluded on Wednesday, Federal Reserve officials faced uncertainties regarding the U.S. inflation trajectory, questioning whether progress had stalled. Despite previously setting a benchmark for potentially lowering interest rates, based on ... more
Inflation crisis: Will you be able to afford basics in 2024?
Inflation's Sticky Situation In a recent Federal Reserve meeting, officials grappled with an inflation rate that's stubbornly staying around 3.2 percent. This persistence sparks concerns about the Fed's ability to bring inflation back to normal ... more
2024 tax refunds see boost: Averaging 5% higher than 2023
In the 2024 tax filing season, Americans are pocketing larger refunds from the Internal Revenue Service (IRS), with the average refund climbing to $3,182, a 5.1% increase over last year's average of $3,028. Despite the ... more
IRS overhaul proposed as Biden takes aim at tax cheats, modernizing operations
In a significant move to enhance the Internal Revenue Service's (IRS) capabilities, President Joe Biden has proposed a $12.3 billion budget for the IRS in fiscal year 2025. This funding level matches the agency's 2023 ... more
Social Security and Medicare cuts could be coming: What would prompt it?
In a revealing shift, former President Donald Trump hinted on Monday that he's open to the idea of cutting Social Security and Medicare, marking a stark contrast from his previous position and recent critiques of ... more
Inflation: Rising long-term prices signal challenges ahead for federal reserve
A recent survey from the New York Federal Reserve reveals growing consumer concerns over inflation, with long-term expectations surging beyond the Federal Reserve's target. The Survey of Consumer Expectations indicated that while the one-year inflation ... more
Daylight Saving Time: Politicians push for permanent spring forward
As Americans brace themselves for the biannual clock change, Senators Rick Scott and Marco Rubio have reignited the conversation around making daylight saving time (DST) permanent. With the support of a bipartisan bill, the Sunshine ... more
FLX Today: How much is too much for a Thanksgiving turkey? Wegmans pushes the limits! (video)
How much is too much for a fully-cooked turkey? While going out to eat is not uncommon on holidays like Thanksgiving, a pre-cooked turkey from Wegmans has an eye-popping price tag. How much does it ... more
Inflation slows to 7.7% for the last 12 months
Inflation rates appear to be slowing as new data shows that consumer inflation reached 7.7% in October for the previous year. This year to year gain has been the smallest one since January. Not taking ... more
Two thirds of Americans surveyed think the U.S. is in a recession
Two thirds of registered voters in the U.S. believe that the current economy is actually in the midst of a recession. This data was collected using a Politico-Morning Consult Poll. While 22% of Americans surveyed ... more
Candy that had the highest rate of inflation ahead of Halloween
Nothing has been safe from inflation, and that includes candy ahead of Halloween. One of the most important parts of Halloween is the candy, but even that has become more expensive. Nothing is off limits ... more
