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“Inflation hits whopping 9.1%, raising risk of 1% interest rate hike” Inflation surged an unexpectedly strong 9.1% last month, raising the risk of even steeper rate hikes from the Federal Reserve as Americans get pummeled by record gas prices, soaring rents and stiff grocery bills. The dismal June reading released by the Labor Department on…
“Biden may lift Chinese tariffs in bid to tackle inflation: report” President Biden is poised to roll back tariffs on some Chinese imports in an effort to slow soaring rates of inflation not seen in the country for decades. A decision by Biden could be announced as soon as this week, according to The Wall…
“‘Breaking Bad’ star Dean Norris has message about gas price anger” A star from the AMC hit series “Breaking Bad” has little sympathy for Americans complaining about record-high gas prices. Dean Norris, who played the likable yet gullible DEA agent Hank Schrader in the critically acclaimed series, went viral on Twitter with a tweet on…
“Record-high US inflation has analysts gloomy” Economists seeking a sign that the country’s financial health was turning a corner were left reeling after the federal government released data indicating that inflation rose at a pace not seen in more than four decades. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s…
“Inflation stayed red-hot in May as high energy prices drive soaring prices” American consumers continue to be weighed down by soaring levels of inflation as the consumer price index remained at a sky-high clip of 8.6% — the highest since 1981 — thanks to skyrocketing oil prices as well as the rising cost of food,…
“Biden official admits few options to lower gas prices” Commerce Secretary Gina Raimondo admitted Tuesday that the Biden administration is running out of options as it scrambles to bring down gas prices that have surged to record highs across the nation in recent weeks. “Unfortunately, that is the brutal reality,” Raimondo told CNN. The stark…
“Gas prices have doubled since Biden took office” The national average price of a gallon of gas has doubled since President Biden took office in January 2021 – a dubious milestone for the administration as it scrambles to tamp down inflation ahead of the upcoming midterm elections. The national average hit a record $4.86 per…
“Summer fuel shortages could be worse than 1970s oil crisis” The United States and Europe could experience fuel shortages this summer that could be worse than the 1970s oil crisis as demand ramps up for travel season, the head of the International Energy Agency warned. “When the main holiday season starts in Europe and the…
“Beef, chicken prices surge, hit Memorial Day record highs” Americans enjoying their barbecues during the unofficial start of summer this Memorial Day weekend likely paid a premium for ground beef and chicken, according to the latest federal data. Prices for meat rose 0.7% between March and April of this year, the US Department of Agriculture…
“US gas prices hit record highs amid Memorial Day travel” Americans hitting the road on Memorial Day weekend were greeted by record-high gas prices as the average cost of a gallon of fuel hit $4.62 nationwide. Motorists in California were feeling the strongest pinch Monday, with some gas stations in parts of Los Angeles, the…