Used cars costing consumers $10,000 more than 'normal' as inflation rages
Used car prices have skyrocketed close to 45% over the past year as a result of pandemic-induced supply chain disruptions and a semiconductor shortage.
Florida sending 'inflation relief' stimulus checks to families: What to know
Florida is sending qualifying families stimulus payments worth up to $450 per child in order to offset the pain of higher prices after inflation hit a new record high in June.
Biden administration on the defensive as dismal economic report looms
President Biden's economic team is trying to redefine what constitutes a recession ahead of what is expected to be a dismal second-quarter GDP reading next week.
How housing is fueling searing-hot inflation
U.S. inflation is likely to remain elevated in coming months as a result of skyrocketing housing costs, which economists warn could be slow to moderate.
Senate Republican to propose 'inflation relief' in new bill targeting tax credits
Sen. Chuck Grassley plans to introduce a bill on Thursday that would index certain tax benefits to inflation to ensure that higher prices do not erode the credits.
Jobless claims rise to highest level in 8 months
The Labor Department on Thursday released new data on jobless claims, revealing that the labor market is beginning to cool as the Federal Reserve raises interest rates.
Global recession is a 'clear and present danger,' Citi economists warn
The odds of a global recession are about 50%, Citi economists said in a new analyst note, warning there is a "real and present danger" of a downturn.
Existing home sales tumble 5.4% in June as prices hit another record high
Rising mortgage rates combined with the steady increase in home prices has pushed prospective homebuyers out of the market in recent months, new data shows.
Investor pessimism highest since 2008 financial crisis as inflation rages: BofA
There is a "dire level" of pessimism among fund managers, according to a new Bank of America survey, which painted a bleak picture of sentiment on Wall Street.