Inflation is continuing its slow descent. For the 10th consecutive month, annual consumer price inflation has declined, according to April data from the Bureau of Labor Statistics out Wednesday, May 10. Overall consumer prices rose 4.9% in April from the year prior, marking the lowest inflation rate increase in two years. Meanwhile, month-to-month inflation ticked…

April’s jobs report out Friday morning, May 5, crushed economists’ estimates. The Bureau of Labor Statistics reported the economy added 253,000 jobs for the month, when around 180,000 were expected. Meanwhile, the unemployment rate edged back down to 3.4%, tying a near 70-year low. Since March 2022, the unemployment rate has stayed between 3.4% and…

A California college community is at ease following the arrest of a man suspected of a stabbing spree at city parks this week. And a horse trainer has now been suspended indefinitely from the Kentucky Derby following the sudden deaths of two of his horses. These stories and more highlight the daily rundown for Friday,…

For the 10th time since early 2022, the Federal Reserve opted to hike rates to fight inflation. The quarter-percentage-point hike announced Wednesday, May 3, puts the interest rate target range between 5% and 5.25%, the highest since 2007. The latest rate hike falls in line with the Open Market Committee’s projection of a 5.1% effective…

According to Treasury Secretary Janet Yellen, if the debt ceiling isn’t lifted soon, the government could default on its obligations “potentially as early as June 1.” President Joe Biden has made it clear he’ll veto any Republican proposals that would lift the debt ceiling by making drastic cuts in federal spending — which is exactly…

At $31.4 trillion, the national debt is the subject of a showdown between the White House and House Republicans. Unless Congress raises the debt ceiling, the U.S. is at risk of defaulting on its debt, which would have catastrophic consequences. House Republicans have proposed raising the debt ceiling into 2024 in exchange for spending cuts,…

The Senate voted 50-49 to overturn an EPA rule that would create significantly stricter emissions standards for heavy-duty trucks. All 49 Republicans and Democrat Joe Manchin, W.V., voted in favor of the bill, which used a provision in the Congressional Review Act that allows Congress to overturn final agency rules with a joint resolution.  The…