According to data from Datasembly, the ongoing baby formula shortage got worse throughout the month of April. After hovering between 2% and 8% in the first half of 2021, the out-of-stock rate of baby formula jumped to 23% in January, 29% in March, 31% in mid-April, and up to 40% by Apr. 24. “Inflation, supply…

Inflation is on a tear, markets are volatile and consumer dollars aren’t going as far as they once did. It sounds like a perfect time for some valuable penny-pinching tips in this week’s Five For Friday. #1: Cash stuffing Popular video-sharing app TikTok has turned the old-school “cash envelope system” on its head. “Cash stuffing”…

Stocks are slumping on Wall Street as markets assess the Federal Reserve’s move to fight inflation. The economy is a big concern for Americans and many say the country is heading in the wrong direction according to recent polling. The Fed raised its benchmark interest rate by a half-percentage point Wednesday, as the U.S. struggles…

The Federal Reserve announced Wednesday it’s hiking its benchmark interest rate by 50 basis points, the second hike in two months and the largest one-time hike since the year 2000. With inflation now running at a 40-year high after two years of pandemic-driven monetary policy, the Fed is trying to tamp down without triggering a…

There’s little to gain from towering inflation, but the Series I Bond is one silver lining. With the cost of living up 8.5% from one year ago, any money making less than that return is a losing investment. But the I bond is a virtually risk-free investment that now pays nearly 10% interest. Definition A…

The Commerce Department’s Bureau of Economic Analysis (BEA) reported the U.S. economy shrank for the first time since the early days of the COVID-19 pandemic in the first quarter of 2022. The economy had seen six straight quarters of growth after shrinking by nearly a third in the second quarter of 2020. “Real gross domestic…

China’s National Health Commission reported the first human case of the H3N8 strain of bird flu. According to a Tuesday statement from the commission, the strain was found in a four-year-old boy from the central province of Henan who showed fever and other symptoms on Apr. 5. The child had been in contact with chickens…

When it comes to the stock market, there have been a lot of “worsts” in 2022, from the worst January since 2009 to the worst quarterly decline in two years. Now, with interest rates skyrocketing, inflation at a 40-year high and experts predicting increasing likelihood of recession in the next two years, investors are looking…

A record 70% of U.S. firms reported paying higher wages the first quarter of 2022, according to a survey by the National Association for Business Economics. The April result represents the highest share of respondents in the survey’s 40-year history. It’s also the seventh consecutive survey where the number of respondents reporting higher wages increased.…

The U.S. economy is at a critical juncture. While the job market is rich with opportunities, prices are high due to historic inflation, and things are likely to get worse. According to the recent Labor Department JOLT Survey, data from February indicates the labor market is booming. It shows that once again, a near record 11.3…