Scott Horsley
Stories
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The Federal Reserve is expected to take a big step to try to lower inflation
The Fed is likely to raise interest rates by a half-percentage point Wednesday, in an effort to crack down on inflation. It's the first rate hike of that size in more than two decades.
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Many forecasters believe a recession is coming
High inflation and the resulting crackdown by the Federal Reserve are fueling worries that the U.S. could be headed for a recession.
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Employers continue hiring spree even as war in Ukraine ratchets up economic fears
U.S. employers added 431,000 jobs in March, as the unemployment rate fell to 3.6% from 3.8% in February. The tight job market is putting upward pressure on both wages and prices.
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Gas prices got you wanting an electric or hybrid car? Well, good luck finding one
Soaring gasoline prices have fueled increased demand for electric cars, hybrids and smaller gasoline-powered vehicles. But shoppers may not find much to choose from.
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More people are looking for hybrid or electric cars — but there aren't many options
High gasoline prices are boosting demand for more fuel-efficient vehicles. But some customers shopping for hybrids or electric cars are turned off by the rising sticker prices and limited selection.
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Inflation climbed to a new four-decade high last month.
Consumer prices surge 7.9% in February from a year ago, keeping inflation at a 40-year high.
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Inflation hits another 40-year high. The war in Ukraine could make it worse
Annual inflation climbed to a new four-decade high in February, with consumer prices up 7.9% from a year ago. The increase does not reflect most of the recent jump in gasoline prices.
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Gas prices surge to above $4 a gallon, near a national record
The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.
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The U.S. added 678,000 jobs in February. It's another sign of a hot labor market
U.S. employers added 678,000 jobs in February, as the unemployment rate fell to 3.8%, from 4% in January. The Federal Reserve hopes to curb inflation without stalling job growth.
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The Federal Reserve is ready to raise interest rates soon despite the war in Ukraine
Fed Chair Jerome Powell says the central bank is prepared to begin raising interest rates this month to fight inflation despite economic uncertainty after Russia's invasion of Ukraine.