Inflation rose in July, marking the first increase in a year
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
Watch CBS News
Though far from its recent peak of 9.1% in June 2022, the figure remains higher than the Federal Reserve's goal of 2%.
In California, film and television production accounts for more than 700,000 jobs and nearly $70 billion a year in wages.
Officials at the University of Wisconsin-Oshkosh plan to lay off scores of employees, offer early retirement deals and impose furloughs as they grapple with a projected $18 million deficit.
Although inflation has slowed sharply, Fed officials are again tapping the brakes to ensure the economy slows.
Yellen believes her visit to Beijing created "opportunity for a deeper set of more frequent contacts," she said on "Face the Nation" Sunday.
Hiring reflects a sharp slowdown compared with May, reflecting economic headwinds facing some businesses.
The Federal Reserve stabilized interest rates yesterday, which could bring in more buyers. But that doesn't mean the process will be easier or cheaper any time soon. WCCO's Allen Henry explains.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The financial health of some groups has deteriorated sharply compared with a year ago due to rising inflation and higher bills.
"People have been using the wrong R-word to describe the economy," one economist said. "It's resilience — not recession."
Millions of Social Security recipients "need to be very careful" about spending because payments could be delayed, one expert said.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
Beginning May 1, some people with higher credit scores may actually end up paying a higher fee.
The economy grew at a tepid 1.1% rate, showing that the Fed's interest rate hikes are taking effect.
Mired in a prolonged sales slump, the retail chain has struggled to attract customers both in stores and online.
Wedding dress retailer cites "post-COVID environment and uncertain economic conditions," saying it's looking for a buyer.
Views of economy remain negative, with a mixed outlook at best, as possible debt limit crisis looms.
Stocks rose to their highest level in almost two months in another sign that inflation is cooling.
Stocks closed lower following latest update on inflation and warning of possible recession.
Sales of robotic servers have been growing rapidly, with tens of thousands now gliding through dining rooms worldwide.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
A surge in grocery costs combined with the end of pandemic programs is causing a spike in hardship, a new study finds.
At the height of the Great Recession, Scott Pelley reported on the lengths the federal government will go to protect bank depositors.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
