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Jul 29, 2022

The latest inflation numbers show more pain for consumers

The Federal Reserve’s preferred gauge for inflation went up 6.8% in the year that ended in June, reaching yet another 40-year high. It’s difficult to say, then, that we’ve hit peak inflation, and that’s stretching consumers even thinner, says Christopher Low, chief economist at FHN Financial. A look at what’s in the CHIPS Act, the semiconductor-boosting bill that’s expected to be signed into law soon. And we talked to APM Reports about their recent investigation into allegations against a popular COVID testing company. 

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NEW YORK, NEW YORK - JUNE 15: People shop for food along a busy street in Brooklyn on June 15, 2022 in New York City. As the American economy continues to see a rise in inflation, the Federal Reserve announced on Wednesday that it is raising interest rates by 0.75%, the largest such move since 1994. The Fed is attempting to cool the economy and keep prices on everyday items such as food, gas, and rent under control.
NEW YORK, NEW YORK - JUNE 15: People shop for food along a busy street in Brooklyn on June 15, 2022 in New York City. As the American economy continues to see a rise in inflation, the Federal Reserve announced on Wednesday that it is raising interest rates by 0.75%, the largest such move since 1994. The Fed is attempting to cool the economy and keep prices on everyday items such as food, gas, and rent under control.
Spencer Platt/Getty Images

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