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Lowest-paid workers will likely feel the pinch of cooling economy first

Jun 23, 2022
Those same workers have seen their wages grow faster than the overall average in the last year thanks to the labor shortage.
Workers in low-paid environments, like restaurants and bars, saw some of the biggest wage gains during the pandemic.
Scott Heins/Getty Images

Here's why the CFPB is concerned about credit card late fees

Jun 23, 2022
Credit card companies can change their fees based on inflation.
The limit on credit card late fees changes to allow for inflation.
Olivier Douliery/AFP via Getty Images)

Soaring UK inflation tops 9%, fuels labor unrest

Jun 23, 2022
The Ukraine war and the impacts of the pandemic sparked a global spike in prices. Britain is grappling with the domestic consequences.
Workers marched through London last weekend, demanding pay raises to match inflation.
Stephen Beard/Marketplace

The Fed's heightened rates are still way below historic levels

Jun 23, 2022
Trevon Logan, professor of economics at The Ohio State University, says we're looking at a "new normal" for the federal funds rate.
Karen Bleier/AFP via Getty Images

Odds of a recession rising but vary widely

Jun 21, 2022
There is a very real chance that the country may end up paying a price for getting inflation under control. That price is recession.
Timothy A. Clary/AFP via Getty Images

Japanese shocked by rising prices after decades of economic stagnation

Jun 20, 2022
Japan had struggled to even reach the central bank inflation target of 2%.
Japanese consumers have come to expect stable prices, making it difficult for stores to consider increasing them.
Yuichi Yamazaki/Getty Images

"We need to act decisively and affirmatively to get inflation under control," says Atlanta Fed president

Jun 17, 2022
Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, on why he supports this week's rate hike.
Raphael Bostic, president and CEO of the Federal Reserve Bank of Atlanta, speaks at an event for the Rotary Club of Atlanta.
E. M. Pio Roda / Federal Reserve Bank of Atlanta

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Inflation's a global problem. Curbing it may send some countries' economies into recession.

Jun 16, 2022
The U.S. economy might have an easier time achieving a "soft landing" than economies in Europe and elsewhere.
Europe has not yet reached pre-pandemic employment or output levels, and the ECB has signaled an interest rate hike next month. Above, the European Central Bank headquarters in Frankfurt, Germany.
Daniel Roland/AFP via Getty Images

Things are "awesome and amazing" at this Montana mall

Jun 16, 2022
Alana Ferko explains what's new at the Butte Plaza Mall.
Tim Boyle/Getty Images

Retail sales dip may be lined with silver

Jun 15, 2022
The slight decline from April to May could indicate a slowing economy — which the Federal Reserve is hoping for.
Justin Sullivan/Getty Images