5.9% increase aims to address rising inflation. The Social Security Administration announced on Wednesday that it would be increasing its cost of living adjustment (COLA) by 5.9% in…
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Consumer Confidence Hits Seven Month Low
Commerce Department issues report on inflation-adjusted spending. The Department of Commerce released a report that reflects U.S. consumer confidence dropping for the third straight month in a row,…
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Inflation Hits 30-Year High
Numbers are above the Federal Reserve’s target. According to data released Friday by the Bureau of Economic Analysis, inflation has hit the highest rate in 30 years, fueling…
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White House Increases Inflation Projections
Supply-chain disruptions put pressure on prices. The White House Office of Management and Budget more than doubled its forecast for annual inflation in new projections. They said it…
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Home Prices Highest in 30 Years
National index has average up 14.6%. U.S. home prices rose to a record high in the month of April, as buyers competed for a limited number of homes…
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Fed Official Expects Rate Hike Next Year
Inflation is running “hotter” than Federal Reserve had anticipated. The president of the St. Louis Federal Reserve Bank predicted an interest rate hike in late 2022, which is…
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Inflation Rose to 5 Percent in May
Supply chain and hiring challenges contribute to higher prices. A report released Thursday by the Department of Labor revealed that consumer prices increased 5 percent for the year…
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Job Openings at Record High
Hiring challenges are acute for several months. The Labor Department reported Tuesday that job openings rose to a new record high in April, along with the number of…
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Treasury Secretary Hints at Interest Increases
Expects the Federal Reserve to maintain economic stability. On Tuesday, Secretary of the Treasury Janet Yellen indicated that national interest rates might have to increase due to the…
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Federal Reserve Releases Statement on Interest Rates
Decision by FOMC to keep rates low during economic recovery On Wednesday, the Federal Reserve issued a statement from the Federal Open Market Committee (FOMC) regarding interest rates.…
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