Policymakers and investors are bracing for another jump in prices with new inflation figures for April set to be released Wednesday. Economists expect the Labor Department’s consumer price index (CPI), a key gauge of inflation, to show prices rising roughly 8 percent over the past 12 months and 0.2 percent in April alone, according to […]
Saudi Oil Minister Prince Abdulaziz bin Salman warned Tuesday that the world is “running out of energy capacity at all levels.” “I am a dinosaur, but I have never seen these things,” he said at a conference. A UAE official also warned that more investment is needed in the energy sector for OPEC+ to deliver […]
NEW YORK (AP) — Just as Americans gear up for summer road trips, the price of oil remains stubbornly high, pushing prices at the gas pump to painful heights. Drivers were paying $4.37 for a gallon of regular Tuesday, on average, according to AAA. That’s 25 cents higher than a month ago, and $1.40 more […]
Amazon has fired two employees with ties to the grassroots union that led the first successful US organizing effort in the retail giant’s history. The company confirmed Tuesday that it fired Michal, or ‘Mat,’ Cusick and Tristan Dutchin of the Amazon Labor Union on Staten Island, New York. But it claims the “cases are unrelated […]
This online shopping comedown isn’t confined to one company. Other e-commerce stars including Etsy and Shopify, whose software powers online businesses for millions of smaller stores, also posted unexpectedly low sales growth or low expectations for the near future. An analysis by Mastercard showed that US online shopping purchases fell in March for the first […]
Placeholder while article actions load The economist Lisa Cook appears poised to become the first Black woman on the Federal Reserve Board in a historic moment for the central bank as it tries to stabilize a recovery that serves all Americans. The Senate is expected to vote on Cook’s nomination Tuesday afternoon. No Republicans are […]
With the summer driving season approaching, the national average price for regular gasoline soared on Tuesday to a nominal record of $4.37 a gallon. But relief may be on the way, with oil prices falling below $100 a barrel, a drop of roughly 10 percent since the weekend. It can take a week for prices […]
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the US — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
Christopher Waller, US President Donald Trump’s nominee for governor of the Federal Reserve, speaks during a Senate Banking Committee confirmation hearing in Washington, DC, US, on Thursday, Feb. 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller pledged Tuesday that the rate-setting group wouldn’t make the same mistakes on inflation […]
Policymakers are not addressing many of the challenges facing today’s workforce argues Milken Institute senior director Eugene Cornelius. America is experiencing a “great shift” in the workforce, not a great resignation, Milken Institute Center for Regional Economics Director Eugene Cornelius told Fox News Digital. “People are looking for jobs that they can find advancement, people […]