Latest Inflation News
Trump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
WASHINGTON (AP) — President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time before settling on billionaire investor Scott Bessent as his treasury secretary nominee. The Republican not only wanted someone who jibes with him, but an official who can...
Trump chooses Bessent to be treasury secretary, Vought as budget chief, Chavez-DeRemer for Labor
WASHINGTON (AP) — President-elect Donald Trump announced Friday that he'll nominate billionaire hedge fund manager Scott Bessent, an advocate for deficit reduction, to serve as his next treasury secretary, one of several personnel decisions that he unveiled as he closed out the workweek. ...
What to know about Scott Bessent, Trump's pick for treasury secretary
WASHINGTON (AP) — President-elect Donald Trump has chosen money manager Scott Bessent, an advocate for deficit reduction and deregulation, to serve as his next treasury secretary. Bessent is a past supporter of Democrats who has become an enthusiastic supporter of Trump. He’s an...
McDonald's to expand US value menu as fast food chains battle for bargain seekers
McDonald's will expand its U.S. value menu early next year as it continues to try to win back inflation-weary customers. Starting Jan. 7, the burger chain will let customers buy one full-priced item from a limited value menu and get another item on that menu for $1. Items on the menu...
Next week: Bath & Body Works, consumer confidence, Fed meeting minutes
A look at some of the key business events and economic indicators upcoming next week. Bath & Body Works Retailer Bath & Body Works offers up its latest financial results on Monday before markets open. The retailer is forecast by analysts to post...
Tariff hikes will backfire, and China can manage such 'external shocks,' a senior official says
HONG KONG (AP) — Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing. Responding to a reporter's question...
US applications for jobless benefits fall to 213,000, remaining near 7-month lows
The number of Americans applying for unemployment benefits fell again last week, remaining near seven-month lows. The Labor Department reported Thursday that jobless claim applications fell by 6,000 to 213,000 for the week of Nov. 16. That’s fewer than the 220,000 analysts...
Federal Reserve's likely slowdown in rate cuts could disappoint borrowers
WASHINGTON (AP) — Just a few weeks ago, the path ahead for the Federal Reserve looked straightforward: With inflation cooling and the job market slowing, the Fed appeared on track to steadily cut interest rates. In September, its officials predicted that they would reduce their...
Sierra Leone loves rice and wants to free itself from imports. But how to do it?
FREETOWN, Sierra Leone (AP) — Rice borders on the sacred in Sierra Leone. Unless a meal includes rice, people say, you haven’t eaten at all. But as prices soar, consumers in the West African nation are giving up other food to buy it. That's a major reason why 83% of the...
A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter
NEW YORK (AP) — Target on Wednesday reported sluggish sales and slumping profits in the fiscal third quarter as inflation-weary customers curtailed their spending on apparel and other non-essential items. The Minneapolis retailer fell short of Wall Street expectations for the...
