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A house available for rent on March 15, 2022 in Los Angeles, California.

Inflation may be easing — but low-income people are still paying the steepest prices

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Updated May 11, 2022 at 8:37 AM ET WASHINGTON, D.C. (NPR) — Four-dollar gasoline and five-dollar hamburger are putting a squeeze on Tanya Byron’s pocketbook. But it’s the rent that really stings. “It’s pretty depressing,” says the Jacksonville, Fla., travel agent, sitting in the tiny dining room that doubles as her home office. “I make… Read More

Federal Reserve Chair Jerome Powell testifies about monetary policy and the state of the economy before the House Financial Services Committee in Washington, D.C., on March 2.

The Fed raises interest rates by the most in over 20 years to fight inflation

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WASHINGTON, D.C. (NPR) — The Federal Reserve ordered the largest interest hike in more than two decades Wednesday as part of its escalating campaign to battle stubbornly high inflation. The central bank raised its benchmark rate by half-a-percentage point, following a quarter-point increase in March. The moves mark a sharp U-turn from the easy-money policies… Read More

A car sits in the Morton parking lot on Ohio University's campus with a charger in its port

Gas prices got you wanting an electric or hybrid car? Well, good luck finding one

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WASHINGTON, D.C. (NPR) — With gasoline prices topping $4 a gallon, many drivers are looking for a car that will go farther on a gallon of gas, or maybe one that doesn’t use gasoline at all. Finding such a car, though, is not easy. Electric cars and gas-electric hybrids are in short supply, and prices… Read More

A hiring sign is posted outside a business in Huntingdon Valley, Pa.

The U.S. added 678,000 jobs in February. It’s another sign of a hot labor market

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Updated March 4, 2022 at 9:08 AM ET WASHINGTON, D.C. (NPR) — Hiring accelerated sharply last month as U.S. employers added 678,000 jobs, the largest gain since last July, and a resilient economy continues its recovery from the stubborn coronavirus pandemic. The unemployment rate fell to 3.8% last month, from 4% in January. Job gains… Read More

People shop in The Galleria mall in Houston

Believe it or not, the economy grew last year at the fastest pace since 1984

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WASHINGTON, D.C. (NPR) — Last year saw the fastest economic growth since Ronald Reagan was president. But for many people, 2021 felt less like “Morning in America” and more like a restless night, dogged by fitful dreams about the ongoing pandemic. The Commerce Department reported Thursday that the nation’s gross domestic product grew 5.7% last… Read More

Cameron Mitchell operates 60 restaurants in more than a dozen states. Rising expenses have forced him to increase menu prices three times this year.

Inflation is red hot, soaring to 6.8% in November, the highest in nearly four decades

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Updated December 10, 2021 at 9:09 AM ET WASHINGTON, D.C. (NPR) — If you think your grocery bill has gone through the roof this year, you can appreciate what’s happened to Cameron Mitchell. Mitchell’s shopping for about 60 restaurants he runs in cities across the country — from high-end steakhouses to Molly Woo’s Asian Bistro… Read More

A phone on the IRS website

Does the IRS really want to spy on your bank account? The latest tax fight, explained

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WASHINGTON, D.C. (NPR) — A new fight is brewing over taxes. The Biden administration wants to require banks to provide the Internal Revenue Service with information about how much money flows in and out of individual accounts each year. It’s part of a plan to catch people who might be cheating on their taxes and… Read More