Inflation gauge tracked by the Fed slows to still-high 6%
The report also showed that consumers spent more in October, even after adjusting for inflation, a sign of their continued willingness to keep spending in the face of high prices.
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GivingTuesday raises $3.1B for charities in tough economy
The organization said this year’s totals marked the largest amount donated on the Tuesday after Thanksgiving since the group started tracking it.
Powell: Fed to keep rates higher for longer to cut inflation
The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday, in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation.
UPDATE: House votes to avert rail strike, impose deal on unions
The bill lawmakers are considering would impose a compromise labor agreement that was voted down by four of the 12 unions representing more than 100,000 employees at large freight rail carriers.
Penalty sought for doctor who spoke of 10-year-old’s abortion
The complaint by Indiana’s attorney general alleges Dr. Caitlin Bernard violated state law by not immediately reporting the girl’s rape to Indiana authorities and violated patient privacy laws by telling a newspaper reporter about the girl’s treatment.
U.S. upgrades 3Q economic growth estimate to 2.9% rate
Wednesday’s government report showed that the restoration of growth in the July-September period was led by solid gains in exports and consumer spending that was stronger than originally reported.
U.S. monthly job openings dip to still-high level
The Federal Reserve is closely monitoring the figures on job openings and quits for signals about the strength of the job market.
Lawmakers skeptical grocery merger will mean lower prices
Kroger announced its plan to acquire Albertsons for $20 billion in mid-October. Together, the companies would control about 13% of the U.S. grocery market.
Drug slows Alzheimer’s, but can it make a real difference?
An experimental Alzheimer’s drug modestly slowed the brain disease’s inevitable worsening, researchers reported Tuesday—but it remains unclear whether that will have an impact on people’s lives.
Senate vote to protect same-sex marriage reflects years-long political shift
The Respect for Marriage Act, once repassed by the House and signed by President Joe Biden, will help protect recognition of same-sex marriages, enforced by the U.S. Supreme Court’s 2015 Obergefell v. Hodges ruling, against future legal challenges.
U.S. consumer confidence falls for second month
A rising number of households are stepping up their use of credit cards—or “buy now, pay later” plans—to keep up with higher prices.
Biden calls on Congress to head off potential rail strike
A coalition of more than 400 business groups sent a letter to congressional leaders Monday urging them to step into the stalled talks because of fears about the devastating potential impact of a strike.
BlockFi seeks protection as FTX collapse rattles crypto
In a Monday filing for bankruptcy protection in New Jersey, where it is based, BlockFi claimed more than 100,000 creditors and liabilities ranging from $1 billion to $10 billion.
After record Black Friday, consumers turn to Cyber Monday for more deals
Cyber Monday is expected to remain the year’s biggest online shopping day and rake in up to $11.6 billion in sales, according to Adobe Analytics, which tracks transactions at over 85 of the top 100 U.S. online stores.
IU coach: Vegas tourney a setback for women’s basketball
Indiana University women’s basketball coach Teri Moren said she considered not playing the University of Memphis on Saturday night in the Las Vegas Invitational because no paramedics were on site.
Workers protest, beaten at virus-hit Chinese iPhone factory
Employees at the world’s biggest Apple iPhone factory were beaten and detained in protests over pay amid anti-virus controls, according to witnesses and videos on social media Wednesday, as tensions mount over Chinese efforts to combat a renewed rise in infections.
Unemployment claims rise to 240,000, highest since August
The number of Americans applying for unemployment benefits rose last week to the highest level since August but still remains low by historic standards.
Indiana lawmakers return ahead of new state budget debate
The four-month-long 2023 session that begins in early January will focus on drafting a new state budget, with Democrats calling for a pause on debating contentious social issues after Republican lawmakers pushed through the state’s abortion ban over the summer.
Thanksgiving travel rush is back with some new habits
Experts say many people will start holiday trips early or return home later than normal because they will spend a few days working remotely — or at least tell the boss they’re working remotely.
Supreme Court OKs handover of Trump tax returns to Congress
The court, with no noted dissents, rejected Trump’s plea for an order that would have prevented the Treasury Department from giving six years of tax returns for Trump and some of his businesses to the Democratic-controlled House Ways and Means Committee.