Biden asks Congress to suspend the federal gas tax to curb rising prices
President Biden is calling on Congress to temporarily suspend the federal gas tax. The president told reporters at an event Wednesday that he knows the proposal isn’t a permanent solution to rising prices at the pump. White House correspondent Laura…
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Inflation rises faster than expected, pinching pocketbooks and spooking the markets
New inflation numbers out Friday show the nation’s economic pain has not peaked, and is still getting worse. The U.S. Labor Department reports consumer prices rose 8.6 percent in May from a year ago, marking the biggest increase in more…
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Americans struggle with the high cost of living amid record inflation
It’s clear that the realities many Americans face are vastly different from some of the economic indicators on paper. The burden of record-high inflation has continued to push the limits for people across the country. We hear from people who…
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What the May jobs report says about the nation’s economic outlook
The May jobs reports showed U.S. employment is still going strong despite higher prices and interest rates. Employers added a net 390,000 jobs last month as the unemployment rate remained steady at 3.6 percent. Betsey Stevenson, a public policy and…
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Biden meets with Fed chair in push to address record inflation
President Biden called in the head of the Federal Reserve Tuesday to talk about the worst inflation in 40 years. But he pledged to respect the central bank’s independence. The president met with Jerome Powell, who recently won senate confirmation…
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Fallout from latest inflation report as gas prices rise l GMA
ABC News’ Trevor Ault reports on the latest government inflation report, which shows prices are up 8.3% compared to a year ago, with gas prices up 43.6% over the same period. LEARN MORE: Biden says US farmers can help in…
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New poll shows Biden still faces challenges ahead of midterms l GMA
President Joe Biden gained 5 percentage points in his overall approval rating since February in the ABC News-Washington Post poll but many Americans still disapprove of the president. #ABCNews #Biden #CorrespondentsDinner #Economy
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As the U.S. economy slows down, fears of a possible recession grow
The U.S. economy is showing troubling signs as the Commerce Department Thursday announced it shrank at an annual rate of 1.4 percent in the year’s first quarter, something that had not happened since the pandemic recession hit in 2020. Inflation…
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