Economy
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3 hours ago

By the Numbers: The Inflation Reduction Act

A look at the numbers behind the Inflation Reduction Act as President Joe Biden signs the measure into law.
3 hours ago
By the Numbers: The Inflation Reduction Act
August 16, 2022, 8:16 PM

Inflation Reduction Act may have little impact on inflation

With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act
August 16, 2022, 8:16 PM
Inflation Reduction Act may have little impact on inflation
August 15, 2022, 8:31 PM

How the Federal Reserve can fight inflation

Economist and President of Cambridge University’s Queens’ College, Dr. Mohamed El- Erian, talks about how the Federal Reserve can combat inflation and his outlook for the Inflation Reduction Act.
August 15, 2022, 8:31 PM
How the Federal Reserve can fight inflation
August 14, 2022, 9:27 PM

Average US gasoline price falls 45 cents to $4.10 per gallon

The average U.S. price of regular-grade gasoline plummeted 45 cents over the past three weeks to $4.10 per gallon
August 14, 2022, 9:27 PM
August 14, 2022, 6:44 PM

Has inflation finally peaked? Economists divided on extent of recent relief

While still elevated, price hikes last month waned from the near-historic pace.
August 14, 2022, 6:44 PM
Has inflation peaked? Economists weigh in.
August 13, 2022, 12:19 AM

House Dems pass $370 billion Inflation Reduction Act

The bill is a cornerstone of President Joe Biden’s economic agenda. It is the largest investment in fighting climate change in U.S. history. It will also help lower prescription drug costs for some.
August 13, 2022, 12:19 AM
House Dems pass $370 billion Inflation Reduction Act
August 12, 2022, 4:52 PM

House of Representatives expected to pass climate and health care legislation

ABC News business reporter Alexis Christoforous and Zohreen Shah discuss the latest on the Inflation Reduction Act and what it means for the U.S. economy.
August 12, 2022, 4:52 PM
House of Representatives expected to pass climate and health care legislation
August 12, 2022, 12:46 PM

Gas prices drop below $4, but will prices go lower?

ABC News' Rebecca Jarvis weighs in on the question as the cost of a gallon of gas plummets to its lowest point since the Russian invasion of Ukraine kicked off the surge.
August 12, 2022, 12:46 PM
Gas prices drop below $4, but will prices go lower?
August 11, 2022, 11:19 PM

Gas prices fall below $4 for 1st time since March

In Texas, the state with the lowest average gas price, a gallon costs $3.49, AAA data showed.
August 11, 2022, 11:19 PM
Gas prices fall below $4 for 1st time since March
August 11, 2022, 8:46 PM

Rep. Jayapal: Inflation Reduction Act is 'a significant movement forward'

ABC News' Kayna Whitworth spoke with Rep. Pramila Jayapal, D-WA, about the Inflation Reduction Act and a path forward for Democrats now under 100 days until the midterms.
August 11, 2022, 8:46 PM
Rep. Jayapal: Inflation Reduction Act is 'a significant movement forward'
August 11, 2022, 8:46 PM

Inflation slows as US economy rebounds

ABC News' Zohreen Shah and ABC News business reporter Alexis Christoforous discuss the latest on the economy as wholesale prices rose 9.8% over the past year as of July.
August 11, 2022, 8:46 PM
Inflation slows as US economy rebounds
August 11, 2022, 6:19 PM

Gas prices fall below $4 for 1st time since March

In Texas, the state with the lowest gas prices, a gallon costs $3.49.
August 11, 2022, 6:19 PM
Gas prices fall below $4 for 1st time since March
August 11, 2022, 5:16 PM

Wholesale prices, inflation data show improvement

ABC News business reporter Alexis Christoforous breaks down the latest inflation reports, which show wholesale prices dropped 0.5% and 262,000 people filed for unemployment claims.
August 11, 2022, 5:16 PM
Wholesale prices, inflation data show improvement
August 11, 2022, 5:14 PM

Weekly jobless claims report shows 262,00 people filed unemployment claims

Wholesale prices are up 9.8% over the last year as of July, and 262,000 people filed unemployment claims last week, an increase of 14,000 from the week before.
August 11, 2022, 5:14 PM
Weekly jobless claims report shows 262,00 people filed unemployment claims
August 11, 2022, 12:46 PM

Food banks hit hard amid inflation

Food distribution sites have become vital for families as food prices have soared nearly 11% over the past year.
August 11, 2022, 12:46 PM
Food banks hit hard amid inflation
August 11, 2022, 12:26 PM

New numbers could signal turning point for inflation

ABC News’ Trevor Ault and Rebecca Jarvis break down the good and bad from the latest inflation report and what could come next for the economy.
August 11, 2022, 12:26 PM
New numbers could signal turning point for inflation
August 11, 2022, 9:06 AM

Inflation hits these products the most and these the least: EXPLAINER

Which products and services are most affected by inflation?
August 11, 2022, 9:06 AM
Inflation hits these products most and these least: EXPLAINER
August 11, 2022, 2:44 AM

July inflation holds steady as food and shelter costs rise

The July inflation rate held steady despite the rising costs in food and shelter.
August 11, 2022, 2:44 AM
July inflation remains steady as food, shelter rise
August 11, 2022, 1:05 AM

More than 57,000 apply for air traffic control jobs

The median annual salary for air traffic controllers was $138,556 in 2021.
August 11, 2022, 1:05 AM
More than 57,000 apply for air traffic control jobs
August 11, 2022, 12:32 AM

US inflations slows, gas prices fall sharply

With gas prices plunging after an all-time high average price in June, a new report shows inflation slowing to 8.5% in July compared to one year ago.
August 11, 2022, 12:32 AM
US inflations slows, gas prices fall sharply
August 10, 2022, 11:32 PM

Inflation slows slightly in July as prices increase 8.5% in past year

ABC News’ Alexis Christoforous and Kenneth Moton break down the latest inflation report, which showed inflation slowing in July from the previous month.
August 10, 2022, 11:32 PM
Inflation slows slightly in July as prices increase 8.5% in past year
August 10, 2022, 6:43 PM

New Inflation data shows costs rose 8.5% over past year

ABC News business reporter Alexis Christoforous discusses the latest consumer price index report showing inflation rising to 8.5% in the past year and the key issues keeping inflation so high.
August 10, 2022, 6:43 PM
New Inflation data shows costs rose 8.5% over past year
August 10, 2022, 5:58 PM

Inflation slows in July as gas prices drop

ABC News business reporter Alexis Christoforous discusses the latest consumer price index report that shows inflation is up 8.5% in the past year and what that means for Americans’ wallets.
August 10, 2022, 5:58 PM
Inflation slows in July as gas prices drop
August 10, 2022, 5:04 PM

Inflation slows significantly as gas prices drop in July

The slowdown coincides with a series of rate hikes from the Federal Reserve.
August 10, 2022, 5:04 PM
Inflation slows significantly as gas prices drop in July
August 10, 2022, 4:33 PM

New numbers on inflation send signal for economy

ABC News' Rebecca Jarvis explains the drivers behind inflation and expectations for Americans' wallets.
August 10, 2022, 4:33 PM
New numbers on inflation send signal for economy
August 10, 2022, 3:49 PM

China's youth face bleak job market as COVID slows economy

China’s 11 million university graduates are struggling in a bleak job market as repeated shutdowns under China’s “zero-COVID policy” force companies to retrench and drive many restaurants and other small employers out of business
August 10, 2022, 3:49 PM
August 10, 2022, 2:01 PM

Evictions spiking as assistance, protections disappear

Eviction filings around the country are returning to pre-pandemic levels in many cities and states
August 10, 2022, 2:01 PM
Evictions spiking as assistance, protections disappear
August 10, 2022, 12:34 PM

Prices finally falling

Americans are finally seeing some relief at the gas station and while shopping online. ABC News’ Mona Kosar Abdi reports.
August 10, 2022, 12:34 PM
Prices finally falling
August 10, 2022, 2:21 AM

USPS to request rate increase due to inflation, DeJoy says

Postmaster General Louis DeJoy says inflation is going to necessitate another rate increase in January
August 10, 2022, 2:21 AM
August 10, 2022, 12:16 AM

Gas prices fall below $4 dollars

GasBuddy reports that the national average for a gallon of gas is $4 dollars, which is down from a record-high of $5.03 in June.
August 10, 2022, 12:16 AM
Gas prices fall below $4 dollars
August 9, 2022, 11:06 PM

Democrats have a lot riding on the Inflation Reduction Act | FiveThirtyEight

Could Democrats turn around President Joe Biden’s approval rating with this newest piece of legislation?
August 9, 2022, 11:06 PM
Democrats have a lot riding on the Inflation Reduction Act | FiveThirtyEight
August 9, 2022, 10:36 AM

US consumers may suffer from Pelosi's Taiwan trip: Experts

Economic retaliation is likely to come as China retaliates over the House speaker's visit to Taiwan.
August 9, 2022, 10:36 AM
How Pelosi's Taiwan trip threatens US consumers: Experts
August 8, 2022, 10:11 PM

Is the Inflation Reduction Act going to improve the economy?

ABC News business reporter Alexis Christoforous explains how the Inflation Reduction Act will improve the economy and why Americans won't feel the relief right away.
August 8, 2022, 10:11 PM
Is the Inflation Reduction Act going to improve the economy?
August 8, 2022, 9:06 PM

House to vote on historic Inflation Reduction Act

Rep. Colin Allred, D-Texas, discusses the upcoming House vote on the historic Inflation Reduction Act following its passage in the Senate and the prospects of bringing home athlete Brittney Griner.
August 8, 2022, 9:06 PM
House to vote on historic Inflation Reduction Act
August 8, 2022, 9:04 PM

What the Inflation Reduction Act means for Americans

ABC News political contributors Barbara Comstock and Yvette Simpson break down the impact of the Inflation Reduction Act after Senate Democrats passed the bill.
August 8, 2022, 9:04 PM
What the Inflation Reduction Act means for Americans
August 8, 2022, 7:12 PM

Rep. Colin Allred details how climate, tax, health care bill will lower everyday costs

The Inflation Reduction Act s now set for a vote in the House this week.
August 8, 2022, 7:12 PM
Rep. Allred details how climate, tax, health care bill will lower everyday costs
August 8, 2022, 4:01 PM

Senate passes major health care, climate and tax package

ABC News’ Zohreen Shah discusses the latest on the Senate Democrats passing a health, climate and tax package and what this means for the political climate heading into the midterm elections.
August 8, 2022, 4:01 PM
Senate passes major health care, climate and tax package
August 8, 2022, 3:51 PM

ABC News Live: Senate passes economic package by narrow majority

Plus, severe weather and staffing shortages cause major travel issues across the country and the national average for gas was down 16 cents last week.
August 8, 2022, 3:51 PM
ABC News Live: Senate passes economic package by narrow majority
August 8, 2022, 3:51 PM

Senate Democrats pass climate, tax and health bill aimed to reduce inflation

ABC News business reporter Alexis Christoforous discusses the latest on the Inflation Reduction Act and what that means for Americans’ health insurance and prescription drug charges.
August 8, 2022, 3:51 PM
Senate Democrats pass climate, tax and health bill aimed to reduce inflation
August 8, 2022, 3:48 PM

Inflation bill passes Senate

The Inflation Reduction Act aims to reduce drug costs, invest in clean energy, and raise taxes on corporations.
August 8, 2022, 3:48 PM
Inflation bill passes Senate
August 8, 2022, 2:44 PM

Senate Democrats pass climate, tax and health care bill after marathon voting session

The Senate passed the Inflation Reduction Act (IRA) along party lines Sunday, handing Democrats a crucial legislative win as the midterm cycle ramps up.
August 8, 2022, 2:44 PM
Senate Democrats pass climate, tax and health care bill after marathon voting session
August 8, 2022, 11:46 AM

Americans have dim view of US economy, new poll shows

More than two-thirds (69%) of Americans think the nation's economy is getting worse, according to a recent ABC News/Ipsos poll.
August 8, 2022, 11:46 AM
Americans have dim view of US economy, new poll shows
August 8, 2022, 12:53 AM

Schumer speaks after Senate passes Inflation Reduction Act

The Senate on Sunday passed the Inflation Reduction Act with a 51-50 vote after a nearly 16-hour "vote-a-rama."
August 8, 2022, 12:53 AM
Schumer speaks after Senate passes Inflation Reduction Act
August 8, 2022, 12:42 AM

Senate passes landmark Inflation Reduction Act

Vice President Kamala Harris cast the tie-breaking vote.
August 8, 2022, 12:42 AM
Senate passes landmark Inflation Reduction Act
August 7, 2022, 9:33 PM

Senate passes Inflation Reduction Act in 51-50 vote

The bill aims to increase job creation, raise taxes on large corporations, lower the costs of some prescription drugs and invest in addressing climate change.
August 7, 2022, 9:33 PM
Senate passes Inflation Reduction Act in 51-50 vote
August 7, 2022, 9:08 PM

Republicans strip $35 insulin price cap from Democrats' bill -- but insist Senate rules are to blame

Democrats couldn't overcome Republican opposition on Sunday and include a cap on insulin prices in their party-line reconciliation bill
August 7, 2022, 9:08 PM
Republicans strip $35 insulin price cap from Democrats' bill, but blame Senate rules
August 7, 2022, 5:10 PM

Impending passage of Democrats' climate and tax bill is a 'boondoggle': Mike Rounds

Sen. Mike Rounds on Sunday labeled the impending passage of a Democratic tax, climate and health bill as a "boondoggle" for the economy, for consumers and more
August 7, 2022, 5:10 PM
Impending passage of Democrats' climate and tax bill is a 'boondoggle': Rounds
August 7, 2022, 5:10 PM

Sour views on economy keep Biden approval on issues down: POLL

Over two-thirds (69%) of Americans think the nation’s economy is getting worse, the highest it has been since 2008, when it was 82% in an ABC News/Washington Post poll.
August 7, 2022, 5:10 PM
Sour views on economy keep Biden approval on issues down: POLL
August 7, 2022, 3:30 PM

Coons confident Dems' tax, health and climate bill will pass but admits delayed impact on inflation

Sen. Chris Coons, D-Del., said Sunday he's confident the Inflation Reduction Act will pass but conceded the legislation's impact on inflation would not be immediate
August 7, 2022, 3:30 PM
Coons says health, tax, climate package will pass; admits delayed impact on inflation
August 7, 2022, 3:03 PM

Demand for grocery delivery cools as food costs rise

U.S. demand for grocery delivery is cooling as food prices rise
August 7, 2022, 3:03 PM