Scott Horsley
Stories
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Business
Here are the 5 things to know about the state of the economy this Independence Day
As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.
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Business
Despite inflation and rising interest rates, the U.S. economy is still strong
Spending on travel and entertainment is up, even as Americans contend with stubborn inflation. One reason the economy is doing so well is that people keep spending money.
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National
Federal Reserve latest: Powell testifies and governing board nominees are reviewed
Federal Reserve chairman Jerome Powell testified before a House committee Wednesday. Meanwhile, a Senate panel reviewed several nominations to the Fed's board of governors, including the first Latina.
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Politics
Cheaper eggs, gas lead inflation lower in May, but higher prices pop up elsewhere
Inflation cooled slightly in May, thanks in part to falling gas and egg prices. But the overall cost of living is still climbing faster than the Federal Reserve would like.
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Business
Latest inflation numbers come as the Fed considers what to do with interest rates
The Labor Department reports Tuesday on May's inflation rate. While inflation has cooled since last summer, prices are still rising faster than the Federal Reserve would like.
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Business
Amazingly, the U.S. job market continues to roar. Here are the 5 things to know
Employers added a whopping 339,000 jobs last month, a stunningly strong number. Here are some of the key takeaways of the country's red hot labor market.
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Politics
What to expect in Biden's Oval Office address about the debt ceiling deal
President Biden delivers the first Oval Office address of his presidency. It comes a day after Congress passed a bipartisan deal to lift the debt ceiling, narrowly avoiding the deadline.
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National
Far surpassing expectations, the U.S. added a whopping 339,000 jobs in May
U.S. employers added a whopping 339,000 jobs in May, far more than forecasters had expected. The unemployment rate, which is compiled from a separate survey, rose to a still-low 3.7%.
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Politics
CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade
Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.
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Politics
Yellen sets new deadline for Congress to raise the debt ceiling: June 5
Treasury Secretary Janet Yellen says unless lawmakers raise the debt ceiling by June 5, the government won't have enough money to pay all of its bills.