Scott Horsley
Stories
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Business
Jerome Powell says Fed is resolved to fight inflation even if it brings economic pain
The Fed's chair comments signal the central bank is determined to continue raising interest rates to bring down inflation.
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Business
These are some of the ways inflation is changing Americans' spending habits
From Walmart to the neighborhood supermarket, retailers across the country are having to adjust as Americans watch their pennies in the face of high inflation.
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Business
Walmart says inflation is helping it to attract more upper-income shoppers
As retail prices continue to climb, customers are adjusting their shopping habits. Meanwhile retail giants like Walmart are tweaking their merchandise mix in response to customers' shifting demands.
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Politics
The IRS just got $80 billion to beef up. A big goal? Going after rich tax dodgers
The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.
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Politics
Why falling gas prices are not taking the sting out of inflation
Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.
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Business
Gas prices are finally dropping. Here are 4 things to know
The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.
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Business
The job market got even better, in a surprisingly positive sign for the economy
U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.
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National
The overheated U.S. housing market is starting to cool down
Anyone looking to buy or sell a home is suddenly facing a very different market. Sales have dropped and once-hot markets are cooling. Home builders have noticed and are rethinking construction plans.
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Politics
Hiring slipped only slightly in June, with no sign of a looming recession
U.S. employers added 372,000 jobs in June, while the unemployment rate held steady at 3.6%. Despite slightly slower job growth, the labor market remains an economic bright spot.
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Politics
Powell says recession 'a possibility' but not likely
Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.