WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that he expects recent price spikes will soon subside and reduce inflation to a sustainable level. Consumer prices jumped 5% in May compared with a year earlier, the largest increase in 13 years. But Powell said the increase mostly reflected temporary supply bottlenecks, and the…

Britain’s Queen Elizabeth, Canada’s Prime Minister Justin Trudeau and Britain’s Prime Minister Boris Johnson attend a drinks reception on the sidelines of the G7 summit, at the Eden Project in Cornwall, Britain June 11, 2021. Jack Hill/Pool via REUTERS LONDON (AP) — Imagine trying to make an impression on someone who’s met, well, almost everyone.…

CARBIS BAY, England (AP) — Leaders from the Group of Seven industrialized nations are set to commit at their summit to sharing at least 1 billion coronavirus shots with struggling countries around the world — half the doses coming from the U.S. and 100 million from the U.K. Vaccine sharing commitments from U.S. President Joe…

WASHINGTON (AP) — American consumers absorbed another surge in prices in May — a 0.6% increase over April and 5% over the past year, the biggest 12-month inflation spike since 2008. The May rise in consumer prices that the Labor Department reported Thursday reflected a range of goods and services now in growing demand as…

(Reuters) – A poverty-fighting measure included in the COVID-19 relief bill passed this year will deliver monthly payments to households including 88% of children in the United States, starting in July, Biden administration officials said on Monday. The Democratic-backed American Rescue Plan, signed into law by President Joe Biden in March as a response to…

CARBIS BAY, England (AP) — Leaders from the Group of Seven industrialized nations are set to commit at their summit to sharing at least 1 billion coronavirus shots with struggling countries around the world — half the doses coming from the U.S. and 100 million from the U.K. Vaccine sharing commitments from U.S. President Joe…

WASHINGTON (AP) — U.S. employers added a modest 559,000 jobs in May, an improvement from April’s sluggish gain but still evidence that many companies are struggling to find enough workers as the economy rapidly recovers from the pandemic recession. Last month’s job growth was above April’s revised total of 278,000, the Labor Department said Friday,…

From Russia’s cyberattacks and election interference to China‘s economic buildup and expansion in the South China Sea, both countries pose pressing challenges to the global balance of power. Earlier this year, a U.S. intelligence report identified how and why Russia and China remain America’s top two international threats. It detailed how China has become a…

Mindful of surging economic inequality during the pandemic, Senators Bernie Sanders and Elizabeth Warren proposed a new billionaire tax. But would that billionaire tax help or hurt the American economy in the long run? If you’d like to dig deeper into primary sources referenced in this report: Here’s the letter from Cal-Berkeley economists to Sen.…