An advisory panel for the Food and Drug Administration gave a thumbs-up Wednesday to vaccines from Moderna and Pfizer for children under 5. It’s the only age group not yet eligible for vaccination against the coronavirus.
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate and signaling more large rate increases to come that could raise the risk of another recession.
Americans trimmed their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items.
The American Petroleum Institute, which represents the industry, said in a statement that capacity has been diminished as the Biden administration has sought to move away from fossil fuels as part of its climate change agenda.
The Environmental Protection Agency is warning that two nonstick and stain-resistant compounds found in drinking water pose health risks even at levels so low they cannot currently be detected.
A series of sizable increases would heighten borrowing costs for consumers and businesses, likely leading to an economic slowdown and raising the risk of a recession.
The zoo and its supporters warned that a victory in the closely watched case could open the door to more legal actions on behalf of animals, including pets, farm animals and other species in zoos.
As of Wednesday, Microsoft will no longer support the once-dominant browser that legions of web surfers loved to hate—and a few still claim to adore.
The SBA’s Office of the Inspector General has estimated that at least $80 billion distributed from the $400 billion Economic Injury Disaster Loan program could have been fraudulent, much of it in scams using stolen identities.
The producer price data captures inflation at an earlier stage of production and can sometimes signal where consumer prices are headed. It also feeds into the Federal Reserve’s preferred measure of inflation, the personal consumption expenditures price index.
This spring’s decline in casino earnings largely tracks with the nation’s soaring inflation rate and the end of various federal COVID-19 relief and economic stimulus programs aimed at shoring up the post-pandemic economy.
Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors.
The prospect that the Fed will accelerate its credit tightening, further raising borrowing costs for households and businesses, drove the stock market sharply lower Monday. The broad S&P 500 index fell into bear-market territory.
Crypto lender Celsius halted all withdrawals, citing “extreme market conditions.” It is the second collapse of a part of the crypto world in the last two months.
In a letter to leaders of the Senate and House of Representatives on Monday, the chief executives of Ford, Toyota, GM and Stellantis asked that tax credits be extended to anyone who seeks to buy a qualified vehicle.
There is little evidence that gasoline prices, which hit a record national average of $5 a gallon on Saturday, will drop anytime soon.
The agreement would offer money to states to enact and put in place “red flag” laws that make it easier to temporarily take guns from people considered potentially violent, plus funds to bolster school safety and mental health programs.
The Food and Drug Administration posted its analysis of the Pfizer shot ahead of a Wednesday meeting where outside experts will vote on whether the shots are ready for the nation’s 18 million babies, toddlers and preschoolers.
The S&P 500 sank 2.9% to lock in its ninth losing week in the last 10, and tumbling bond prices sent Treasury yields to their highest levels in years.
Consumers likely have a lot of pent-up demand after more than two years of the pandemic. But they’re also facing some significant financial headwinds because of the highest inflation in decades. And COVID-19 remains a looming presence.
