Dollar surges to 2-decade high as investors seek refuge
Rising inflation that has caused the biggest jump in prices in 40 years has spurred the Federal Reserve to aggressively raise interest rates, which increases demand for U.S. dollars.
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FAA offers help for snarled Florida summer air travel
Air traffic to Florida picked up more quickly during the pandemic than many other places, and airlines have scheduled even more flights for this summer. That is raising concern about the potential for massive disruptions that could ripple far beyond the state’s borders.
Here’s how higher Fed rates stand to affect Americans’ finances
Economists and investors foresee the fastest pace of Federal Reserve rate increases since 1989. The result could be much higher borrowing costs for households well into the future.
Fed raises key rate by half-point in bid to tame inflation
The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday—its most aggressive move since 2000—and signaling further large rate hikes to come.
Intuit to pay $141M settlement over TurboTax ads touting free tax filing
Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay restitution to nearly 4.4 million taxpayers.
Indiana GOP lawmakers hold off many—but not all—hard-right challengers
The roughly two dozen so-called liberty candidates did see some victories in Republican legislative races across the state, with one defeating a 10-term incumbent in northern Indiana and another winning the nomination for a GOP-leaning open seat in suburban Indianapolis.
Author JD Vance wins Ohio’s contentious GOP Senate primary
Vance’s win brings to a close an exceptionally bitter and expensive primary contest that, at one point, saw two candidates nearly come to blows on a debate stage. And it marks a major victory for Donald Trump, who gave late support to Vance.
Houchin wins crowded GOP primary for southern Indiana congressional seat
Former state Sen. Erin Houchin emerged Tuesday from a nine-candidate Republican field for the 9th Congressional District seat that opened up when current GOP Rep. Trey Hollingsworth unexpectedly announced in January he wouldn’t seek reelection after three terms.
U.S. employers post record employment openings, job quits
Employers posted 11.5 million job openings in March, more evidence of a tight labor market that has emboldened millions of American workers to seek better paying jobs and contributed to the biggest surge in inflation in four decades.
Report: Draft opinion suggests high court could overturn Roe
The draft opinion in effect states there is no constitutional right to abortion services and would allow individual states to more heavily regulate or outright ban the procedure.
U.S. energy chief touts $3B plan to boost EV batteries
U.S. Energy Secretary Jennifer Granholm said the new program will offer grants to companies that process or recycle battery components to increase domestic supplies of a market now dominated by China and other countries.
Sneakers, elastic pants: People alter office wear amid COVID
After working remotely in sweats and yoga pants for two years, many Americans are rethinking their wardrobes to balance comfort and professionalism as offices reopen.
U.S. pediatricians’ group moves to abandon race-based guidance
In a new policy announced Monday, the American Academy of Pediatrics said it is putting all its guidance under the microscope to eliminate “race-based” medicine and resulting health disparities.
Hundreds of urban areas to become rural under new criteria
Under the new Census Bureau criteria, more than 1,300 small cities, towns and villages designated urban a decade ago would be considered rural. That matters because urban and rural areas qualify for different types of federal funding.
Challengers try to push Indiana’s dominant GOP more to the right
While it’s unclear if the challengers can defeat incumbents backed by Republican leaders’ multimillion-dollar campaign fund, they say they are tapping into a deep resentment among voters—and even winning a few seats could nudge the Legislature further to the right.
Key inflation gauge jumped 6.6% in March, most since 1982
Yet, there were signs in Friday’s report from the Commerce Department that inflation might be slowing from its galloping pace and perhaps nearing a peak, at least for now.
Top Democrats push for federal crackdown on high gas prices
Citing growing worries about high gasoline prices, Democratic leaders announced an effort Thursday to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.
Amazon reports rare quarterly loss as online shopping slows
Amazon prospered during the COVID-19 pandemic as homebound people eager to limit human contact turned online to purchase what they need. But growth has slowed as vaccinated Americans feel more comfortable going out.
Biden taking ‘hard look’ at student loan forgiveness
White House press secretary Jen Psaki said Thursday that President Joe Biden was still considering whether to tie debt relief to borrowers’ income levels, an idea he’s floated in the past. She said it’s “certainly something he would be looking at.”
Most Americans could file their taxes for free, but don’t
The GAO report, issued Thursday, found that while 70% of taxpayers were eligible for the Internal Revenue Service’s free-filing program, only 3% of taxpayers actually use the service.