Business

Inflation cooled slightly in July even as the pace of consumer price growth from a year ago remains elevated, as the Federal Reserve considers a potential interest rate hike next month.The Bureau of Labor Statistics (BLS) said on Wednesday that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – increased 0.1% on a monthly basis and is up 3.4% […]

The Federal Aviation Administration (FAA) on Tuesday announced the deployment of a new radar at Newark Liberty International Airport that's designed to prevent incidents from occurring on busy runways.The new radar, known as the Surface Movement Radar Model 4, allows air traffic controllers to track aircraft and vehicles on runways and taxiways in all weather and visibility conditions and prevent runway incursions that could result in accidental collisions. The SMR-4 […]

President Donald Trump blasted New York City’s new pied-à-terre tax and said his administration is examining whether the federal government has legal authority to intervene, escalating a fight over a surcharge targeting luxury second homes.Trump argued in a Truth Social post Tuesday that the tax could ultimately cost New York more than it raises by encouraging wealthy property owners and taxpayers to leave for lower-tax states such as Florida and […]

Cleveland Federal Reserve President Beth Hammack on Monday said that she thinks there will be a need for more than one interest rate hike to prevent inflation from becoming more entrenched across the economy.Hammack made the comments in an interview with Yahoo Finance that followed her dissent from the Fed's decision to leave interest rates unchanged. She and two other members of the central bank's monetary policy panel voted in […]

The federal budget deficit is now expected to surpass $2 trillion this fiscal year, which would be one of the largest shortfalls on record as spending growth continues to outpace tax receipts.The nonpartisan Congressional Budget Office (CBO) on Monday released its monthly budget update for July, which showed the federal government ran a nearly $1.8 trillion deficit through the first 10 months of fiscal year 2026, which runs through the […]

Chrysler is recalling nearly 50,000 vehicles over a seat belt defect that could increase the risk of injury in a crash, according to federal regulators.The recall affects certain 2023-2025 Dodge Hornet and 2023-2026 Alfa Romeo Tonale vehicles, according to the National Highway Traffic Safety Administration (NHTSA).A total of 48,777 vehicles are covered by the recall, the NHTSA said in its announcement, noting that an estimated 1.6% have the defect.CHRYSLER RECALLS 1.27M […]