Economy

Economic anxiety grows in Los Angeles as Hollywood strikes continue

5:40pm July 28, 2023

by Robert Garrova

With the WGA strike entering it's third month and SAG-AFTRA strike heading into its third week, L.A. workers reflect on what the Hollywood stoppage means for the local economy.

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American companies report surprisingly high spending from shoppers despite inflation

4:36pm July 28, 2023

Recession? What recession? The Fed is still cautious, but big brands — Kimberly-Clark, Hilton, Visa, Chipotle, Coca-Cola — are singing praises to shoppers who seem un-swayed by their higher prices.

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Hidden fees or "junk fees" are on the rise, as companies work to bring in more money while keeping prices looking low. U.S. consumers pay more than $65 billion in fees each year.

Economy

What my $30 hamburger reveals about fees and how companies use them to jack up prices

1:55pm July 27, 2023

by Stacey Vanek Smith

New fees are being tacked onto hotel bills, airfare, restaurant checks and pretty much everywhere else. It's another form of inflation and it's costing consumers $65 billion a year.

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Mattel reported financial earnings on Wednesday. In the company's earnings call, Barbie stole the show.

Economy

Mattel tried to report financials. All anyone wanted to talk about was 'Barbie'

10:21am July 27, 2023

by Erin Kenney

Mattel reported financial earnings Wednesday. Impacts from the Barbie movie remain to be seen, but she still stole the show.

White House uses the term 'Bidenomics' to help sell the president's economic agenda

9:58pm July 26, 2023

by Asma Khalid

President Biden has low approval ratings on the economy even though voters like some key policies. The White House wants to narrow this gap with its "Bidenomics" slogan, but there are risks.

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Federal Reserve Chairman Jerome Powell attends a meeting at the Spain's Central Bank in Madrid, Spain, Thursday, June 29, 2023. In the U.S., Powell and the central bank are trying to navigate a "soft landing" for the economy.

The Fed's hot pause summer gets an ice bath: Interest rates rise again

8:36pm July 26, 2023

by Stacey Vanek Smith

After taking a pause last month, the Fed got back to raising interest rates. Many are now saying a "soft-landing" is within our sights

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Economy

The Federal Reserve is expected to raise key interest rate again on Wednesday

12:25pm July 26, 2023

The Federal Reserve is expected to raise its benchmark lending rate to the highest level in 22 years after a year of successive hikes aimed at fighting inflation.

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Fees added to bills are costing consumers billions. Now, regulators are cracking down

5:32pm July 25, 2023

by Stacey Vanek Smith

The rise of fees on hotel bills, bank bills, restaurant bills and everywhere else has regulators cracking down. Turns out, they are just inflation in disguise.

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Washington's new tax could be a solution to fund long-term care

5:12pm July 25, 2023

by Eilis O'Neill/KUOW

This month, Washington became the first state to start deducting money from workers' paychecks to fund long-term care benefits. Other states are studying similar solutions.

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UPS drivers had threatened to walk off the job unless the company provided better pay for part-time workers.

Economy

UPS union calls off strike threat after securing pay raises for workers

4:35pm July 25, 2023

by Danielle Kaye

A tentative agreement between UPS and the Teamsters has averted a potential strike at the company. The deal will secure pay raises for part-time workers.