Economy

High gas prices are hurting small businesses that need big vehicles

4:40pm June 22, 2022

by David Schaper

The high pump prices are hurting small businesses, like landscapers, plumbers and carpet cleaners who often rely on gas guzzling vehicles to serve their customers.

President Biden pitched a three-month break on the federal fuel tax to help American drivers face the highest inflation in four decades, but critics said the proposal is unlikely to work.

Biden wants a gas tax holiday. Some economists say that's a bad idea

3:17pm June 22, 2022

by Franco Ordoñez

Biden wants Congress to give people a break on the federal gas tax for the summer. But economists say that won't translate into big savings at the pump — and could hurt efforts to curb inflation.

Marilynn Malerba stands next to a photograph of late Chief Ralph Sturges at tribal offices in Uncasville, Conn., on March 4, 2010. On Wednesday, President Biden announced his intent to appoint her U.S. treasurer in a historic first.

Marilynn Malerba could soon be the first Native American to serve as U.S. treasurer

2:43pm June 22, 2022

by Rachel Treisman

Malerba, the lifetime chief of the Mohegan Indian Tribe, would be the first Native woman to have her signature on U.S. currency. She'd also lead the Treasury's new Office of Tribal and Native Affairs.

Jerome Powell, Chairman, Board of Governors of the Federal Reserve System testifies before the Senate Banking, Housing, and Urban Affairs Committee on June 22, 2022 in Washington, DC.

Powell says recession 'a possibility' but not likely

2:23pm June 22, 2022

by Scott Horsley

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

Economy

Federal Reserve Chair Jerome Powell will testify before 2 congressional panels

7:44am June 22, 2022

NPR's Leila Fadel talks to Stephen Cecchetti, professor of international finance at Brandeis University, for a preview of Powell's testimony which follows the Fed's biggest rate hike since 1994.

News brief: gun legislation, Powell on Capitol Hill, 4th House Jan. 6 hearing

6:14am June 22, 2022

Senators reach a bipartisan deal on a gun safety bill. Fed chairman will testify before two congressional panels this week. Jan. 6 hearing shows how Trump pressured state officials on election tally.

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Economy

Fed chairman will testify before a pair of Congressional committees this week

5:04am June 22, 2022

Federal Reserve Chairman Powell answers questions from a Senate committee Wednesday. He's sure to be asked about inflation and possible fallout from the Fed's efforts to bring prices under control.

An entrance to Waterloo underground station stands shuttered closed for strike action in Waterloo railway station, in London, Tuesday, June 21, 2022.

Economy

U.K. inflation rate hits a new 40-year high of 9.1%

4:19am June 22, 2022

by The Associated Press

The increase is in line with analysts' expectations and comes as the Bank of England says inflation could hit 11% in October, when a cap on domestic energy bills is lifted.

Despite what the internet may think, this 7-Eleven in Chicago is not selling gas for $7.11.

No, this 7-Eleven isn't charging $7.11 for gas, even if the internet says so

8:20pm June 21, 2022

by Fernando Alfonso III

A viral image of a 7-Eleven charging $7.11 was taken in 2021, and doesn't reflect the current state of gas prices in the U.S.

Around 35,000 Californians are waiting for their wage theft claims to be investigated

5:10pm June 21, 2022

by Farida Jhabvala Romero / KQED

More than 35,000 Californians who say their employers cheated them out of pay could wait a long time for justice. The state agency tasked with investigating their cases is backlogged and underfunded.

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