Economy

Economy

The Federal Reserve Says Higher Prices Will Be Temporary

9:34am July 17, 2021

Scott Simon talks with Neel Kashkari, president of the Federal Reserve Bank of Minneapolis about inflation, the government response, and the economy's state in the district he oversees.

Children and teachers from the KU Kids Deanwood child care center in Washington, D.C., complete a mural in celebration of the launch of the child tax credit.

The Expanded Child Tax Credit Is Here. Here's What You Need To Know

6:04pm July 15, 2021

by Andrea Hsu

The first monthly payments under the expanded child tax credit were disbursed on Thursday. The White House says relief is on the way to the families of nearly 60 million children.

The Way The Government Measures Inflation Is More Hands-On Than You Probably Expect

4:21pm July 15, 2021

The latest Consumer Price Index showed prices were up 5.4% compared to a year ago. But how exactly does the government track this number?

Treasury Secretary Janet Yellen, pictured on Capitol Hill last month, called for a permanent expansion of the child tax credit during an interview with NPR on Thursday.

Families Are Receiving A Child Tax Credit. Janet Yellen Says It Should Be Permanent

4:15pm July 15, 2021

In an interview with NPR, the Treasury secretary calls to permanently expand the child tax credit being paid out to American families starting this week.

Economy

The First Monthly Payments Under The Expanded Child Tax Credit Are Arriving

5:32am July 15, 2021

by Andrea Hsu

The first payments have gone out to parents. Tens of millions of families will receive up to $300 per child. The tax credit is part of the stimulus package that Democrats passed in March.

A new study says on average someone would have to earn $24.90 per hour to rent a modest two-bedroom home on no more than 30% of their pay. That's far more than the federal minimum wage.

Rents Are Out Of Reach For Most Americans Earning Minimum Wage, A Study Says

10:42pm July 14, 2021

by Vanessa Romo

Workers simply don't earn enough money to keep up with skyrocketing rental rates across the country, the National Low Income Housing Coalition found in its latest Out of Reach report.

Fed Chair Powell Says Recent Spike In Prices Is Temporary

4:28pm July 14, 2021

by Scott Horsley

Federal Reserve Chairman Jerome Powell is testifying on the economy before a House panel a day after a key inflation gauge hit a nearly 13-year high.

Jameson Rybak, son of Jim and Suzanne Rybak of Florence, S.C., struggled with opioid addiction and died of an overdose on June 9, 2020 — three months after he left a hospital ER because he feared he couldn't afford treatment.

A Tragic Death Shows How ERs Fail Patients Who Struggle With Addiction

11:00am July 14, 2021

by Aneri Pattani

ER doctors wanted to hospitalize the young man to help ease his withdrawal from opioid dependence. But he declined because he couldn't afford it. His mom says no one told him he had financial options.

Economy

The Inflation Rate Is Now The Highest It's Been Since 2008

6:14am July 14, 2021

by Scott Horsley

Federal Reserve Chairman Jerome Powell is the nation's top inflation watchdog. When he testifies before Congress Wednesday, Powell is sure to be asked about the recent spike in consumer prices.

Inflation Is The Highest Its Been In Nearly 13 Years

5:13pm July 13, 2021

by Scott Horsley

Consumer prices jumped in June, with businesses struggling to keep up with demand out of the pandemic. The consumer price index rose 5.4% in the last year, the highest inflation in nearly 13 years.