President Biden has tapped Jerome Powell to serve a second term as chairman of the Federal Reserve as the economy faces huge challenges, including surging inflation.
The Farm Bureau's Thanksgiving report says the average cost of dinner for 10 people is $53.31. But don't cancel your meal yet: the cost for a turkey has already dropped since the survey was taken.
Presidents don't set the gas price you pay at the pump, but they're often blamed for it. And right now, high energy prices are helping send inflation to an over 30-year high.
The Fed left interest rates near zero on Wednesday but announced plans to start removing some of the support it has provided to the economy as inflation hits its highest point in 30 years.
Treasury Secretary Janet Yellen says she expects inflation pressures to ease in the latter half of next year. Yellen spoke to NPR from Scotland, where she's attending climate meetings.
The U.S. economy slowed sharply in the third quarter as the delta variant and persistent supply chain woes weighed on growth. The months ahead should be better.