Federal Reserve Bank of Richmond President Thomas Barkin recently expressed concerns about rising inflation in the United States, indicating that the central bank may need to raise interest rates to a higher level than previously anticipated. With inflation continuing to run too fast for comfort, Barkin believes that the Federal Reserve may need to take…
Inflation Moderates in the US but Remains Elevated. The latest report from the Labor Department shows that US inflation moderated in January, but it still remains at historic highs. The consumer-price index (CPI), a closely watched measure of inflation, climbed 6.4% in January from a year earlier, down from 6.5% in December. This marked the…
The global pandemic has disrupted the automotive industry in numerous ways, and one of the most significant consequences is the skyrocketing prices of new cars. This has become a distant dream for the typical American family, as the average monthly payment for a new car has soared to a record $777, which is almost a…