Fed Chair Powell sees progress on inflation, though not quickly enough
Inflation may be cooling — just not yet fast enough for the Federal Reserve. Chair Jerome Powell offered a nuanced view Wednesday of how the Fed intends to address its core challenge at a time when inflation is both way below its peak but still well above the central bank’s 2% target: Give it more time, and maybe some help from additional interest rate hikes.
US administration argues against trial in case of Trump-era family separations at border with Mexico
Despite President Joe Biden’s loathing of his predecessor’s practice of separating migrant families at the U.S.-Mexico border, his administration argued in federal court Tuesday that a lawsuit seeking money for five affected mothers and their children should be dismissed.
Trump pleads not guilty to federal charges that he illegally kept classified documents
Donald Trump became the first former president to face a judge on federal charges as he pleaded not guilty in a Miami courtroom Tuesday to dozens of felony counts accusing him of hoarding classified documents and refusing government demands to give them back.
The Great Grift: How billions in COVID-19 relief aid was stolen or wasted
Much of the theft was brazen, even simple. Fraudsters used the Social Security numbers of dead people and federal prisoners to get unemployment checks. Cheaters collected those benefits in multiple states. And federal loan applicants weren’t cross-checked against a Treasury Department database that would have raised red flags about sketchy borrowers.
US inflation may have eased in May, but underlying price measures likely remained high
Consumer price increases in the United States likely slowed sharply last month, extending a steady easing of inflation over the past year. But a gauge of underlying prices may still reflect persistent inflation pressures.
