[WBALTV] Comptroller Brooke Lierman on Tax Free Week in Maryland
Comptroller Brooke Lierman joins Jen in the WBAL TV studio to talk about Tax Free Week in Maryland and what that means for your back-to-school...
[Fox News] ‘Cotton Eye Joe’ astonishingly interrupts pivotal rally between Jessica Pegula, Iga Swiatek
Jessica Pegula and Iga Swiatek were locked in the heat of battle at the National Bank Open in Canada on Saturday with the winner moving...
[NewYorkPost] Top Oversight Democrat Jamie Raskin says Hunter Biden did ‘really unlawful and wrong things’
Top Democrats on the House Oversight Committee dinged Hunter Biden on Sunday while distancing President Biden from his son's scandals. Read More
[WBALTV] He’s ‘just Ken’ but will the ‘Barbie’ movie change his popularity?
For every Ken doll sold today, there are generally eight to 10 Barbies sold, according to one toy expert. Read More
[Fox News] Christie speculates Trump could make last-minute pledge to prevent ban from first debate
Former New Jersey Gov. Chris Christie speculated that former President Donald Trump could make a last-minute decision to sign the Republican National Committee’s debate pledge...
[WBALTV] Sunday Brunch: Miss Shirley’s Cafe introduces Orioles ‘Push for the Playoff Pancakes’
Executive chef with Miss Shirley's Cafe, Zuri Coles, unveils new "Push for the Playoffs" pancakes to celebrate the Orioles, plus Vegan Month specials. Read More
[NewYorkPost] US soldier allegedly killed wife, faked distress in Facebook posts and helped her mom look for her
“He walked around for hours with me searching for my daughter knowing that she was dead,'' the victim’s distraught mother recalled of her suspect son-in-law....
[WBALTV] Meet Treble, a special 3-legged boy from BARCS ready for adoption
Noelle Patterson from BARCS brings Treble to the WBAL TV studio — a lovable three-legged boy who is ready to meet his forever family. How...
[Fox News] Olivia Dunne dating rumors swirl after latest Pirates-themed social media post
Oliva Dunne is one of the most popular collegiate athletes on social media and her rising fame has come with questions about her personal life,...
[Fox Business] Inflation forcing Americans to spend $709 more per month than 2 years ago: economist
Americans are spending $709 more per month on everyday goods and services than they did two years ago, according to Moody’s Analytics.
Moody’s chief economist Mark Zandi made the statement Friday on X, formerly known as Twitter, as part of his analysis of July’s consumer price index report. Despite the jarring increase in cost, Zandi say inflation is moderating, with just a 0.2% increase from June to July.
“To be sure, the high inflation of the past 2+ years has done lots of economic damage. Due to the high inflation, the typical household spent $202 more in a July than they did a year ago to buy the same goods and services. And they spent $709 more than they did 2 years ago,” Zandi wrote.
“But the trend lines look good, and suggest inflation is set to moderate further. Vehicle prices will decline more, so too will electricity prices, and the growth in the cost of housing will slow further. The biggest worry is the jump in oil prices, which bears close watching,” he added.
CREDIT CARD DEBT RISING IN DOUBLE-EDGED SWORD FOR THE ECONOMY
Scorching-hot inflation has created severe financial pressures for most U.S. households, which are forced to pay more for everyday necessities like food and rent. The burden is disproportionately borne by low-income Americans, whose already-stretched paychecks are heavily affected by price fluctuations.
A FED PAUSE LIKELY WON’T HELP STRUGGLING CONSUMERS
Consumers continued to see some reprieve in July. The price of used cars and trucks tumbled 1.3% over the month and are down 5.6% compared with the same time one year ago. Airline tickets also plummeted 8.1% in July, following declines in both April, May and June.
MOODY’S DOWNGRADES US BANKS, WARNS OF POSSIBLE CUTS TO MAJOR LENDERS
The data indicates that while inflation has fallen from a peak of 9.1%, it remains well above the Fed’s 2% target, despite an aggressive interest-rate hike campaign. The U.S. central bank has approved 11 rate hikes over the course of 16 months, lifting the federal funds rate to the highest level since 2001.
CLICK HERE TO READ MORE ON FOX BUSINESS
The fed could resort to further interest rate hikes later this year, but Federal Reserve Chairman Jerome Powell has not made any announcements.
Fox News’ Megan Henny contributed to this report.