Scott Horsley

Cost-conscious consumers are getting some relief at the gas pump. After hitting record highs, gas prices have fallen by nearly 25 cents a gallon. But it may be too late to save many summer road trips.

In a new book, pilot and author of Skyfaring Mark Vanhoenacker takes readers to far-flung cities he once dreamed about during his childhood in western Massachusetts.

The chairman of the Federal Reserve acknowledges combating inflation with higher interest rates could lead to a recession. He argues a bigger risk would be to let high inflation become entrenched.

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

Federal Reserve Chairman Powell answers questions from a Senate committee Wednesday. He's sure to be asked about inflation and possible fallout from the Fed's efforts to bring prices under control.

The Federal Reserve raised interest rates by three-quarters of a percentage point Wednesday in an effort to combat stubbornly high inflation. It's the biggest rate increase in 28 years.

The Federal Reserve wants to control inflation, and its number-one weapon is higher interest rates. The Fed is expected to announce another sharp jump in borrowing costs on Wednesday.

The rising price of gasoline, groceries and rent has pushed inflation to its highest level in more than four decades. Prices rose even more than expected in May.

Consumers are watching their pennies at the gas station and grocery store as consumer prices surged 8.6% in May, pushing the annual inflation rate to its highest in over 40 years.

NPR's Scott Horsley reports on criticism directed at Treasury Secretary Janet Yellen over the highest inflation rates in over 40 years.

Authorities say baby formula is likely to remain in short supply for some time to come. Factories have boosted their production and additional formula is being shipped in from other countries.

U.S. employers added 390,000 jobs in May — good news for the White House, which is trying to show it's hard at work to bring down inflation. Price increases are still outpacing people's paychecks.

U.S. employers added 390,000 jobs in May as the labor market stays hot. The unemployment rate held steady at 3.6%.

The Labor Department said Friday that U.S. businesses added 390,000 jobs in May as the unemployment rate held steady at 3.6%. The unusually tight labor market is adding to inflation worries.

As parents scramble to find scarce baby formula and the government races to boost production and imports, some advocates say the U.S. should do more to encourage breastfeeding.

High inflation is weighing on the U.S. economy and raising the risk of a recession. Here's how energy and housing markets are being affected.

Americans' buying habits are changing as we move into a new phase of the pandemic. Some big retailers are having trouble keeping up, with their stocks taking a beating this week.

Just a handful of formula makers dominate the industry so a single plant shutdown can lead to empty shelves.

The FDA is taking emergency steps to increase the supply of baby formula after a plant closure led to shortages. Federal policy may have contributed to over-reliance on a handful of formula suppliers.

The Senate has confirmed Jerome Powell to serve another term as chairman of the Federal Reserve. It's a powerful job that puts Powell at the center of the fight to control inflation.