Scott Horsley

Federal Reserve Chairman Jerome Powell talked with reporters about the central bank's latest effort to fight inflation with higher interest rates and what the Fed is likely to do next.

The Federal Reserve raised interest rates by another 0.75 percentage points Wednesday, as part of its ongoing effort to fight inflation. The big question is, what happens next.

A new report on gross domestic product shows the U.S. economy rebounded in July, August and September after six months of negative growth. But the economy still faces challenges like high inflation.

Thursday's GDP report shows the U.S. economy grew at an annual rate of 2.6% in July, August and September, after shrinking in the first half of the year.

Inflation and fears of a recession are dominating headlines in the U.S., and a series of global crises means that the economic outlook is even more precarious in some other parts of the world.

Factories have added 467,000 jobs in the last 12 months, as production jumped to its highest level since 2008. But manufacturing remains a much smaller slice of the U.S. economy than it used to be.

U.S. factories ramped up production, adding 22-thousand workers in September. Factory employment is back to pre-pandemic levels, but it's not likely to rebound to what it was in the last century.

Inflation remained high last month, with consumer prices rising 8.2% in September from a year earlier. To keep pace with inflation, Social Security recipients will get a cost-of-living adjustment.

Retirees and others who rely on Social Security will see a large boost in benefits next year. The average benefit will increase by $141 per month, to keep pace with high inflation.

Former Federal Reserve chairman Ben Bernanke was awarded the Nobel Prize in economics, along with economists Douglas Diamond and Philip Dybvig for their work on bank runs and how to prevent them.

Former Federal Reserve chairman Ben Bernanke and two academic economists — Douglas Diamond and Philip Dybvig — share this year's Nobel Prize in economics for their work on bank runs.

The Nobel panel at the Royal Swedish Academy of Sciences in Stockholm has announced the winners for the Nobel Memorial Prize in Economic Sciences are Ben Bernanke, Douglas Diamond and Philip Dybvig.

Gas prices are likely to climb higher as OPEC and Russia announce a production cut, adding fuel to the inflation fire even as the job market shows signs of cooling down.

U.S. employers added 263,000 jobs in September — a modest slowdown from August. The job market is still tight, though, as the unemployment rate dipped to 3.5%.

A new jobs report showed a modest slowdown in hiring last month that was not enough to soothe Wall Street's worries about inflation and the Fed. The unemployment rate edged down to 3.5%

OPEC and its allies plan to slash oil output by 2 million barrels a day to prop up oil prices. Gasoline prices are rising again in the U.S., but the effects vary in different parts of the country.

A new inflation report shows prices rose more than expected last month. The Federal Reserve is likely to keep raising interest rates in an effort to curb demand and bring inflation under control.

The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.

Inflation watchdogs are acting to rein in runaway prices. They're hoping to avoid a re-run of the 1970s, when inflation went unchecked for so long it became harder to get prices under control.

The number of women in the workforce has finally returned to pre-pandemic levels, which is good for the economy. But after time away from the job market some women are reassessing their priorities.