High gas prices are intensifying inflation and vacuuming up more of Americans' dollars, yet consumers are still digging deep to spend, powering the economy, at least for now
Wholesale inflation rose more than expected last month on a big jump in fuel costs as rising prices become a bigger economic challenge for millions of Americans, and a growing political problem for Republicans in the upcoming midterm elections.
Federal Reserve governor Lisa Cook's lawyers say that a committee set up by the White House last week to investigate an accusation against her is "demonstrably biased," though they did not close the door on the possibility that she would appear before the panel.
Gas, clothes, and air fares got more expensive, evidence that rising prices remain an economic challenge just a few weeks before the midterm elections that have focused heavily on issues related to affordability.