U.S. Economy
U.S. to boost baby formula imports to ease nationwide shortage after Abbott Nutrition recall
Baby formula is offered for sale at a big box store on January 13, 2022 in Chicago, Illinois. Scott Olson | Getty Images The U.S. will increase baby formula imports as part of an effort to ease a nationwide shortage, senior Biden administration officials said on Thursday. The scarcity of formula was triggered in part […]
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U.S. licenses key Covid vaccine technology to WHO so other countries can develop shots
U.S. President Joe Biden delivers remarks on the authorization of the coronavirus disease (COVID-19) vaccine for kids ages 5 to 11, during a speech in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, November 3, 2021. Evelyn Hockstein | Reuters President Joe Biden on Thursday said the U.S. has […]
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WHO says omicron BA.4 and BA.5 subvariants have spread to over a dozen countries
coronavirus impact business and economy Mf3d | E+ | Getty Images Omicron subvariants BA.4 and BA.5 have been detected in more than a dozen countries, helping fuel sporadic Covid outbreaks across the world, but the heavily mutated strains are still circulating at low levels, the World Health Organization said Wednesday. Less than 700 cases of […]
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Hotter-than-expected CPI report shows broader-based inflation that will be ‘very hard to kill’
Consumer inflation rose at a hotter-than-expected 8.3% pace in April, fueled by worrisome gains across the services sector. Source
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How fast does inflation cut buying power? Here’s a simple guide
Luis Alvarez | Digitalvision | Getty Images Inflation is hovering near 40-year highs. The Consumer Price Index, a key inflation metric, increased 8.3% in April from a year ago, the largest jump since the summer of 1982, the U.S. Department of Labor said Wednesday. While a slight reduction from the 8.5% rate in March, the […]
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Senate confirms Lisa Cook as first Black woman on Federal Reserve Board
Dr. Lisa DeNell Cook, of Michigan, nominated to be a Member of the Board of Governors of the Federal Reserve System, speaks before a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022. Ken Cedeno | Reuters WASHINGTON — The Senate confirmed economist Lisa Cook on Tuesday […]
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J&J names Thibaut Mongon, current consumer health leader, as CEO of new spin-off company
Signage is displayed outside of Johnson & Johnson headquarters in New Brunswick, New Jersey, Aug. 1, 2020. Mark Kauzlarich | Bloomberg | Getty Images Johnson & Johnson on Wednesday announced that the current head and the chief financial officer of its consumer health portfolio will lead the business when it spins off into a separate […]
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Biden says White House could drop Trump China tariffs to lower consumer prices
President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the U.S. — just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump — which raised prices on […]
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U.S. gun homicides reached highest level in 25 years during Covid pandemic, CDC says
Gun homicides in the U.S. reached their highest level in more than 25 years during the Covid-19 pandemic, according to the Centers for Disease Control and Prevention. Homicides from guns rose 35% during the first year of the pandemic to the highest level since 1994, according to a CDC Morbidity and Mortality Weekly report published […]
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An Oklahoma abortion clinic was a safe haven for women fleeing Texas ban. It will shut down if Roe falls
A surgical tech and recovery room staff member, walk a patient from Texas to the recovery room following her abortion at the Trust Women clinic in Oklahoma City, U.S., December 6, 2021. Evelyn Hockstein | Reuters The Tulsa Women’s Clinic, one of four abortion providers in Oklahoma, might have to shut down completely as soon […]
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