Scott Horsley

This year's Nobel Prize for economics was awarded to two Americans, for their work on ways to limit booms and busts in the business cycle.

Higher energy prices, tied to the U.S. war with Iran, are driving up the overall cost-of-living. The Labor Department is set to deliver its latest inflation report this morning.

Nights are getting colder, but inflation is heating up. A r eport from the Labor Department Wednesday showed consumer prices in September were up 3.7% from a year ago.

Higher energy prices, tied to the U.S. war with Iran, are driving up the overall cost-of-living. The Labor Department is set to deliver its latest inflation report this morning.

Consumer prices in September jumped 3.7% from a year ago. The Social Security Administration said benefits will increase next year to help keep pace with the rising cost of living.

The federal deficit for the fiscal year that just ended was nearly $2 trillion. That's the biggest budget gap since 2021, when the country was still recovering from the pandemic.

The federal deficit for the fiscal year that just ended was nearly $2 trillion. That's the biggest budget gap since 2021, when the country was still recovering from the pandemic.

The Federal Reserve is expected to hold its benchmark interest rate steady Wednesday. But investors think a rate hike in December is likely, as the central bank tries to tamp down inflation.

The Federal Reserve is expected to hold its benchmark interest rate steady Wednesday. But investors think a rate hike in December is likely, as the central bank tries to tamp down inflation.

The Federal Reserve opted to leave its benchmark interest rate unchanged — but investors widely expect the central bank to raise rates at its next meeting in December to combat stubborn inflation.