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Inflation

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WASHINGTON (AP) — President Joe Biden tried to reassure Americans on Wednesday that he can tame high inflation, announcing a deal to expand operations at the Port of Los Angeles as prices keep climbing and container ships wait to dock in a traffic jam threatening the U.S. economy and holiday shopping.

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WASHINGTON (AP) — Federal Reserve officials agreed at their last meeting that if the economy continued to improve, they could start reducing their monthly bond purchases as soon as next month and bring them to an end by the middle of 2022.

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WASHINGTON (AP) — Millions of retirees on Social Security will get a 5.9% boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic.

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WASHINGTON (AP) — Rising inflation has triggered a sizable increase in Social Security's annual cost-of-living adjustment, or COLA, for 2022. The Social Security Administration announced the 5.9% COLA on Wednesday after a Labor Department report on inflation during September.

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WASHINGTON (AP) — Rising inflation is expected to lead to a sizeable increase in Social Security's annual cost-of-living adjustment, or COLA, for 2022. Exactly how much will be revealed Wednesday morning after a Labor Department report on inflation during September, a data point used in the final calculation.

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WASHINGTON (AP) — The International Monetary Fund is slightly downgrading its outlook for the global recovery from the pandemic recession, reflecting the persistence of supply chain disruptions in industrialized countries and deadly disparities in vaccination rates between rich and poor nations.

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WARSAW, Poland (AP) — Poland's central bank unexpectedly raised interest rates on Wednesday as the central European nation faces an accelerating inflation rate that is currently the highest in the European Union.

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