Category Archives: Business News – ABC Audio
Can higher interest rates be good?
TIMOTHY A. CLARY/AFP via Getty Images(WASHINGTON) -- The Federal Reserve's strongest weapon in its fight against skyrocketing inflation is raising interest rates. In March, the Fed raised its target f...
Jun 20, 2022
Recession isn't 'inevitable' but inflation remains 'unacceptably high': Janet Yellen
ABC News(NEW YORK) -- A recession is not "at all inevitable" as the Federal Reserve takes increasingly aggressive action to address sharply rising inflation, Treasury Secretary Janet Yellen said Sunda...
Jun 19, 2022
Juneteenth and its implications for the economy and generational wealth
Megan Varner/Getty Images(NEW YORK) -- While June 19, 1865, is widely regarded as a day of liberation, its celebration for some simultaneously brings into question just how far that freedom goes....
Jun 18, 2022
What the interest rate hike means for homebuyers
Phillip Spears/Getty Images(NEW YORK) -- A difficult year for many homebuyers became even tougher when the Federal Reserve dramatically raised borrowing costs this week in an effort to tame sky-high i...
Jun 17, 2022
Revlon has filed for bankruptcy after 90 years in business
Daniel Acker/Bloomberg via Getty Images(NEW YORK) -- Revlon has officially filed for bankruptcy. The 90-year-old cosmetics giant announced on Thursday that the company voluntarily petitioned for reorg...
Jun 17, 2022
How to prepare for a possible recession
LilliDay/Getty Images(NEW YORK) -- A number of forces are putting pressure on the economy right now and that has Wall Street betting on a recession sometime in the next 12 to 18 months. Consumer price...
Jun 17, 2022
Pill bottles recalled over failure to meet child safety standards
REKINC1980/Getty Images(NEW YORK) -- The Consumer Product Safety Commission announced Thursday the recall of more than 407,000 over-the-counter pill bottles, citing the products do not meet the child ...
Jun 16, 2022
What interest rate hikes mean for you and the economy
Smith Collection/Gado/Getty Images(NEW YORK) -- The Federal Reserve on Wednesday dramatically escalated its fight to dial back historic inflation, raising its benchmark interest rate by 0.75%, the lar...
Jun 16, 2022
Why lowering gas prices isn't that simple
David Paul Morris/Bloomberg via Getty Images(NEW YORK) -- The pain at the pump is getting worse and has motorists asking, is there any relief in sight? The average nationwide price of a gallon of gas ...
Jun 16, 2022
Abbott halts production at troubled Michigan plant after severe weather
Matthew Hatcher/Bloomberg via Getty Images(STURGIS, Mich.) -- Less than two weeks after restarting production at its Sturgis, Michigan plant, Abbott said it has once again been forced to halt baby for...
Jun 16, 2022
