The Consumer Price Index increased at the fastest pace in 40 years, a new report showed.
The enslaved people who produced sugar before the Civil War did dangerous and grueling work. The Print Collector/Getty ImagesTwenty-two-year-old Sam Watts saw the Virginia coastline vanish while he was aboard a domestic slave ship in the fall of 1831.
Stores are shortening hours, fitting rooms are being closed and some employees can’t go on break. “Morale could not be lower,” one retail worker said.
Organic milk has been a lifeline for small farms in Maine and other New England states. Now those farms are facing trouble as milk processors look to huge dairies in Western states.
Richard Clarida, the vice chair of the Federal Reserve, will leave on Friday, two weeks ahead of schedule. Updated disclosures showed rapid moves out of and back into stocks as the central bank prepared to reassure markets.
Central bankers will act to keep rapid price gains from becoming permanent, Mr. Powell, the chair of the Federal Reserve, will say during a renomination hearing.
Corrected disclosures show that Vice Chair Richard H. Clarida sold a stock fund, then swiftly repurchased it before a big Fed announcement.
Senator Elizabeth Warren, the Massachusetts Democrat, pressed the central bank to provide more information by next Monday.
The jobless rate is falling sharply and pay is jumping. That may increase the urgency as the Federal Reserve withdraws economic support.