September CPI Hits 3.7% as Stocks Post Their Worst Day Since July
Gasoline drove more than half the monthly jump. Markets sold off, and both parties are already arguing over who owns the inflation problem three weeks before Election Day.
Economy
Marcus Bell
Marcus Bell leads Radio Purple's economic coverage. Before joining, he covered markets and the Federal Reserve for a business wire and reported on manufacturing towns across the Midwest. He translates jobs reports, inflation data and interest-rate decisions into what they mean for paychecks, mortgages and small businesses, presenting the market-oriented and worker-oriented readings of the same numbers side by side. Marcus holds a master's in economics and coaches youth basketball.
News
Record Diesel Prices Hit Farmers and Truckers. The White House Responds With Tax Relief, but the Refinery Shortage Remains.
An executive order defers federal diesel excise taxes and loosens dyed-diesel rules through Dec. 31. Economists say the core problem is lost refining capacity.
Under Warsh, the Fed Raises Rates for the First Time Since 2023. Both Parties Read It as a Verdict on the Economy.
A unanimous quarter-point hike aims to keep an energy shock from spreading into everyday prices. Democrats blame the president's policies. The president calls the Fed political.