Scott Horsley

President Biden's plan to forgive hundreds of billions of dollars in student debt will help millions – but it's also raising concerns about inflation, economic fairness and college tuition costs.

The chairman of the Federal Reserve surprised the stock market when he said the central bank would continue raising interest rates. The remarks also mean more pain for home buyers and other borrowers.

Federal Reserve chairman Jerome Powell pledged that he and his colleagues will keep raising interest rates until they're confident that inflation is under control.

The Fed's chair comments signal the central bank is determined to continue raising interest rates to bring down inflation.

Federal Reserve chairman Jerome Powell speaks Friday morning in Jackson Hole, Wyoming. Powell hopes to curb inflation without pushing the economy into recession.

President Biden's plan to erase up to $20,000 in college debt for tens of millions of borrowers is drawing praise and criticism. Some welcome relief, but others say he should address tuition costs.

From Walmart to the neighborhood supermarket, retailers across the country are having to adjust as Americans watch their pennies in the face of high inflation.

Rising prices at the grocery store and elsewhere are putting a strain on family budgets. Retailers are making adjustments, offering smaller package sizes and more discount options.

As retail prices continue to climb, customers are adjusting their shopping habits. Meanwhile retail giants like Walmart are tweaking their merchandise mix in response to customers' shifting demands.

The big climate and health care bill passed by the House Friday includes billions in new funding for the IRS over the next decade. Most of that money is aimed at catching wealthy tax cheats.

Falling gasoline prices put a dent in the July inflation rate, which fell to 8.5% from 9.1% in June. But other costs such as housing continue to climb, putting a strain on many family budgets.

Falling gasoline prices are expected to put a dent in the latest inflation rate. But other costs, such as housing, continue to climb, putting a strain on many family budgets.

The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.

U.S. employers added more than half a million jobs in July: more than twice as many as forecasters had expected. The unemployment rate fell to just 3.5%, matching the level before the COVID pandemic.

U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.

Gasoline prices have fallen sharply and are now below $4 a gallon in many parts of the country. But analysts warn that prices could tick up again if drivers set aside their newfound gas-saving habits.

This week, the Federal Reserve will again decide whether and how much to raise interest rates to try to bring inflation under control.

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

Anyone looking to buy or sell a home is suddenly facing a very different market. Sales have dropped and once-hot markets are cooling. Home builders have noticed and are rethinking construction plans.

Ayesha Rascoe and Scott Horsley speak with economist Austan Goolsbee about what's driving inflation and why so many economic forecasts have been wrong.