Scott Horsley

The Labor Department said Friday that U.S. businesses added 390,000 jobs in May as the unemployment rate held steady at 3.6%. The unusually tight labor market is adding to inflation worries.

As parents scramble to find scarce baby formula and the government races to boost production and imports, some advocates say the U.S. should do more to encourage breastfeeding.

High inflation is weighing on the U.S. economy and raising the risk of a recession. Here's how energy and housing markets are being affected.

Americans' buying habits are changing as we move into a new phase of the pandemic. Some big retailers are having trouble keeping up, with their stocks taking a beating this week.

Just a handful of formula makers dominate the industry so a single plant shutdown can lead to empty shelves.

The FDA is taking emergency steps to increase the supply of baby formula after a plant closure led to shortages. Federal policy may have contributed to over-reliance on a handful of formula suppliers.

The Senate has confirmed Jerome Powell to serve another term as chairman of the Federal Reserve. It's a powerful job that puts Powell at the center of the fight to control inflation.

Jerome Powell was confirmed to a second term as Federal Reserve chairman. The Senate vote comes as the central bank faces intense pressure to bring down inflation.

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

The latest consumer prices report is expected to show annual inflation in April was a little lower than the month before — cold comfort to people whose paychecks don't go as far as they used to.

The Federal Reserve raised interest rates this week, in an effort to tamp down inflation. The Fed is worried in part about the tight job market, which saw another strong month of job growth in April.

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%. Stiff competition for workers is pushing up wages, which has inflation watchdogs concerned.

U.S. employers added 428,000 jobs in April, as the unemployment rate held steady at 3.6%.

The Labor Department reports on monthly job gains for April Friday morning. The month began with a record number of job openings, which is good for prospective employees.

The Federal Reserve on Wednesday raised interest rates by half a percentage point, as it escalates its fight against inflation.

The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The Fed is likely to raise interest rates by a half-percentage point Wednesday, in an effort to crack down on inflation. It's the first rate hike of that size in more than two decades.

The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.

Consumer spending grew more than expected in March, continuing to drive the economic recovery. Wages are also climbing, which could feed higher inflation.

U.S. GDP shrank in the first few months of the year, but the economy may be sturdier than it looks.