Hope Yen

Latest in Economics
A display in the Westfield Garden State Plaza shopping mall, Paramus, New Jersey, December 17, 2022.
Inflation Falls for 6th Consecutive Month
January 13, 2023
A sales associate helps a prospective customer as laptops sit on display in a Costco warehouse, Aug. 15, 2022, in Sheridn, Colo. Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food take a toll on household budgets. The U.S. retail sales rose an unexpected 0.3% last month, from being down 0.4% in July, the Commerce Department said Thursday., Sept. 15, 2022.
Retail Sales Flat in September as Inflation Takes a Bite
October 14, 2022
Shoppers shop at a grocery store in Glenview, Ill., Monday, July 4, 2022. Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August, after it fell 0.2% in July, the Commerce Department said Friday Sept. 30.
Resilient U.S. Consumers Spend Slightly More in August
October 3, 2022
Fresh seafood is shown for sale at a grocery store, Wednesday, July 27, 2022, in Surfside, Fla. Inflation at the wholesale level jumped 8.7% in August from a year earlier, a slowdown from July yet still a painfully high level that suggests prices will keep spiking for months to come.
U.S. Wholesale Inflation Declines
September 14, 2022
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The headquarters of German software maker SAP in Walldorf near Heidelberg in this Nov. 5, 2003 file photo.
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SAP to Cut Up to 3,000 Jobs Worldwide
An employee works in the battery assembly hall at the BMW Spartanburg plant in Greer, S.C., Wednesday, October 19, 2022. On Thursday, the Commerce Department issues its first of three estimates of how the U.S. economy performed in the fourth quarter of 2022.
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U.S. Economy Slowed but Still Grew at 2.9% Rate Last Quarter
Shoppers carry shopping bags down Fifth Avenue, Monday, Dec. 19, 2022, in New York. After a two-year hiatus, holiday procrastinators are back this year, during a holiday season when retailers need them even more. Shoppers have been pulling back on buying and waiting for the best deals as inflation weighs on their shopping habits.
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Holiday Procrastinators Are Back in Force. Blame Inflation.
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Gas Price Hikes Fueling Electric Vehicle Conspiracy Theories
The electric vehicle appears to be the latest reiteration of baseless conspiracy theories.
March 10, 2022
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Public Transit Gets $3.7B to Woo Riders, Adopt Green Fleets
The effort comes at a challenging time for public transit.
March 7, 2022
Transportation Secretary Pete Buttigieg speaks to the media during a visit to the Georgia Ports Authority's Megarail facility, on Dec., 17, 2021 in Savannah, Ga. Clogged U.S. ports are being given access to nearly $450 million in federal money from President Joe Biden's new infrastructure law, part of the administration's recent stepped-up efforts to ease supply chain congestion and lower prices for American consumers.
Supply Chain
U.S. Ports to Receive $450M from Infrastructure Funds to Ease Congestion
The grants are aimed specifically at reducing bottlenecks.
February 23, 2022
The Biden administration is launching its long-awaited plan Feb. 10, 2022, to build out a network of 500,000 electric vehicle charging stations, pledging $5 billion to states that focus first on stops along interstate highways that could spur a new era of zero-emission travel coast to coast.
Automotive
States Get Go-Ahead to Build Electric Car Charging Stations
Construction could begin by this fall.
February 10, 2022
U.S. Transportation Secretary Pete Buttigieg speaks to the media during a visit to the Georgia Ports Authority's Megarail facility, Friday, Dec., 17, 2021 in Savannah, Ga. Buttigieg used the visit to highlight the coordination with the his department and the Georgia Ports Authority to improve its cargo flow.
Supply Chain
Buttigieg Doles Out $241M to U.S. Ports to Boost Supply Chain
The transportation money is being made available immediately to 25 projects in 19 states.
December 23, 2021
Car Crash I Stock 1222256339
Automotive
U.S. Cites 'Crisis' as Road Deaths Rise 18% in First-Half of 2021
It was the biggest six-month increase since the department began recording fatal crash data in 1975.
October 29, 2021
Senate Majority Leader Chuck Schumer, D-N.Y., addresses the urgent need to counter climate change in the US with transformational investments in clean jobs, during an event at the Capitol in Washington, Wednesday, July 28, 2021.
Automotive
Climate Bid Faces Tricky Path Over Money for Electric Cars
New legislation provides $7.5 billion to build a national network of charging outlets.
July 30, 2021
Construction project manager Gabrielle Ferro, second right, speaks with U.S. Secretary of Transportation Pete Buttigieg, during a tour of an underground tunnel for the expansion of the Hartsfield–Jackson Atlanta International Airport plane train tunnel at the Hartsfield–Jackson Atlanta International Airport on Friday, May 21 in Atlanta.
Economics
White House Gives GOP June 7 Deadline for Infrastructure Deal
As of Sunday, the two sides remained far apart.
June 1, 2021
In this May 20, 2020, file photo, Sen. Tom Carper, D-Del., speaks as the Senate Homeland Security and Governmental Affairs committee meets on Capitol Hill in Washington. Sen. Carper is urging U.S. anti-pollution standards that would follow a deal brokered by California with five automakers and then set targets to end sales of new gas-powered vehicles by 2035. In a letter sent late Thursday, April 29, 2021, to the Environmental Protection Agency, Carper says the administration must move forcefully in the auto sector to achieve Biden’s plan of slashing America’s greenhouse gas emissions in half by 2030.
Laws & Regulations
Senator Pushes for More Forceful Auto Regulations
He says the administration must be more aggressive with the auto sector to achieve President Biden’s plan of slashing emissions.
April 30, 2021
House Speaker Nancy Pelosi of Calif., walks from the House floor, during the vote on the Democrat's $1.9 trillion COVID-19 relief bill, on Capitol Hill on March 10 in Washington.
Economics
Pelosi Pledges Swift Work on Infrastructure Package
President Biden proposed $2 trillion in clean energy, public transit, and road and bridge projects during the campaign.
March 15, 2021
Infra Ap21058017639861
Economics
U.S. Infrastructure Gets C- Grade
The American Society of Civil Engineers sees a $2.6T gap in infrastructure spending.
March 3, 2021
In this April 16, 2020 photo, work continues on a bridge on the Interstate Highway 75 project in Troy, MI.
Economics
Beyond Virus Relief, Biden Team Prepares Wider Economic Package
Biden and his team have begun discussions on the possible outlines of an infrastructure package with members of Congress.
March 1, 2021
In this file photo, Transportation Secretary nominee Pete Buttigieg speaks during a Senate Commerce, Science and Transportation Committee confirmation hearing on Capitol Hill in Washington.
Laws & Regulations
Senate Confirms Buttigieg as Transportation Secretary
He is expected to play an important role in overseeing stronger fuel economy standards, as well as the president's push for a $2 trillion infrastructure plan.
February 3, 2021
In this Dec. 16, 2020, file photo President-elect Joe Biden's nominee for Transportation Secretary former South Bend, Ind. Mayor Pete Buttigieg, President-elect speaks during a news conference at The Queen theater in Wilmington, Del.
Automotive
Buttigieg Aims for Infrastructure Overhaul
The nominee calls it a "generational opportunity" to create new jobs, fight economic inequality and stem climate change.
January 21, 2021