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Category: Business

US producer prices drop 0.3% from May to June on lower energy prices, but outlook is cloudy

US producer prices drop 0.3% from May to June on lower energy prices, but outlook is cloudy

WASHINGTON — U.S. wholesale inflation fell from May to June on plunging energy prices, but intensifying hostilities with Iran are clouding the outlook. The Labor Department reported Wednesday that its producer price index — which captures inflation before it reaches consumers — dropped 0.3% from May, biggest decline since April 2025 and a reversal from […]
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Bipartisan group of senators introducing legislation to avert looming Social Security shortfall

Bipartisan group of senators introducing legislation to avert looming Social Security shortfall

WASHINGTON — With Social Security’s looming insolvency date roughly six years away, a bipartisan group of lawmakers is announcing plans to introduce a proposal to grapple with one of the most consequential financial challenges facing the federal government. The Protecting Retirement Opportunities and Maintaining Income Security for Everyone, or PROMISE Act, being unveiled Tuesday, comes […]
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