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Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction
Fed Pauses Interest Rate Cuts Despite Trump's Push For Immediate Reduction The Federal Reserve kept its key interest rate in place, pausing further cuts and ignoring a demand by President Donald Trump to immediately drop rates. After three months of reductions, the Fed decided to keep the key interest rate target at 4.25 to 4.5 percent. The Fed announced the decision on Wednesday, Jan. 29, after its first meeting since President Trump returned to the White House. Chair Jerome Powell said the Fed is monitoring inflation and economic stability under the Trump administration. "We remain committed to supporting maximum employment, bringing inflation sustain…

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by Chris Spiker
Business
Record-High Egg Prices Likely To See New Increases: What To Know Record-High Egg Prices Likely To See New Increases: What To Know
Record-High Egg Prices Likely To See New Increases: What To Know Across the country, grocery shoppers are facing sticker shock and empty shelves as egg prices continue to skyrocket.  Once an affordable staple, eggs have become increasingly expension -- and sometimes, even difficult to find — and the situation is only expected to worsen. The surge in egg prices is being driven by a combination of inflation and a devastating outbreak of avian influenza, better known as bird flu. The H5N1 virus, which made its way to the United States in 2022, has infected or killed millions of birds and infected many other animals In just the last three months, more…

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by Joe Lombardi
Business
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse
Store Closings Surge To Highest Level Since Pandemic: Why 2025 Could Be Worse Retail store closures surged in 2024, reaching their highest levels since the start of the pandemic, a new study said. A total of 7,325 U.S. stores closed in 2024, driven by inflation and an increasing shift toward online shopping, according to retail data firm Coresight Research. The closings marked the steepest decline in brick-and-mortar retail since nearly 10,000 stores closed in 2020. While 5,970 stores opened—the highest yearly number since 2012—closures outpaced openings by a net loss of 1,355 stores.  "Retailers that were unable to adapt supply chains and implement t…

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by Chris Spiker
Business
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Rise In Food Prices Goes Beyond Eggs: Here’s Rundown
Rise In Food Prices Goes Beyond Eggs: Here’s Rundown Eggs are not the only food product seeing a sharp increase in prices. December grocery prices were nearly 28 percent higher than five years ago, reflecting how much harder families are finding it to manage their everyday expenses, The Wall Street Journal reports.  According to Labor Department data, grocery prices surged 1.8 percent year-over-year in December, marking the fastest increase in over a year, The trend started just after the COVID-19 pandemic began in 2019, mainly due to pandemic-related supply chain issues. According to a Trace One analysis of US Bureau of Labo…

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by Joe Lombardi
Lifestyle
Why Are Americans Dining Out Less? A Closer Look At Changing Habits Why Are Americans Dining Out Less? A Closer Look At Changing Habits
Why Are Americans Dining Out Less? A Closer Look At Changing Habits Rising costs and shifting priorities are reshaping how Americans approach dining out.  Reports reveal a notable decline in restaurant visits, particularly among middle-class families and younger generations. Here are key factor driving the decline: Rising Menu Prices: Inflation has notably driven up the cost of dining out significantly. According to Yahoo Finance’s “6 Reasons the Middle Class Can’t Afford To Dine Out Anymore,” soaring food prices have left many consumers rethinking their restaurant habits. Economic Pressures: Broader inflationary trends are squeezing househo…

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by Joe Lombardi
Business
Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots Reaches Deal To Keep Hundreds Of Stores Open
Big Lots Reaches Deal To Keep Hundreds Of Stores Open Big Lots has announced a major development following its September bankruptcy filing. The discount retail chain says it's entered a strategic agreement with Gordon Brothers Retail Partners and Variety Wholesalers to preserve the brand, save thousands of jobs, and keep hundreds of stores open. Variety Wholesalers, known for its portfolio of retail brands, plans to acquire between 200 and 400 Big Lots locations, along with up to two distribution centers. There are about 1,400 Big Lots stores nationwide. The transition ensures Big Lots can transfer key assets and maintain continuity of its br…

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by Joe Lombardi
Business
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items
Shoplifting Costs Retailers Billions: These Are Most Frequently Stolen Items Shoplifting in the US is a costly epidemic, with retailers losing over $120 billion last year. The trend focuses on easily concealed, high-demand products at major retailers like Walmart and Target, posing a nationwide challenge for store owners and law enforcement. Electronics, health and beauty products, and food items are among the most commonly stolen goods, Capital One Shopping reports.  Small gadgets such as headphones and phone chargers, alongside over-the-counter medications and cosmetics, are frequent targets.  Alcohol, baby formula, and packaged meats are also popular …

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by Joe Lombardi
Business
Big Lots To Close Three Maryland Stores Big Lots To Close Three Maryland Stores
Big Lots To Close Three Maryland Stores Discount retail chain Big Lots is planning to close dozens of stores this year, according to a filing with the Securities and Exchange Commission (SEC). The retailer, which operates more than 1,400 stores nationwide - including 27 in Maryland - is planning to shutter the doors of approximately 40 locations.  The company cited rising costs and inflation as reasons for the move, and a bankruptcy filing could reportedly be on the way. None of Virginia's 42 Big Lots stores are among those listed. In Maryland, stores in Reisterstown, Laurel, and Lexington Park are reportedly among the doz…

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by Zak Failla
Lifestyle
Maryland Motorists To See Prices At The Pump Rise When Tax Hike Takes Effect Maryland Motorists To See Prices At The Pump Rise When Tax Hike Takes Effect
Maryland Motorists To See Prices At The Pump Rise When Tax Hike Takes Effect There will be no relief at the pump for Maryland motorists as top lawmakers shot down proposals for a second gas tax holiday. With gas prices reaching record highs across the nation in recent weeks, Maryland is still planning to enact its annual gas tax on Friday, July 1, causing more consternation for drivers already feeling the financial hit in their wallets. The scheduled increase will raise the gasoline tax from approximately 36 cents per gallon to nearly 43 cents per gallon, an 18 percent increase. When the tax takes effect, motorists can expect to see rises in prices of at least sev…

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by Zak Failla
News
Pauly D Talked Inflation On Fox News And The Internet Is Having A Field Day Pauly D Talked Inflation On Fox News And The Internet Is Having A Field Day
Pauly D Talked Inflation On Fox News And The Internet Is Having A Field Day Memes are here. MTV's "Jersey Shore" star DJ Pauly D knows a thing or two about inflation: That it's getting out of hand. At least, that's what he told Fox News' Jesse Watters on a segment that aired last week, where he also shared his thoughts on when kids should be kicked off their parents' payroll, tough love and — of course — tanning. The 5-minute interview with Pauly, whose real name is Paul Delvecchio, aired in late April, but gained traction among the youth this week.  And the internet can't get enough. Ah yes, the inflation guru: DJ Pauly D. https://t.co/a3Ah6oJ4NG — Jeff Drig…

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by Cecilia Levine
News
Employees Of Large Businesses Will Get Pay Hike This Summer In Montgomery County Employees Of Large Businesses Will Get Pay Hike This Summer In Montgomery County
Employees Of Large Businesses Will Get Pay Hike This Summer In Montgomery County Employees of large businesses in one Maryland county will be getting a pay increase this summer. The minimum wage in Montgomery County will increase to $15.65 for large employers on July 1. This is part of a bill that raises the minimum wage incrementally every year on that date.  The bill was signed by County Executive Marc Elrich when he was a County Councilmember back in November 2017. He said the bill is crucial for helping low wage workers keep up with inflation.  “For too long, the minimum wage was stagnant and did not change based on inflation," Elrich said. "A decent…

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by David Cifarelli