
Scott Horsley
Scott Horsley is NPR's Chief Economics Correspondent. He reports on ups and downs in the national economy as well as fault lines between booming and busting communities.
Horsley spent a decade on the White House beat, covering both the Trump and Obama administrations. Before that, he was a San Diego-based business reporter for NPR, covering fast food, gasoline prices, and the California electricity crunch of 2000. He also reported from the Pentagon during the early phases of the wars in Iraq and Afghanistan.
Before joining NPR in 2001, Horsley worked for NPR Member stations in San Diego and Tampa, as well as commercial radio stations in Boston and Concord, New Hampshire. Horsley began his professional career as a production assistant for NPR's Morning Edition.
Horsley earned a bachelor's degree from Harvard University and an MBA from San Diego State University. He lives in Washington, D.C.
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Inflation in March was the highest since December of 1981, with prices up 8.5% from a year ago. Rising prices are especially hard on low-income people, who spend more of their money on necessities.
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The central bank raises its benchmark rate by a quarter percentage point in an effort to tamp down inflation. Additional rate hikes are likely in the months to come.
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Annual inflation climbed to a new four-decade high in February, with consumer prices up 7.9% from a year ago. The increase does not reflect most of the recent jump in gasoline prices.
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Consumer prices in January were up 7.5% from a year ago, the biggest annual gain since 1982. That may seem like a lot for those under 40, but older folks have lived through even sharper price hikes.
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Businesses across the country, from restaurants to retail, must decide when, not if, to raises prices and by how much.
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Consumer prices were 6.2% higher in October than a year ago as inflation continues to chip away at the buying power of households across the country.
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The Fed left interest rates near zero on Wednesday but announced plans to start removing some of the support it has provided to the economy as inflation hits its highest point in 30 years.
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The U.S. economy slowed sharply in the third quarter as the delta variant and persistent supply chain woes weighed on growth. The months ahead should be better.
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The Biden administration hopes to help fund its agenda by cracking down on tax evasion, but its plan to require more bank information is drawing strong opposition from GOP lawmakers and banks.
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The Labor Department says the U.S. added just 194,000 jobs last month, even lower than the lackluster showing in August. The unemployment rate fell to 4.8%.