Treasury secretary expects rising prices to return to "normal levels" once pandemic recedes
CBSN
Treasury Secretary Janet Yellen expects increased prices at grocery stores, restaurants and elsewhere to eventually ease up once supply chain issues are resolved.
"I believe it's transitory. But I don't mean to suggest that these pressures will disappear in the next month or two," Yellen told "CBS Evening News" anchor and managing editor Norah O'Donnell on Tuesday.
The pandemic "led to a huge shift in demand away from services and toward goods. And it's created huge bottlenecks in supply chains," she said. "As the economy adjusts and we get the pandemic under control, the global economy comes back, these pressures will mitigate and, I believe, will go back to normal levels."
Giraffe populations are in trouble — and the U.S. Fish and Wildlife Service on Wednesday proposed listing three subspecies of the tall animals as endangered and two species as threatened under the Endangered Species Act.
A village in Sardinia, Italy, called Ollolai, is dangling an offer it says is for politics-weary Americans in search of a reprieve: houses for next to nothing.
President-elect Donald Trump has vowed to start the largest deportation effort in American history — his signature 2024 campaign promise — as soon as he takes office, signaling this week that he would enlist the help of the U.S. military for the massive operation to deport undocumented immigrants.
Washington — The House Ethics committee, meeting to consider the release of a report on its investigation into former Rep. Matt Gaetz, did not reach an agreement on Wednesday afternoon, the committee chairman said.
McDonald's customers may have to go elsewhere for now if they have a yen for frothy caffeinated drinks.
President-elect Donald Trump is expected to name Russ Vought to lead the Office of Management and budget, according to two sources close to the transition.
Washington — Former Republican Rep. Matt Gaetz is meeting with senators on Capitol Hill on Wednesday as he seeks to shore up support for his nomination for attorney general amid calls for the House Ethics Committee to release a report on allegations he engaged in sexual misconduct and illicit drug use.
Thanksgiving dinner ingredients will cost more this year compared with last, even as food inflation cools. Fortunately, there's one simple way to save money without skimping on staple dishes for the food-driven holiday: store brands.
A judge has convicted the man on trial for the killing of Laken Riley, a nursing student in Georgia whose death in February shook the college town where she studied, as well as the country.
No one wants to file for bankruptcy, but if you're heading in that direction, delaying the inevitable may only make things worse.
A 92-year-old man has been charged in the U.K. with the murder and rape of a woman almost six decades ago, British police said Wednesday.