>>Federal Reserve Chairman: Inflation Still Too High
(New York, NY) -- The head of the Federal Reserve says inflation is still too high and lower economic growth is probably needed to bring it down. Speaking at the Economic Club of New York, Jerome Powell said the slowing of prices was not enough to determine a trend. Powell said it's unclear how long these lower readings will persist or where inflation will settle in the coming months. He hinted at a need for the labor market and economic growth to slow to achieve the Fed's goal of reaching two-percent inflation.
>>UAW Strike Rolls On
(Sterling Heights, MI) -- The well-over-month-long United Auto Workers strike rolls on as Ford Motor Company announces more layoffs. The automaker says an additional 150 workers have been temporarily laid off. There has been little reported progress in negotiations with the Big Three automakers. Supplies of some of the most popular vehicle models are starting to shrink as the strike rolls on. >>Job Cuts Hit Google News (Mountain View, CA) -- Google is cutting dozens of jobs in its News division. At least 40 employees are receiving pink slips this week. Google has been downsizing across all divisions in recent months in a company-wide adjustment to slowing growth and global economic uncertainty.
>>Fortress Safe Recalls 60-Thousand Gun Safes After Teen Shooting Death
(Washington, DC) -- Fortress Safe is recalling over 60-thousand gun safes after the shooting death of a 12-year-old boy. The US Consumer Product Safety Commission said in a statement that the biometric lock on the safes "can be opened by unauthorized users, posing a serious injury hazard and risk of death." It said users may think they set the lock function, but instead it defaults to open mode. The agency cites a lawsuit that says the boy died from a firearm that was retrieved from one of the safes. It also pointed to 39 incidents of users saying their safes were accessed by fingerprints not paired with it.
>>Pfizer Ups Cost Of Paxlovid As US Ends Pandemic Emergency Phase
(New York, NY) -- Pfizer is upping the cost of its COVID-19 medication Paxlovid by more than double what it was. As the U.S. transitions out of the pandemic's emergency phase, the drugmaker is changing the list price of the drug before insurance to nearly 14-hundred dollars for a five-day course, according to the Wall Street Journal. That's up from 530-dollars-per-course, which was paid by the US government to provide Paxlovid free to patients. Pfizer said it would offer assistance for copays for those who qualify.
>>In-N-Out Burger Celebrating 75 Years This Weekend
(San Diego, CA) -- In-N-Out Burger is celebrating 75 years this weekend. The Southern California based chain was founded in 1948 and is still family owned with more than 300 locations. The company announced plans to expand eastward, to Tennessee in 2026.
