Money

By Matt Egan Red-hot inflation is raising pressure on the Federal Reserve to take drastic action to get control of prices. James Bullard, the president of the St. Louis Federal Reserve Bank, told Bloomberg News Thursday he has become “dramatically” more hawkish and now supports raising interest rates by a full percentage point by July

By Anna Bahney, CNN Business Home prices rose by double-digit percentages in two-thirds of the largest US cities at the end of last year, but that was a slowdown from earlier in 2021. Of 183 metro areas tracked, 67% saw double-digit growth in median home prices during the fourth quarter, down from 78% in the

By Danielle Wiener-Bronner, CNN Business The tide could be turning on consumers’ willingness to pay higher prices, Coca-Cola CEO James Quincey warned Thursday. Consumer goods companies have been steadily hiking prices as their own production costs rise, and so far, shoppers seem to be accepting the increases. Executives at McDonald’s, Chipotle and elsewhere have recently

By Parija Kavilanz, CNN Business Adidas will soon debut a new sports bra line, but one of its ads doesn’t show the bra at all. Instead, Adidas tweeted a photo grid of 25 pairs of bare breasts in all their natural, diverse glory. The sports apparel company pinned the ad to its Twitter page Wednesday,

By Frank Pallotta, CNN Business Welcome back to Jurassic World. Universal Pictures debuted the new trailer for “Jurassic World Dominion” — one of the most highly anticipated films of 2022 — on Thursday. The first look featured everything you would expect from a “Jurassic World” movie: dinosaurs running wild, Chris Pratt on a motorcycle chasing

By Anneken Tappe, CNN Business The 10-year US Treasury bond yield rose past the 2% mark for the first time since the summer of 2019 Thursday and stocks traded sharply lower after a key inflation figure rose to its highest level in nearly 40 years. The Dow finished 1.5%, or 526 points, lower, while the

By Anna Bahney, CNN Business Mortgage rates increased again, rising to a level not seen since before the pandemic. The 30-year fixed-rate mortgage averaged 3.69% in the week ending February 10, up from 3.55% the week before, according to Freddie Mac. It’s the highest since January 2020. “The normalization of the economy continues as mortgage

By Julia Horowitz, CNN Business Liz Ann Sonders, the chief investment strategist at Charles Schwab, thinks Wall Street is missing the point on inflation. US inflation accelerated to 7.5% in January, the highest level in nearly 40 years, according to Labor Department data published Thursday. Sonders thinks the news could trigger another round of Wall

By Diksha Madhok and Sophia Saifi, CNN Business South Korean automaker Hyundai faced controversy this week in India, sparking diplomatic tensions between Seoul and Delhi. India’s Ministry of External Affairs said Tuesday that it summoned the Korean ambassador to express “strong displeasure” over what the agency called an “unacceptable social media post” made by one