Can a clothing company save the planet? Patagonia wants to find out.

Can a clothing company save the planet? Patagonia wants to find out.

(NEW YORK) -- If there was any doubt about where outdoor clothing company Patagonia stood on environmentalism, it was quickly put to rest last week when founder Yvon Chouinard and his family donated their ownership to efforts that would protect the planet. "Earth is now our only shareholder," Chouinard wrote…
What the rate hike will mean for housing

What the rate hike will mean for housing

(NEW YORK) -- The Federal Reserve’s string of interest rate hikes this year has thrown cold water on the once red-hot housing market. Existing home sales fell for the seventh straight month in August, down 0.4%, according to the National Association of Realtors, as the central bank aggressively raises interest…
Heating bills to reach 10-year high this upcoming winter: NEADA report

Heating bills to reach 10-year high this upcoming winter: NEADA report

(NEW YORK) -- Heating costs for the upcoming winter season are expected to increase by 17%, mainly impacting lower-income families, according to a new report from National Energy Assistance Directors Association. Costs are expected to reach above $1,200 in 2022-2023, up from $1,025 in 2021-2022, a 10-year-high, NEADA data reports.…
Fed hikes benchmark rate 0.75% in significant escalation of inflation fight

Fed hikes benchmark rate 0.75% in significant escalation of inflation fight

(WASHINGTON) -- The Federal Reserve instituted a dramatic interest rate hike on Wednesday, the latest in a series of borrowing cost increases, as the central bank tries to dial back near-historic inflation while avoiding an economic downturn. The Fed raised the benchmark interest rate by 0.75%, repeating the same hike…
Big bank CEOs sound alarm on inflation fight: ‘Expect tougher times ahead’

Big bank CEOs sound alarm on inflation fight: ‘Expect tougher times ahead’

(WASHINGTON) -- Chief executives at some of the largest U.S. banks sounded the alarm over sky-high inflation in testimony before Congress on Wednesday, warning that price hikes would require further borrowing cost increases from the Federal Reserve that will slow the economy and impose widespread financial pain. The testimony from…
This is how much money Black women lose to the pay gap

This is how much money Black women lose to the pay gap

(NEW YORK) -- The wage gap that sees Black women earning less than white, non-Hispanic men can cost them as much as $2,000 per month, $23,000 per year and more than $900,000 over the course of a 40-year career, according to the National Women's Law Center, a policy-focused organization that…
How rapidly rising mortgage rates are squeezing prospective homebuyers

How rapidly rising mortgage rates are squeezing prospective homebuyers

(NEW YORK) -- For Emily and Michael Brown, the Federal Reserve’s rate hikes hit close to home. The Browns had been renting a two-bedroom apartment in Washington, D.C., when their now-6-month-old daughter was born. Eager to upgrade to a bigger space, the couple wanted to put their savings to use…
Fed expected to raise interest rates, escalate fight against inflation

Fed expected to raise interest rates, escalate fight against inflation

(NEW YORK) -- Wall Street will watch closely on Wednesday as the Federal Reserve is expected to escalate its fight against inflation with a dramatic interest rate hike. The move would come a little more than a week after a higher-than-expected inflation report revealed that prices rose slightly in August,…