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Business and Economic News

The Fed's mission improbable: Beating inflation without causing a recession

The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.
by Scott Horsley

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Cleveland-Cliffs extends closure of Northshore Mining until April

Cleveland-Cliffs extends closure of Northshore Mining until April

Cleveland-Cliffs plans to extend the closure of its Northshore Mining facilities in Babbitt and Silver Bay, Minn., until at least April, 2023. About 410 workers were laid off when the closure began in May this year.
by Dan Kraker

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Businesses struggle to navigate values in a politically polarized world

“I think we all need to ask ourselves whether we want to end up in an America with red banks and blue banks, red mattress companies and blue mattress companies, where business becomes as polarized as the general population,” business ethicist Alison Taylor tells MPR News host Tom Crann.
by Tom Crann, Sam Stroozas and Megan Burks

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Minnesota celebrates, confronts ‘bafflingly low’ unemployment rate

Minnesota celebrates, confronts ‘bafflingly low’ unemployment rate

Minnesota notched another new unemployment record in June, with its seasonally adjusted rate falling to 1.8 percent. But job growth has tapered as employers struggle to fill openings.
by Brian Bakst

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St. Paul ordinance set 3 percent cap on rent increases — but exemption requests are mounting

St. Paul ordinance set 3 percent cap on rent increases — but exemption requests are mounting

Last fall, it looked simple. Voters in St. Paul approved a strict new rule for raising rents in the city. But implementation is proving tricky. There are paths for landlords to seek exemptions allowing rent increases much higher than the 3 percent cap.
by Tim Nelson

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Netflix loses nearly 1 million subscribers. That's the good news

Netflix loses nearly 1 million subscribers. That's the good news

The streaming service had forecast that it would lose 2 million subscribers. The less severe loss, combined with a projection of growth in July to September, helped lift Netflix's battered stock.
by Eric Deggans

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How to stretch your money when things cost more

How to stretch your money when things cost more

Food, gas and rent costs are rising. But if the government fights inflation by raising interest rates it could lead to more unemployment. MPR News host Angela Davis talks with three money experts about how to make sense of the economy and stretch your dollars so you’re ready for what may come next.
by Angela Davis and Maja Beckstrom

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