President Biden discussed the economy in the last interview of his administration on MSNBC’s “The Last Word with Lawrence O’Donnell" Thursday night.

The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

Inflation increased by 2.9% in December 2024, marking three consecutive monthly rises. Mountain West states had the lowest regional inflation, with an increase rate of 1.7% year-over-year.

US consumer inflation rose for a third straight month in December as energy prices increased, according to government data published Wednesday, adding pressure on the Federal Reserve to pause rate cuts.

The consumer price index increased by 2.9 percent in December from a year earlier, the Labor Department reported Wednesday, in line with economists’ expectations and hotter than a 2.7 percent rise in November. It was also above a 2.6 percent annual increase in October.

The cost of living in the Valley has soared sharply over the last five years, but according to the latest data from the U.S. Bureau of Labor Statistics, there could be signs of relief. Prices in metro Phoenix are up 1.

A Labor Department report showed the Consumer Price Index (CPI) rose 2.9 per cent on an annual basis in December 2024, the highest since last July

Inflation has been around since the days of Alexander the Great and it's not showing any signs of going away. In combating this pesky problem, the Federal Reserve uses interest rates as a primary tool to control inflation.