GoKawiil
Tech News
Researchers identified more than 1,400 local policies across 157 cities addressing clean energy, building efficiency and extreme heat preparedness, according to a new study. The findings come as the Trump administration has restricted states from using Inflation Reduction Act rebates to help homeowners replace fossil fuel appliances with heat pumps.
A financial advisor breaks down how trillions of dollars sitting in low-interest checking and savings accounts are quietly losing value. With savings accounts averaging just 0.38% APY against 3.4% inflation, that cash loses more than 2% of real purchasing power annually, even as the balance stays unchanged.
Chicago Fed President Austan Goolsbee said Monday that the central bank might need to accept higher unemployment as a cost of bringing down persistently high inflation. He noted that supply shocks create a short-term conflict between the Fed's dual goals of stable prices and maximum employment, forcing policymakers to prioritize one over the other.
The U.S. Bureau of Labor Statistics' latest consumer price index shows grocery costs climbed 2.7% between August 2025 and August 2026. Over a longer stretch, the same basket of food items now costs 33% more than it did in August 2019, reflecting a sustained multi-year rise in food expenses.
The US central bank lifted its benchmark interest rate, marking the first increase in three years as it responds to persistent inflation pressures. The move comes as American consumers face rising prices, with fuel costs climbing sharply amid geopolitical tensions in the Middle East.
The Federal Reserve raised interest rates on Wednesday for the first time since 2023, increasing borrowing costs for consumers just as prices for electronics, groceries and housing have been climbing for the past year and a half. Economists note that even if the Fed succeeds in slowing inflation toward its 2% target, existing price increases won't reverse, meaning consumers face a higher cost baseline going forward.
A new executive order prohibits installing foreign-produced bulk-power system equipment deemed a national security threat, explicitly naming battery energy storage systems, inverters and transformers. This follows earlier measures including 2022 tax credit restrictions tied to sourcing of battery minerals and components, a 2025 rule requiring 55% non-Chinese materials for storage projects starting in 2026, and tariffs on batteries that rose to 25% from 7.5% in January.
More workers are tapping their 401(k) accounts through loans or hardship withdrawals, even as retirement balances climb to record levels amid rising savings rates. The trend reflects the strain of inflation pushing some savers to dip into retirement funds despite overall growth in their accounts.
Kevin Warsh, the Federal Reserve's new chair, has broken from his predecessors by declining to offer clear signals about future interest rate moves, even as inflation remains elevated. At his most recent press conference he repeatedly avoided answering whether the Fed would raise rates if inflation persists, leaving investors and economists uncertain about his approach. He is expected to address these concerns in a closely watched speech at the Fed's Jackson Hole symposium.
Chicago Fed President Austan Goolsbee says that although headline economic indicators look solid, persistent price pressures, tariffs, and Middle East conflict make this one of the riskiest inflation environments he's encountered. He also addressed how new Fed leadership under Kevin Warsh is reshaping internal dynamics, and described himself as a 'grim optimist' on artificial intelligence, noting the technology's results still lag its hype.