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The pandemic and its economic effects are a political weight on President Biden.

If you've tried to buy a car this year, you probably don't need us to tell you that auto lots are empty and prices are high. It's just been that kind of a wild year.

The Federal Reserve is paving the way for interest rate hikes next year after inflation accelerated to a near 40-year year high in November.

President Biden plans to re-nominate Jerome Powell to lead the Federal Reserve for four more years. Powell has steered the central bank through the pandemic recession. Now he must take on inflation.

Even with government assistance and other efforts, more than 55% of Black and Latino households reported serious financial problems, compared with 29% of white households.

Facebook executives will appear before a Senate panel following a list of public crises — including Instagram's impact on children. Facebook paused plans to build a version of Instagram for kids.

General Motors and Delphi, its former subsidiary, will offer early retirement and buy-out packages to more than 100,000 workers. In a deal negotiated with the United Auto Workers union, GM will offer incentives ranging from $35,000 to $140,000 each. While some workers said they were waiting to see the details, many said they doubted the package was attractive enough to induce them to retire. Jerome Vaughn of Detroit Public Radio reports.

Antonio Villaraigosa is set to become the Los Angeles' first Latino mayor since 1872 after a historic coalition of Latinos, blacks and whites buoyed his candidacy. But he says that after the publicity dies down, he will be judged by his ability to tackle problems such as L.A.'s public school system.

New Orleans has lost a huge number of jobs as a result of Hurricane Katrina. But right now, the city is experiencing a labor shortage. Fast food outlets are offering signing bonuses and paying premium wages to new hires. Other businesses also are scrambling to find enough workers.

It is about to get more expensive for many graduates to pay off college loans. Effective July 1, interest rates on two main financial aid programs, Stafford and Plus loans, will be rising. Those still in school, or who haven't yet begun paying back their loans, still have a time to lock in a lower interest rate.