Wall Street

Inflation rose at the fastest pace in nearly four decades in December, as rapid price gains fueled consumer fears about the economy and sent President Biden's approval rating tumbling.

The newest inflation data out this week is expected to show another jaw-dropping figure as the price for a bevy of everyday consumer goods soared higher.

House Minority Leader Kevin McCarthy is considering limiting or prohibiting members of Congress from trading individual stocks while in office if GOP wins the majority in November, a source told FOX Business.

Sen. Jon Ossoff is planning to introduce legislation to prohibit members of Congress from holding or trading individual stocks while in elective office, a source told FOX Business.

Americans' inflation fears held steady for the first time in months in December, although concerns over rising prices remained at a record high, according to a key Federal Reserve Bank of New York survey published Monday.

U.S. stocks edged higher early Monday morning as investors were cautiously hedging their bets on higher short-term interest rates arriving as soon as March.

President Biden on Friday glossed over weak job growth in December that marked the worst month for hiring in a year, instead focusing on a surprise decline in the nation's unemployment rate.

Although U.S. job growth slowed markedly in December, most industries still added to their payrolls last month, with restaurants and bars leading the way in hiring before the threat of the new omicron variant.

U.S. job growth accelerated in December, before the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.

The December jobs report is projected to show that hiring bounced back last month before the rapid spread of the new omicron coronavirus variant cast a fresh threat over the economy and its recovery from the pandemic.