• Falling gasoline prices are expected to put a dent in the July inflation rate due out this morning. But other costs such as housing continue to climb, putting a strain on many family budgets.
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• The NFL begins pre-season games on Thursday. The hope is that Central Floridians will be just as excited about the XFL, a new minor football league, set to begin in February. WMFE’s Talia Blake spoke with Mark Johnston, marketing professor at the Crummer Graduate School of Business at Rollins College, about how sports leagues impact the economy and you.
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• The average price of gasoline nationwide is expected to drop below $4 a gallon in the coming days as prices continue to fall from the record highs hit in June.
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• U.S. employers added 528,000 jobs in July, showing the labor market remains strong, despite high inflation and softening economic growth. The unemployment rate fell to 3.5%.
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• Florida, like a number of other states, is facing a pretty bad teacher and school staff shortage. According to the Florida Education Association, there are nearly 4,500 teacher vacancies in school districts across the state. Lawrence Drake is interim president and dean of the College of Business and Entrepreneurship at Bethune Cookman University. WMFE’s Talia Blake spoke with Drake about how the current economy is affecting education.
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• The Federal Reserve announced Wednesday that it will increase its benchmark interest rate by 0.75%, matching the largest increase in decades. Here’s what that means for everyday Americans.
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• U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It’s at a size and pace we haven’t seen since the 1980s.
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