Scott Horsley

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President Biden has chosen to keep Jerome Powell in place for a second term as Federal Reserve chairman — a move that signals continuity with the central bank's policies at a time when the economy faces critical challenges, including surging inflation

Biden nominated current Fed governor Lael Brainard to serve as vice chair. Brainard had been seen as a leading contender to replace Powell.

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Oil prices keep climbing, supply chains still tangled - and that's keeping inflation at its highest level in more than a dozen years. The Labor Department said this morning that consumer prices rose 5.4% during the 12 months ending in September. Price hikes accelerated in just the last month. NPR's Scott Horsley joins us. Scott, that is a long list of bummer items. Let's start with energy. Crude oil prices have risen sharply, and that's causing gas to rise. What's going on?

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Three economists are sharing this year's Nobel Prize for their work on so-called natural experiments, including how changes in the minimum wage affect the labor market. NPR's Scott Horsley is here with details. Hey, Scott.

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Now that the Food and Drug Administration has granted full approval to Pfizer's COVID-19 vaccine, President Biden wants more private employers to require their workers to get the shot.

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