Biden Admin Award $1.7B For EV Production; Annual Inflation Eases To 3% | Business Matters (July 11)

The federal government is spending $1.7 billion to modernize automobile manufacturing facilities, helping the industry compete with foreign subsidies and create and protect jobs.The U.S. annual inflation rate eased for the third consecutive month and came in below the consensus estimate, offering the Federal Reserve further evidence that progress is being made in returning to the central bank’s 2 percent target rate.Bankruptcies across the board soared 14% during the first quarter. We speak with the president of the American Bankruptcy Institute, Chris Ward, to see where things may be headed next.