In this edition of The Countdown, we collapse the US economy as inflation struggles to slow.
Lower gas costs slowed US inflation for the second straight month in August, but most other prices across the economy continued to rise.
ABC’s Reena Roy joined the show to help sort through the breaking news.
We also spoke to Giacomo Santangelo, an economics lecturer at Fordham University, for insight into the economy, inflation and interest rates.
Here are the other headlines from Tuesday’s show:
7 On Your Side uncovers cell fraud
In 2020, nearly 18 million Americans were scammed by instant payment app scams like Cell. It’s a consumer favorite that allows them to transfer money instantly, but it’s also a popular method for scammers to gain access to your bank accounts. Congress is now urging banks to do more to protect their customers from these scams.
7 On Your Side has more on how people are led to believe they are communicating with their bank and what is being done about it.
Queen’s storm damage
A Queens community that was devastated by the remains of Hurricane Ida a year ago is again ransacking the flooded portions of its basements and garages. Families tell Eyewitness News 5 feet of water poured into their garages. Just a year ago, Ida left a similar trail of devastation in its wake, a mess that many are still trying to find a way to pay for.
California mudslides
Tri-State flooding is coming as parts of Southern California grapple with massive mudslides. Rescue workers are now pulling people out of this thick mud from the sky. Five different states are helping with the rescue.
NASA asteroid crash In about two weeks, scientists will ram a refrigerator-sized spacecraft into an asteroid. The asteroid doesn’t threaten Earth, but scientists want to see if the collision can change the asteroid’s orbit. It’s the first test of its kind and could be a crucial step in learning how effectively a crash could protect Earth from being hit by an asteroid.
You can watch The Countdown Monday through Friday at 6:30 p.m. live on ABC7NY.com or on our ABC7NY app on Roku, FireTV, Apple TV and Android TV.
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