and boosting prices, weighed down by concerns. gas prices fell and end the year cheaper than before russia invaded ukraine. number one, the fed s aggressive fight to tame decades-high inflation. americans paid high prices this year. inflation soaring to a new 40-year high. across the board, you paying more for just about everything. reporter: the central bank jacked up interest rates seven times to help. even rolling out bumper three-quarter-point hikes four times in a row. and the fed isn t finished. we continue to anticipate the ongoing increases will be appropriate. reporter: some worry the fed s higher rates will spark a recession. they re shaking markets and raising credit and mortgage payments. but have they lowered consumer prices? there s no clear signal yet. one thing for sure, the effects will continue to work their way through the economy, into next year. a historic event in
elon musk s takeover, and the market turmoil raised prices at the pump. these are the top business stories of 2022. number ten. crypto crashed, amid the downfall of its exchange. even flashy super bowl ads i don t think so. reporter: couldn t hold off the chill of a crypto winter, as investors ditched risky assets. has the crypto bubble finally burst? reporter: a downturn made worse by the implosion of the world s largest crypto exchange, ftx, over claims it misused customer money. the $32 billion company that plunged into bankruptcy basically overnight. reporter: leaving millions scrambling to recover funds. ftx is prompting investigations by federal prosecutors now. reporter: disgraced founder
grandmother who was stuck since yesterday afternoon with her son. the pair are turning the car on and off for heat and to save gas. the storm has claimed the lives of 16 people across the country. more than 100 million people remain under windchill alerts. a power grid operator for 13 states is now asking residents to reduce their power usage to avoid widespread outages. road travel in some areas is dangerous if not impossible. and alone, more than 2,600 flights have been canceled, more than 6,000 have been delayed. paula sandoval is in hard-hit buffalo, new york. that s part of erie county. officials say hundreds could be trapped in their cars. what are you seeing on the ground? reporter: a individual was found unconscious on the sidewalk. the latest person to be added to
Transcripts for CNN CNN Newsroom With Jim Acosta 20240604 21:34:30 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
influx. huge lines are greeting travelers at airports across the united states. it s going to be a summer of travel hell. reporter: some saw thousands of flights delayed. 2,100 are delayed. reporter: or canceled, over holiday weekends. 41,000 cancellations since the first of june. reporter: one major reason, not enough crew members. airlines trimmed staff during the pandemic. any disruption like bad weather, sparked chaos. number five, a rough year for wall street, amid a tech wreck. the rally ended this year. the s&p 500 has fallen into what investors call a bear market. this is the worst day since june of 2020. reporter: investors reacted to rising prices and the fed s aggressive campaign to fight them. raising the specter of a recession, while hurting high growth stocks like tech. tech stocks have plunged since the start of this year. reporter: 2022 was an awful