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Matcha — a green tea powder deeply rooted in Japanese tea ceremonies — has surged in U.S. popularity in recent years. Its vibrant green color has become a social media staple, flaunted by influencers and wellness-conscious consumers.

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Performative as it may seem, matcha is also addictively delicious — at least to some. To others, it just tastes like grass. But as anyone who has developed a habit for the earthy beverage will tell you, it’s also incredibly expensive.

I couldn’t possibly count how much I’ve paid for matcha since I first started drinking it in 2020 and if I could, I’d be embarrassed. In a moment of weakness, I once spent $11.50 on a latte, an unusually high price even for New York City, where I live. read more

By CHRISTOPHER RUGABER, Associated Press Economics Writer

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge mostly held steady last month despite President Donald Trump’s broad-based tariffs, but a measure of underlying inflation increased.

Prices rose 2.6% in July compared with a year ago, the Commerce Department said Friday, the same annual increase as in June. Excluding the volatile food and energy categories, prices rose 2.9% from a year earlier, up from 2.8% in the previous month and the highest since February.

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The figures illustrate why many officials at the Federal Reserve have been reluctant to cut their key interest rate. While inflation is much lower than the roughly 7% peak it reached three years ago, it is still running noticeably above the Fed’s 2% target. read more

By CHRISTOPHER RUGABER and PAUL WISEMAN, AP Economics Writers

A lawyer for Lisa Cook on Friday urged a U.S. judge to let the Federal Reserve governor keep her job while she fights President Donald Trump’s attempt to fire her in a stunning assault on the central bank’s independence.

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The case in the U.S. District Court in Washington D.C. could provide Trump with expansive power over the Fed, which has traditionally been shielded from political pressure as it makes tough, complicated decisions about whether to raise interest rates to fight inflation or lower them to encourage hiring and economic growth. read more

The latest concept for redeveloping Orlando Fashion Square Mall calls for even more apartments, less retail, and potentially the biggest gym in Central Florida.

Macy’s would get smaller, and Whole Foods might come in. But the biggest question about the distressed retail center remains: When is anything going to happen?

New Jersey-based M&M Realty Partners, the developer selected by mall owner Bancorp, revealed a new conceptual plan this week during a shopping center industry event, ICSC@Florida, at the Orange County Convention Center, according to a report in GrowthSpotter. M & M Realty is a joint venture led by Edgewood Properties founder Jack Morris and JMP Holdings President Joe Marino. They were tapped by the bank in 2021 to redevelop the mall.

The new M&M concept deviates from the framework master plan approved by the City of Orlando in 2021. Created by Baker Barrios, it called for 1,400 residential units spread over four phases, plus 177,000 square feet of new retail uses and a 120-room hotel. read more

By ALEX VEIGA, AP Business Writer

Wall Street notched more milestones Thursday after gains in technology stocks helped push the market to another all-time high.

The S&P 500 rose 0.3%, lifting the benchmark index to its second record high in a row. The Dow Jones Industrial Average reversed an early slide and gained 0.2%, enough to move past its record high set last Friday.

The Nasdaq composite closed 0.5% higher, finishing just short of its all-time high set two weeks ago.

About 55% of the companies in the benchmark S&P 500 closed lower, but gains in the technology and communication services sectors offset losses elsewhere in the market. Broadcom rose 2.8%, Amazon added 1.1% and Google parent Alphabet finished 2% higher.

“We’re seeing a continuation of a theme that has been in place really all year long, and that is communication services, information technology, really the areas that are surrounding this incredible capital expenditure cycle, have been the primary beneficiaries,” said Bill Northey, senior investment director at U.S. Bank Asset Management. read more