Your word of the day: “boomflation”

January’s retail numbers show that Americans are buying a lot. They’re purchasing furniture to make themselves more comfortable at home and are switching up that business-casual wardrobe for something more “business comfortable.” Even when accounting for inflation, there’s a boom in spending and demand — something the Federal Reserve is likely making note of as it eyes interest rate hikes. We’ll also examine the tiff over U.S.-China flights and why more students aren’t filling out the federal financial aid application.