Consumer Confidence Tumbles Amid Frustration Over High Prices
Consumer sentiment survey shows Americans’ confidence in the economy tumbled after two months of small gains, with frustration over high prices to blame.
Inflation Tops Market Estimates as Food, Shelter Costs Rise in September
According to BLS, the annual inflation rate slowed to 2.4 percent last month, down from 2.5 percent in August. This was above the market estimate of 2.3 percent.
US in Recession Since 2022 After Inflation Adjustments, New Research Shows
New research by prominent economists suggests U.S. economy has been in a recession for the last two years after inflation adjustments are taken into account.
Fed Slashes Interest Rates by Half a Percentage Point, First Cut in 4 Years
The Federal Reserve has cut interest rates for the first time in four years after concluding its two-day policy meeting on Sept. 18, 2024.
Immigrants Drive Job Growth as Native-Born Employment Drops, Data Shows
Immigration to the U.S.—both legal and illegal—has soared over the past few years, and the influx of newcomers is altering the state of the national labor market.
How the Job Market Is Faring as Fed Shifts Focus to Employment
The number of job openings has declined by approximately 1.1 million since September 2023, according to the Bureau of Labor Statistics.
Federal Reserve Chairman Jerome...
Fed Confronts Up to a Million US Jobs Vanishing in Revision
US job growth in year through March was less than initially estimated, fueling concerns the Federal Reserve is falling behind the curve to lower interest rates.
US Inflation Rate Slows to 2.9 Percent as Shelter, Motor Vehicle Insurance Remain High
Core inflation also dipped in July to 3.2 percent.
The U.S. annual inflation rate slowed for the fourth consecutive month in July and came in...
Bank of America Reverses Recession Call, but Warns of ‘Very Negative’ Consumer Spending Risk
Bank of America CEO Brian Moynihan remains optimistic about avoiding a recession, but warns of risks if consumer spending continues to decline.
Bank of America...
US Unemployment Rate Climbs to Highest Since October 2021
Unemployment rate rose to 4.3%, up from 4.1%, and higher than economists’ expectations of 4.1%. This represents the highest jobless rate since October 2021.
Federal Fiscal Burden Consumes 93% of America’s Wealth
Based on data from a U.S. Treasury report, the federal government has amassed $142 trillion in debts, liabilities, and unfunded obligations.
Budget Deficit Jumps to $347 Billion in May as Spending, Interest Costs Soar
Eight months into 2024 fiscal year, fiscal year-to-date federal shortfall totals $1.202 trillion, compared with $1.695 trillion in entire fiscal year of 2023.
