Blockbuster Jobs Report Sends Mixed Message to the Fed
Job growth accelerated in May as employers hired 272,000 workers, the Labor Department reported Friday. The results handily beat expectations for...
56% of Americans Think the US Is in a Recession
Most Americans think the U.S. economy is in a recession, even though it is not, according to a new poll released Wednesday. A new Guardian/Harris poll...
Biden to Release 1 Million Gallons of Gas as Summer Driving Season Begins
The Biden administration announced plans Tuesday to release roughly 1 million barrels of gasoline from the nation’s reserve during the peak summer...
Inflation Eases in April, Lifting Hopes for a Soft Landing
Inflation took a bit of a breather in April, as the Consumer Price Index rose 3.4% on an annual basis, down a tenth of a point from the March reading...
Biden Announces Huge Increase in Tariffs on Chinese Electric Vehicles, Semiconductors
Saying he intends to protect American jobs and strategic industries, President Joe Biden on Tuesday announced major increases in tariffs on a range of...
Fed Holds Rates at 23-Year High as Inflation Worries Persist
The Federal Reserve made no changes in its interest rate policy Wednesday, holding its benchmark rate at a 23-year high amid signs of stubborn...
Hot Inflation Dims Prospects for Summer Rate Cuts
A leading measure of inflation was higher than expected in March, as the consumer price index rose by 3.5% on a year-over-year basis. The March report...
Jobs Market Sizzles as Unemployment Rate Dips to 3.8%
In the latest sign that the U.S. economy is maintaining its gravity-defying momentum, the Bureau of Labor Statistics reported Friday that employers...
Fed Sees Stronger Economy, Three Rate Cuts This Year
At the conclusion of its March meeting on Wednesday, the Federal Reserve announced that it will hold its benchmark overnight borrowing rate in a range...
Inflation a Little Hotter Than Expected in February
Inflation is looking a bit sticky as we head further into 2024. The consumer price index rose 0.4% from January to February, and 3.2% from February...