NEW YORK — The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy. The […]
WASHINGTON — President Joe Biden gathered a crowd of thousands at the White House Tuesday to celebrate last month’s passage of the Inflation Reduction Act, even as a new government report showed how hard it could be to bring surging prices […]
WASHINGTON— Lower gas costs slowed U.S. inflation for a second straight month in August, but most other prices across the economy kept rising — evidence that inflation remains a heavy burden for American households. Consumer prices rose 8.3% from a year […]
WASHINGTON — America’s employers added a healthy number of jobs last month, yet slowed their hiring enough to potentially help the Federal Reserve in its fight to reduce raging inflation. The economy gained 315,000 jobs in August, a still-solid figure […]
JACKSON HOLE, Wyoming — Federal Reserve Chair Jerome Powell delivered a stark message Friday: The Fed is determined to fight inflation with more sharp interest rate hikes, which will likely cause pain for Americans in the form of a weaker economy […]
NEW YORK — An afternoon pullback left stock indexes on Wall Street mixed, erasing most of their morning gains fueled by another encouraging report about inflation. The S&P 500 closed 0.1% lower Thursday. The Nasdaq also fell, while the Dow […]
WASHINGTON — Falling prices for gas, airline tickets and clothes helped give Americans a slight break from the pain of high inflation last month, though overall price increases slowed only modestly from a four-decade high that was reached in June. Consumer […]
WASHINGTON — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemployment dropped another […]
WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. The decline that the Commerce Department reported Thursday […]
WASHINGTON — What started as a $4 trillion effort during President Joe Biden’s first months in office to rebuild America’s public infrastructure and family support systems has ended up a much slimmer, but not unsubstantial, compromise package of inflation-fighting health care, climate change […]
WASHINGTON — The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. The Fed’s move will […]
Big retailers and technology companies led stocks lower on Wall Street Tuesday after Walmart warned that inflation is hurting American consumers’ spending power. The sell-off comes ahead of the Federal Reserve’s latest interest rate policy statement on Wednesday, when economists […]
WASHINGTON — The U.S. economy is caught in an awkward, painful place. A confusing one, too. Growth appears to be sputtering, home sales are tumbling and economists warn of a potential recession ahead. But consumers are still spending, businesses keep posting profits and the […]
WASHINGTON — Conflicting signs about the health of the U.S. economy have thrust the Federal Reserve into a difficult spot. With inflation raging at a four-decade high, the job market strong and consumer spending still solid, the Fed is under pressure to raise interest rates aggressively. […]
PHOENIX — Long lines are back at food banks around the U.S. as working Americans overwhelmed by inflation turn to handouts to help feed their families. With gas prices soaring along with grocery costs, many people are seeking charitable food […]
WASHINGTON — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The […]
WASHINGTON — America’s employers shrugged off high inflation and weakening growth to add 372,000 jobs in June, a surprisingly strong gain that will likely spur the Federal Reserve to keep sharply raising interest rates to try to cool the economy and […]
WASHINGTON— U.S. employers advertised fewer jobs in May amid signs that the economy is weakening, though the overall demand for workers remained strong. Employers posted 11.3 million job openings at the end of May, the Labor Department said Wednesday, down from […]
WASHINGTON — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a […]
WASHINGTON — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation […]
WASHINGTON — The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases […]
WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a […]
NEW YORK — Stocks tipped back into losses at midday on Wall Street Tuesday as rising interest rates and pressure from inflation raise concerns about economic growth. The S&P 500 fell 0.2% as of 12:01 p.m. The benchmark index wavered […]
WASHINGTON — U.S. employers added 390,000 jobs in May, extending a streak of solid hiring that has bolstered an economy under pressure from high inflation and rising interest rates. Last month’s gain reflects a resilient job market that has so […]
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