Record job switching has contributed to higher inflationA paper by the Chicago Federal Reserve shows that job switching boosted inflation an extra percentage point as people were able to garner higher pay.
US inflation and consumer spending cooled in DecemberThe overall spending figures for the final two months of 2022 were the weakest in two years.
Biden touts economic record, criticizes House RepublicansThe president's first major economic address this year comes as the White House and Congress remain at odds over increasing the debt ceiling.
Texas bill would ban nationals from 4 countries from buying landA proposed Texas bill prohibits land sales to entities and individuals with ties to North Korea, Russia, China and Iran.
US economy slowed but still grew at 2.9% rate last quarterThe nation's gross domestic product decelerated last quarter from the 3.2% annual growth it posted from July through September.
Debt ceiling: 2011 showdown leaves lessons for Biden, GOPDemocrats are pushing to raise the debt ceiling — now at $31T —to allow more borrowing, while Republicans are countering with proposed spending cuts.
Which American cities are experiencing the most inflation in 2023?Experts say there are three primary factors causing inflation to skyrocket, with housing at the top of the list.
America is facing a child care crisisThe American Rescue Plan of 2021 provided $39 billion in child care relief funds that are starting to run dry.
Congress, Treasury plan to address US hitting debt ceilingThe U.S. has never hit the cap on how much money it can borrow before, and experts say it would have "catastrophic" economic consequences if it does.
Wholesale inflation in US slowed further in December to 6.2%The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7% in March.
US consumer inflation eased again to 6.5% in DecemberThe Federal Reserve doesn’t expect inflation to slow enough to get close to its 2% target until well into 2024.
President Biden's New Year Pitch Focuses On Benefits Of BipartisanshipPresident Biden and Senate Republican leader Mitch McConnell will make a rare joint appearance in McConnell's home state of Kentucky on Wednesday.
House Passes $1.7 Trillion Spending BillThe $1.7 trillion spending bill finances federal agencies through September and provides more aid to Ukraine. It now heads to President Biden.
An Inflation Measure Watched By The Fed Eases To 5.5%Inflation still remains well above the 2% year-over-year growth the Fed wants to see.
U.S. Economy Grew 3.2% Last Quarter, Outperforming EstimatesThe economy's gross domestic product — output in goods and services — grew 3.2% from July through September.
Decision On Long-Shot Push For Revised Child Tax Credit Expected SoonSome lawmakers are trying to sneak a version of the expanded child tax credit back into law by including it in the federal budget.
Fed Raises Key Rate By Half-Point And Signals More To ComePolicymakers forecast that their key short-term rate will reach a range of 5% to 5.25% by the end of 2023.
Fed Set To Extend Inflation Fight With 7th Rate Hike Of 2022The Federal Reserve is expected to impose more rate hikes next year than it had previously forecast to combat the worst inflation in 40 years.
U.S. Inflation Drops To 7.1% Over Past 12 MonthsNovember consumer prices dropped sharply from 7.7% in October, but grocery prices remained a troubled spot last month, rising 0.5%.
Feds Warn Of Dangers Of Buy Now, Pay LaterBuy now, pay later companies are giving people extra credit, but the government warns there are some downsides — fees, charges and data harvesting.
Why Does OPEC Control Oil Prices?OPEC comprises 13 countries including some of the world’s largest oil exporters.
U.K. Announces Tax Hikes And Spending Cuts To Restore FinancesTreasury chief Jeremy Hunt imposed $65 billion in tax increases and spending cuts as the U.K. looks to put its finances on a sustainable path.
Consumer Price Index Has The Smallest Rise Since JanuaryThe Consumer Price Index increased 0.4% for the month and 7.7% from a year ago. That’s the smallest rise since January and lower than estimates.
U.S. Consumer Inflation Eased To 7.7% Over Past 12 MonthsThe Federal Reserve is widely expected to keep raising interest rates to try to stem persistently high price increases.
Current Federal Reserve Interest Rate At Highest Level Since 2008Interest rates are once again rising, as the Fed announced another hike — the sixth this year.
Major Diesel Supplier Warns Of Shortage, Higher PricesSome stakeholders say the U.S. government needs to increase production and expand leasing to oil drilling to avoid a diesel shortage.
Fed Unleashes Another Big Rate Hike But Hints At A PullbackThe Fed's move raised its key short-term rate to its highest level in 15 years.
New York City Employers Are Now Required To Disclose Salary RangesNew York City employers now must disclose salary ranges for every job posting, promotion and transfer opportunity.
20 States Are Sending Out Stimulus Checks To Eligible ResidentsTwenty states have or will dole out financial relief to certain residents. Find out if your state is sending out stimulus money and who is eligible.
U.S. Economy Returned To Growth Last Quarter, Expanding 2.6%Consumer spending, which accounts for about 70% of U.S. economic activity, expanded at a 1.4% annual pace, down from a 2% rate from April-June.
