U.S. Economy

ARK Invest CEO Cathie Wood said consumer sentiment, combined with supply chain problems, has already caused a recession.

Users on social media are calling for a mass boycott of gas sales over the July 4 weekend.

The lack of regulation has long been appealing to cryptocurrency investors, but now industry leaders are changing their tune.

The Federal Reserve chairman spoke on the likelihood of a recession, whether interest rates will rise again and how unemployment factors in.

Record‐low birth rates, increasingly delayed or deferred weddings, and the rising cost of raising a child are leading policymakers and pundits to suggest new approaches to supporting family life in law.

A gas tax cut won't do much to fix high prices driven by a supply shock. Experts warn it could actually make inflation worse.

The former president said the U.S. had the "greatest economy in the history of the world" before the Democrats "destroyed it."

The treasury secretary, however, said that she doesn't believe that a recession is "inevitable" on Sunday.

Consumers are selling everything from guns and game consoles to jewelry and family heirlooms to pay for basics.

"It turns out that in an anti-Russian fever, Washington is ready to shoot itself in the leg and dance simultaneously," Anatoly Antonov said. "It looks absurd."

Only 20 percent of Americans think the U.S. economy is not in a recession.

Stock broker Peter Schiff said a crash is coming for the U.S. economy and has also said he has been right about a U.S. recession for the last 10 years.

The "nowcast" of GDP shows the U.S. hitting a second successive quarter of slowdown.

The GOP only wants to simplistically cast blame for a complex issue on Democrats for their own political advantage.

"Housing is starting to roll over. Inventories have exploded. There are layoffs in multiple industries," said crypto investor Michael Novogratz.

Biden's acknowledgment of basic economics departs sharply from everything he's done since day one of his administration.

"Guys, this is not going away," farmer Holly Weilnau said. "Stop sticking your head in the sand and thinking, 'Oh, it's going to be okay.'"

Newsweek has everything you need to know about the Wall Street term "bear market", including how long it lasts and when the last one happened.

The issue with the most obvious solution to Biden's problem is that it has its own political cost—one that requires him to have to sacrifice an economic win.

"We may well get to 9 percent at this rate," Allianz chief economic adviser Mohamed El-Erian warned Sunday.

Larry Summers noted Sunday that periods of high inflation and low unemployment are "almost always" followed by a recession.

The U.S. Labor Department reported the highest year-over-year Consumer Price Index (CPI) increase since December 1981 on Friday.

Biden spent the week pushing an optimistic message on the U.S. economy, but his detractors are warning Americans: "You better brace yourself."

President Biden needs a history lesson from former President Jimmy Carter.

President Joe Biden faces significant midterm election challenges as inflation has pushed up the price of goods throughout his time in office.

Americans will see gas prices rise nearly immediately due to the embargo, experts said.

Newsweek offers an analysis into what the EU oil ban could mean for gas prices in the U.S., as well as what it means for an already volatile energy market.

Formula shortages have spread across the U.S. after Abbott Nutrition, one of the country's biggest suppliers, closed its plants following infant death reports.

Tides go out but also come back. Savers who kept their clothes on, even when lower interest rates tried to seduce them into heavy borrowing, may be best positioned to get back into the swim.

Newsweek spoke to finance academics about whether the world's first cryptocurrency can weather inflation.