U.S. Economy

"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.

The average cost of a gallon is now an eyewatering $4.49. Economists and other oil industry experts set out what needs to happen for prices to fall.

"That money, it's more than a couple of shifts," said the gracious waitress. "I mean it helps out, everything helps out."

Three recent polls have found the president's approval rating stuck in the low 40s as he ramps up attacks on Trump.

A new report about the economy could deal another blow to the president's already lagging popularity.

Last year's pandemic relief package, the American Rescue Plan, may have held the key to a long-term strategy for ending child poverty in America.

A survey found that 37 percent of Americans expecting a tax refund this year will use it to pay bills or debt, while another 31 percent will save or invest it.

"We want to make sure that we lead in technology, not China," Democratic Congressman Ro Khanna of California told Newsweek.

According to the IRS, anyone that hasn't received their $1,400 economic payment in 2021 may be eligible to file for it on their upcoming tax return.

I am writing this on April Fool's Day. That may be the perfect day to try to explain how impossible, and indeed foolish, the newest Joe Biden tax proposal is.

It's time to strategically decouple ourselves from the supply chains that snake through totalitarian regimes across the globe—starting with energy and manufacturing.

Simon Jackson recreated his home in his office cubicle, organizing a living, sleeping and eating space

Comparatively slow economic growth was reported for February, according to Commerce Department data.

"If we offer a real plan, a real vision, and we deliver on that, then I think we can start to win back the trust of voters who have left us," Rep. Khanna said.

Federal Reserve chair Jerome Powell told lawmakers on Thursday that the Russian invasion of Ukraine could stoke inflation even higher.