U.S. Economy
Fed Chair Powell Tells House Committee Can't Be Sure When Inflation Will Go
Jerome Powell told a House committee Wednesday it's not possible to be sure when inflation will improve, but the pandemic fading would make it more likely.
U.S. Economic Recovery Remains Strong But Omicron Variant Could Complicate
"The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity," Jerome Powell said.
Spending Rises in October, Unemployment Claims Dip in New Economic Data
A 1.3 percent rise in consumer spending in October in the face of rising inflation gave experts a positive sign in new economic data released Wednesday.
Fed Alters Projection on Inflation, Says It Could Stick Around Longer
The Federal Reserve will cut billions of dollars in aid in response to new timelines that show inflation may endure into the middle of next year.
October Jobs Report Should Help Define 2021 Economic Picture
October jobs numbers will join other key financial reports this week as the state of the late-year 2021 economy becomes further defined.
47 Percent of Americans Expect the Economy to Worsen
Americans beliefs toward economic growth under the Biden administration have taken a sharp turn since the beginning of the year.
71 Percent of Americans Say U.S. Is Going in Wrong Direction: Poll
The new NBC News poll comes days before the hotly contested Virginia gubernatorial race where Republicans are seeking to capitalize on Biden's lowering approval.
How to Watch Joe Biden's Economic Address
The White House has released details of the $1.75 trillion spending package Biden will sell to his party before departing for Europe on Thursday.
A Great Consolidation Is Underway. It's Destroying the Middle Class.
If we allow the current trend to continue and big government to grow larger, this consolidation will keep eating away at your wealth instead of providing more opportunities for economic prosperity.
Yes, Our Economic Problems Are 'High Class'
How many tears must be shed for cyclists who have to wait a while for their $1,200 bikes? As problems go, that's pretty "high class," don't you think?
U.S. Homes Could See 54 Percent Rise in Heating Costs
This winter could be the most expensive on record since the winter of 2008-2009, the federal government said Wednesday.
CA Ports to Operate 24/7 to Ease Shipping Bottlenecks, Supply Shortages
Supply chain issues are closely linked to recent consumer price increases, which pose risks both economically and politically for U.S. officials.
Retailers, Shipping Companies Want One Thing for Holiday Season: Workers
"I've never seen a market like this," said Matt Lavery, UPS's global director of sourcing and recruiting.
Biden: Infrastructure Bill, Spending Package Will Help 'Regain Momentum'
President Joe Biden said his legislative agenda was necessary as a response to September's staggering jobs report.
Inflation is Here to Stay
Last week, Federal Reserve chair Jerome Powell changed his tune about inflation, saying that it will run a bit higher and last a bit longer than he expected.
The Worldwide Energy Crunch is a Dire Warning for the United States
If President Biden ignores these warnings, the energy crunch that Europe and China are experiencing today is waiting for Americans in the near future.
U.S. Must 'Ally-shore' to Reassure Partners, Reassert Power of Democracies
For economic growth, international security, global political stability and the protection of our democracies—the time for ally-shoring is now!
New Vehicle Prices in U.S. Set Record, Approaching $43K
Thomas King, president of data and analytics at J.D. Power, said there are simply not enough vehicles being manufactured to meet demand.
Biden Budget Must Be Measured in Human Suffering
The Biden administration's reconciliation bill will hasten our fiscal decline and seriously hamstring economic productivity.
Inflation Rates Will Decline After Seeing Biggest Increase in 30 Years: Fed
Federal Reserve Chair Jerome Powell said current inflation "is a function of supply side bottlenecks over which we have no control."
Hiring People With Criminal Records is Good for Business
An economist says hiring people with criminal records is good for business and good for society
Senate GOP Won't Raise Debt Limit Despite $7.8T Heaped On Under Trump
While Republicans are blaming Democrats for reckless spending, about $7.8 trillion of the overall national debt was accumulated under President Donald Trump.
White House, Treasury Launch Website to Make Child Tax Credit Easier
"All of this has to be part of a very serious and concerted effort to get as many children signed up as we possibly can," President Joe Biden said.
Number of Americans Intending to Vacation Rises Despite COVID Surge
"Americans overall are flush with cash and eager to spend it as the economy reopens," said Robert Frick, corporate economist with Navy Federal Credit Union.
America is Headed for a Market Crash. Washington Deserves the Blame
When housing prices are increasing as rapidly as they are now, it's typically a sign of severe distortions in the financial system.
Just 60M Americans Participated in 401K Plans Last Year, Most Funds Rose
Fidelity Investments reviewed 19.8 million 401(k) plan accounts and found the average plan rose 24 percent to $129,300, a new record, in the second quarter.
U.S. Restaurant Prices See Largest Increase Since 1981 in July
Higher food costs and increased wages for workers are among the reasons driving up the prices at U.S. restaurants
Biden Admin Asks FTC to Look Into 'Illegal Conduct' Causing Gas Price Hikes
"Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery," said National Security Adviser Jake Sullivan.
Federal Reserve Official Calls on Central Bank to Ease Bond Purchases
Eric Rosengren said the central bank should announce it will begin reducing its $120 billion in purchases of Treasury and mortgage bonds "this fall."
22 States Have Ended $300 Weekly Unemployment Bonus, 13.2M Getting Aid
Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday.