U.S. Economy

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.

"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.

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.

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 numbers will join other key financial reports this week as the state of the late-year 2021 economy becomes further defined.

Americans beliefs toward economic growth under the Biden administration have taken a sharp turn since the beginning of the year.

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.

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.

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.

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?

This winter could be the most expensive on record since the winter of 2008-2009, the federal government said Wednesday.

Supply chain issues are closely linked to recent consumer price increases, which pose risks both economically and politically for U.S. officials.

"I've never seen a market like this," said Matt Lavery, UPS's global director of sourcing and recruiting.

President Joe Biden said his legislative agenda was necessary as a response to September's staggering jobs report.

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.

If President Biden ignores these warnings, the energy crunch that Europe and China are experiencing today is waiting for Americans in the near future.

For economic growth, international security, global political stability and the protection of our democracies—the time for ally-shoring is now!

Thomas King, president of data and analytics at J.D. Power, said there are simply not enough vehicles being manufactured to meet demand.

The Biden administration's reconciliation bill will hasten our fiscal decline and seriously hamstring economic productivity.

Federal Reserve Chair Jerome Powell said current inflation "is a function of supply side bottlenecks over which we have no control."

An economist says hiring people with criminal records is good for business and good for society

While Republicans are blaming Democrats for reckless spending, about $7.8 trillion of the overall national debt was accumulated under President Donald Trump.

"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.

"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.

When housing prices are increasing as rapidly as they are now, it's typically a sign of severe distortions in the financial system.

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.

Higher food costs and increased wages for workers are among the reasons driving up the prices at U.S. restaurants

"Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery," said National Security Adviser Jake Sullivan.

Eric Rosengren said the central bank should announce it will begin reducing its $120 billion in purchases of Treasury and mortgage bonds "this fall."

Jobless claims dropped by 24,000 to 400,000 last week, the Labor Department reported Thursday.