Dec 29 Watch 5:56 How the economy upended expectations of a recession in 2023 By Geoff Bennett, Shoshana Dubnow It was a year in which many experts got a lot of things wrong about the economy. Many economists believed the Fed's battle to tame inflation with interest rate hikes would trigger high unemployment and a recession. Instead, inflation was… Continue watching
Dec 08 Watch 5:40 News Wrap: Labor report shows economy added 199,000 jobs, unemployment drops to 3.7% In our news wrap Friday, the latest jobs report shows U.S. employers added a net 199,000 employees in November, a federal appeals court largely upheld a gag order on former President Trump in his 2020 election interference case, a pregnant… Continue watching
Nov 23 Retailers hoping for Black Friday boon even as shopping slowdown is expected By Anne D'Innocenzio, Associated Press NEW YORK (AP) — Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements. Continue reading
Nov 14 Watch 6:29 Treasury Secretary Yellen on economic competition and cooperation between U.S. and China By Geoff Bennett, Stephanie Kotuby, Alexa Gold This week is an important moment in the strained and often tense relationship between the U.S. and China. President Biden and Chinese President Xi Jinping will meet face to face in San Francisco on Wednesday as part of the Asia… Continue watching
Nov 14 U.S. inflation cooled in October, driven lower by cheaper gas, cars and airfares By Christopher Rugaber, Associated Press Tuesday's report from the Labor Department showed that prices either fell or rose only slowly across a broad range of goods and services, including gas, new and used cars, hotel rooms and housing. Continue reading
Oct 30 How long can the surge in U.S. consumer spending last despite higher prices? By Christopher Rugaber, Anne D'Innocenzio, Associated Press A flow of recent data from the U.S. government has made one thing strikingly clear: A surge in consumer spending is fueling strong growth, demonstrating a resilience that has confounded economists, Federal Reserve officials and even the sour sentiments that… Continue reading
Oct 26 Watch 5:03 News Wrap: U.S. economy grows in 3rd quarter despite inflation and recession fears In our news wrap Thursday, the U.S. economy had a robust third quarter showing resilience despite inflation and recession fears, a strike by Canadian workers paralyzed the vital St. Lawrence Seaway linking the Great Lakes to the Atlantic, UAW workers… Continue watching
Oct 26 U.S. economy grows 4.9 percent, shrugging off interest rates and defying recession forecasts By Christopher Rugaber, Associated Press The nation's economy expanded at a robust 4.9 percent annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace. Continue reading
Oct 19 U.S. may need slower economic growth to beat inflation, Fed chair says By Christopher S. Rugaber, Associated Press Federal Reserve Chair Jerome Powell said inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market. Continue reading
Oct 13 WATCH: Biden touts economy and green energy in Philadelphia speech By Will Weissert, Associated Press President Joe Biden returned to Pennsylvania Friday to use the critical battleground state again as a backdrop for some of his favorite political themes. But the war between Israel and Hamas has scrambled geopolitics and potentially reshuffled a 2024 presidential… Continue reading