Aug 28 Watch 6:11 Fed Chair Warsh not ruling out interest rate hike amid inflation concerns By Amna Nawaz, Karina Cuevas, Amalia Huot-Marchand Federal Reserve Chair Kevin Warsh said there is still work to do on inflation. At the Fed’s annual economic symposium in Jackson Hole, Wyoming, Warsh also said that although he is not committed to a rate hike, he is not… Continue watching
Aug 26 U.S. economy expanded at sluggish 1.5% pace in second quarter, on par with earlier estimate By Paul Wiseman, Associated Press The U.S. economy grew at a sluggish 1.5% pace from April through June. But consumer spending stayed strong. Continue reading
Aug 25 With gas stuck above $4, U.S. consumer confidence falls to lowest level in 7 months By Matt Ott, Associated Press The Conference Board said Tuesday that its consumer confidence index dipped to 89.4 in August from 90.2 in July. Continue reading
Aug 19 An alarmed bond market gets the Trump administration to act again By Stan Choe, Christopher Rugaber, Associated Press Normally quiet, the bond market can occasionally send warning signals loud enough to hit stock markets worldwide and even grab the attention of U.S. presidents and other world leaders. Continue reading
Aug 12 Bessent said the K-shaped economy 'is over.' Here's what financial experts say By Maria Ramirez Uribe At a time when many Americans remain stressed about affordability, Treasury Secretary Scott Bessent has declared that the U.S. economy is no longer in a “K shape,” a term used to describe increasing financial inequality between high- and low-income households. Continue reading
Aug 11 Watch 7:09 Credit card debt surges in U.S. as high interest rates make it harder to pay off By Paul Solman, Ryan Connelly Holmes Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics… Continue watching
Aug 11 U.S. stocks edge further from their records as oil prices keep swinging By Stan Choe, Associated Press U.S. stocks slipped a bit further from their records Tuesday, while oil prices kept swinging on uncertainty about when the war with Iran will allow crude to flow freely again. Continue reading
Aug 07 Watch 5:30 What the July jobs report reveals about the strength of the economy By Amna Nawaz, Andrew Merlis New labor data shows the U.S. economy lost 23,000 jobs in July, when economists had predicted modest growth. Revised numbers for May and June also show 103,000 fewer jobs created than originally reported. The unemployment rate ticked down, from 4.2%… Continue watching
Aug 07 U.S. employers unexpectedly cut 23,000 jobs amid strain from the Iran war, unemployment dips to 4.1% By Paul Wiseman, Associated Press U.S. employers unexpectedly cut 23,000 jobs last month, and Labor Department revisions shaved 103,000 jobs off payrolls in May and June. The unemployment rate dipped to 4.1% only because Americans left the job market. Continue reading
Jul 31 Major oil companies reap massive profits as U.S. and Iran fighting drives energy prices higher By Cathy Bussewitz, Associated Press American oil and gas giants raked in massive spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages. Continue reading