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
Jul 30 Watch 7:32 Breaking down the GDP report as U.S. economy slows in 2nd quarter By Amna Nawaz, Jackson Hudgins, Katie Marlow In a sign that the war in Iran may be weighing on economic growth, the U.S. economy saw a slowdown in the second quarter. That’s according to a new report today from the Commerce Department. It all comes after the… Continue watching
Jul 29 Watch 6:32 Single women are outpacing single men in homeownership, but some face backlash By Paul Solman, Diane Lincoln Estes In the U.S., 20 million single women own homes, almost three million more than single men. Economics correspondent Paul Solman explores why women are deciding to buy and the unexpected fallout some face. Continue watching
Jul 28 Americans' confidence in U.S. economy falls again as Iran conflict sends gas prices higher By Matt Ott, Associated Press Americans remain soured on the economy after five years of elevated inflation, potentially posing a risk to President Donald Trump and Republicans in the midterm elections. Continue reading
Jul 24 Gas, groceries and back-to-school items are where shoppers might see higher oil prices surface By Anne D'Innocenzio and Cathy Bussewitz, Mae Anderson, Associated Press Already feeling pinched since the start of the Iran war, consumers are likely to feel more pain ahead as oil prices pushed past $100 a barrel Thursday amid renewed fighting and military strikes that have left global oil supplies stranded… Continue reading