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 20 Prices soar as Gaza smuggling booms. Officials, soldiers and middlemen are accused of cashing in By Samy Magdy, Associated Press Everything from iPhones and solar panels to fuel and anesthetics are also brought into the tiny coastal territory illegally. Israel restricts quantities of some goods and bans others outright. Continue reading
Aug 19 'Many' Fed officials think higher rates will be needed if inflation stays high By Christopher Rugaber, Associated Press Many Federal Reserve officials think the central bank will have to lift its key short-term interest rate in the coming months if inflation doesn't subside, minutes of the Fed's meeting last month showed. Continue reading
Aug 13 Wholesale price inflation slows last month as gas and food costs fall By Christopher Rugaber, Associated Press Wholesale inflation dropped last month as gas prices reversed some of their Iran war spike and other costs also cooled, a sign that consumer inflation could grind lower in the months ahead. 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 12 Inflation cooled last month as gas prices fell, though costs remain elevated By Christopher Rugaber, Associated Press The modest decline could ease pressure on the Federal Reserve to raise their key interest rate to combat rising costs. Yet prices are still rising more quickly than average wages, underscoring the struggle many Americans have had with more expensive… 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 30 Why lettuce is causing hard times at some restaurants By Dee-Ann Durbin, Associated Press It’s been a choppy year for restaurants that lean into lettuce. Continue reading
Jul 30 Inflation remaining stubbornly high, U.S. economy grows sluggish 1.5% in 2nd quarter By Paul Wiseman, Associated Press Inflation remained above the central bank’s 2% target at a time when Americans are frustrated about the high cost of living ahead of the midterm elections, now less than 100 days away. Continue reading
Jul 29 WATCH: Fed chair Warsh holds news conference after leaving interest rate unchanged By Paul Wiseman, Associated Press The Federal Reserve left its key interest rate unchanged Wednesday despite persistently high inflation and a spike in energy prices caused by the Iran war. Continue reading