May 26 Britain's Treasury chief says that recession may be necessary to lower inflation By Pan Pylas, Associated Press Following higher-than-anticipated inflation figures this week, Jeremy Hunt says it's necessary to prioritize measures to slow the pace of price increases. Continue reading
May 22 Public approval of Biden's approach to economy and gun policy remains low, AP-NORC poll finds By Aamer Madhani, Emily Swanson, Associated Press Just 33% of American adults say they approve of President Joe Biden’s handling of the economy and only 24% say national economic conditions are in good shape. Continue reading
May 18 As high inflation continues, split on strategy among Federal Reserve officials By Christopher Rugaber, Associated Press The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight… Continue reading
May 15 Why Americans are holding on to their vehicles longer than ever By Tom Krisher, Associated Press Blame it mainly on the pandemic, which in 2020 triggered a global shortage of automotive computer chips, the vital component that runs everything from radios to gas pedals to transmissions. Continue reading
May 11 Bank of England raises interest rates to highest level since 2008 By Pan Pylas, Associated Press Like other central banks around the world, the Bank of England has sought to keep a lid on inflation, which over the past year has been fueled by Russia's invasion of Ukraine. Continue reading
May 10 Watch 7:08 Chicago Federal Reserve president on inflation and economic uncertainty By Geoff Bennett, Dorothy Hastings The Federal Reserve has been laser-focused on bringing down prices, raising interest rates 10 times in the last 14 months. But economic uncertainties remain, including the consequences of much higher interest rates, a debt limit standoff and recent bank collapses. Continue watching
May 10 U.S. prices rose in April, showing inflation pressures persist By Christopher Rugaber, Associated Press Consumer prices in the United States rose again in April, and measures of underlying inflation stayed high, suggesting that rising costs could persist for months to come. Continue reading
May 03 Fed raises interest rate again but hints it may pause due to bank turmoil By Christopher Rugaber, Associated Press The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level in 16 years. Continue reading
May 01 Workers call for labor rights, economic justice at May Day rallies across the globe By Angela Charlton, Hyung-Jin Kim, Associated Press They are calling for higher salaries, reduced working hours and other better working conditions. May Day is observed in many countries as a day to celebrate workers’ rights. Continue reading
Apr 27 Watch 5:23 What the latest GDP report says about the strength of the U.S. economy By Paul Solman, Ryan Connelly Holmes The newest GDP data suggests the U.S. economy is slowing down. Consumers are still spending and companies are still hiring and investing, but it’s not at the same pace as last year. At the same time, the economy continues to… Continue watching