Feb 15 American consumers retail sales jump as Americans defy inflation and rate hikes By Christopher Rugaber, Associated Press America's consumers rebounded last month from a weak holiday shopping season by boosting their spending at stores and restaurants at the fastest pace in almost two years, underscoring the economy's resilience in the face of higher prices and multiple interest… Continue reading
Feb 14 Watch 4:54 News Wrap: Inflation eases in January compared to last year In our news wrap Tuesday, inflation at the consumer level eased in January from a year earlier, President Biden is naming two new economic policy advisers, U.S. senators got a classified briefing on the series of unidentified objects shot down… Continue watching
Feb 14 WATCH: White House says the number of people with medical debt fell by 8.2 million By Josh Boak, Associated Press The number of people with medical debt on their credit reports fell by 8.2 million — or 17.9 percent — between 2020 and 2022, according to a report Tuesday from the U.S. Consumer Financial Protection Bureau. Continue reading
Feb 14 WATCH: Biden warns of crisis if the debt ceiling isn't raised By Fatima Hussein, Chris Megerian, Associated Press President Joe Biden and Treasury Secretary Janet Yellen warned Tuesday of a potential economic crisis if a deal isn't reached to increase the federal debt ceiling. Continue reading
Feb 04 Ahead of State of the Union, Biden's economic optimism not shared by GOP By Josh Boak, Associated Press President Joe Biden sees a nation with its future aglow. Republicans take a far bleaker view — that the country is beset by crushing debt and that Biden is largely responsible for inflation. Continue reading
Feb 01 Interest rate boosted again by quarter-point as Fed signals more hikes to combat inflation By Christopher Rugaber, Associated Press The central bank’s latest move put its benchmark short-term rate in a range of 4.5 percent to 4.75 percent, its highest level in about 15 years. Continue reading
Feb 01 WATCH: White House speaks on police reform, Biden's meeting with McCarthy By Associated Press The White House is facing fresh pressure to advance the issue of police reform as Vice President Kamala Harris was called to the pulpit at the funeral for Tyre Nichols. Continue reading
Jan 31 Europe shows slight economic growth in final quarter of 2022 By David McHugh, Associated Press Europe’s economy scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants. Continue reading
Jan 31 IMF increases expected growth for the global economy in 2023 By Paul Wiseman, Associated Press The IMF, a 190-country lending organization, foresees inflation easing this year, a result of aggressive interest rate hikes by the Federal Reserve and other major central banks. Continue reading
Jan 31 U.S. wage growth slowed in the last quarter of 2022 By Christopher Rugaber, Associated Press Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022 which could help reassure the Federal Reserve that wage gains won't fuel higher inflation. Continue reading