Oct 07 WATCH: President Biden praises U.S. jobs data, but seeks ‘stable growth’ By Associated Press President Joe Biden hailed new job numbers Friday, saying the slowdown in job growth shows the United States is transitioning to "more stable growth," although he warns that there is "still a lot of work" to be done. Continue reading
Oct 07 Stocks slump on fears about rates, recession after jobs data By Stan Choe, Associated Press Good news on the economy remains bad news for Wall Street, as stocks fell sharply Friday on worries a still-strong U.S jobs market may actually make a recession more likely. Continue reading
Oct 07 Solid U.S. hiring in September could mean more big Fed hikes By Paul Wiseman, Associated Press America's employers slowed their hiring in September but still added 263,000 jobs, a solid figure that will likely keep the Federal Reserve on pace to keep raising interest rates aggressively to fight persistently high inflation. Hiring fell from 315,000 in… Continue reading
Oct 04 Haiti reaches a breaking point as the economy tanks and violence soars By Evens Sanon, Dánica Coto, Associated Press Daily life in Haiti began to spin out of control last month just hours after Prime Minister Ariel Henry said fuel subsidies would be eliminated, causing prices to double. Continue reading
Oct 04 U.S. job openings fell in August, potentially calming inflation By Christopher Rugaber, Associated Press The number of available jobs in the U.S. plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation. Continue reading
Sep 22 Federal Reserve Chair Jerome Powell says inflation fight may cause a recession By Christopher Rugaber, Associated Press The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Continue reading
Sep 22 WATCH: Heads of major banks testify in Senate Banking Committee hearing By Ken Sweet, Associated Press The CEOs of the nation’s biggest banks were in for a second day of tough questioning from lawmakers Thursday, as Americans face inflation not seen since the early 1980s and a midterm election is only weeks away. Continue reading
Sep 21 Watch 4:51 As Fed raises interest rates to combat inflation, central banks around the world follow By Paul Solman The Federal Reserve raised interest rates once again, adding to the sharpest series of hikes since the 1980s. So far, the Fed has increased rates by three points this year and Chair Jerome Powell says there's more to come. Other… Continue watching
Sep 21 WATCH: Fed raises key interest rate by three-quarters of a point By Christopher Rugaber, Associated Press The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3 percent to 3.25 percent, the highest level since early 2008. Continue reading
Sep 16 Most Americans say they cut back on recent spending as prices rose By Hannah Grabenstein Among U.S. adults, 45 percent say their finances haven’t really changed, and another 18 percent said their situation actually improved compared to last year. But 37 percent said they have taken a hit. Continue reading