Aug 17 Biden’s approval rating on the economy stagnates despite slowing inflation, AP-NORC poll finds By Josh Boak, Emily Swanson, Associated Press Only 36 percent of U.S. adults approve of Biden's handling of the economy, slightly lower than the 42 percent who approve of his overall performance. Continue reading
Jul 27 How a ‘rolling recession’ or a ‘richcession’ could spare the rest of the economy from a downturn By Christopher Rugaber, Associated Press The latest snapshot of the economy coincides with rising sentiment that it may achieve an elusive "soft landing." Analysts point to two trends that might help stave off an economic contraction. Continue reading
Jun 14 WATCH: Fed Chair Powell announces interest rates will remain unchanged as inflation eases By Christopher Rugaber, Associated Press The Fed’s move to leave its benchmark rate at about 5.1 percent, its highest level in 16 years, suggests that it believes the much higher borrowing rates it’s engineered have made some progress in taming inflation. Continue reading
Jun 12 UBS completes takeover of Credit Suisse in deal meant to stem global financial turmoil By Geir Moulson, Courtney Bonnell, Associated Press The announcement comes nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland's reputation as a global financial center and choke off market turmoil. Continue reading
Jun 02 Both U.S. hiring and unemployment jumped last month. Here’s what that says about the economy By Christopher Rugaber, Associated Press Many industries, from construction to restaurants to health care, are still adding jobs to keep up with consumer demand and restore their workforces to pre-pandemic levels. Yet there were some mixed messages in the jobs figures. Continue reading
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 23 Watch 5:43 How the U.S. national debt reached $31.4 trillion By Lisa Desjardins, Kyle Midura If you stacked up the full debt of the United States in hundred dollar bills, you could make not one, not two, but 13 piles of cash as tall as the Washington Monument. Lisa Desjardins takes a look at what… Continue watching
May 22 Here’s what would happen to the global economy if the U.S. defaults on its debt By Paul Wiseman, Associated Press If the debt crisis roiling Washington were eventually to send the U.S. crashing into recession, America's economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the world. Continue reading
May 16 WATCH: Executives from failed banks face Senate questions on risk management By Ken Sweet, Associated Press Along with questions about how these banks failed, senators used the hearing to also address executive pay and whether senior executives in the U.S. are being rewarded more for short-term gains than for ensuring their companies’ long-term health. 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