Jul 28 WATCH: Biden downplays troubling economic report, focuses on measures to tame inflation By Josh Boak, Zeke Miller, Associated Press Republicans say Thursday's report showing the economy shrank for the second consecutive quarter is evidence of a "Biden recession." Biden pointed to near-record-low unemployment and signs of continued business investment in the economy. Continue reading
Jul 28 Watch 9:19 Senate agreement on climate change, health care revives Biden’s legislative agenda Senate Democrats are lauding a deal on a spending package to reduce the deficit, lower health care costs, raise corporate taxes and combat climate change. It's a stunning development after more than a year of negotiations had failed to win… Continue watching
Jul 28 Watch 9:02 U.S. economy shrank for the second straight quarter, stoking fears of a recession New data out Thursday shows the U.S. economy shrank for the second straight quarter, raising concerns that the nation might be nearing, if not already in, a recession. The White House pushed back against that idea, pointing to strong job… Continue watching
Jul 28 How to know when a recession has begun By Christopher Rugaber, Associated Press The U.S. economy has contracted for two straight quarters, intensifying fears that it is on the cusp of a recession, if not already in one, barely two years after the pandemic downturn officially ended. Continue reading
Jul 28 WATCH: Treasury Secretary Janet Yellen says ‘our economy remains resilient’ despite recession worries By Associated Press Treasury Secretary Janet Yellen says "our economy remains resilient" despite rising inflation and the worry about a recession. This comes as the U.S. economy shrank from April through June for a second straight quarter. Continue reading
Jul 28 Average U.S. long-term mortgage rates fall slightly to 5.3 percent By Matt Ott, Associated Press Average long-term U.S. mortgage rates retreated this week just as the Federal Reserve announced another big rate hike in its bid to get four-decade high inflation under control. Continue reading
Jul 27 Watch 6:48 Federal Reserve raises interest rates amid stubbornly high prices and recession concerns By Paul Solman, Tommy Walters, Ryan Connelly Holmes The Federal Reserve raised interest rates significantly again Wednesday in a bid to put the brakes on inflation. The economy is no longer running nearly as hot as it did last year, but Fed Chair Jerome Powell said it was… Continue watching
Jul 27 WATCH: Federal Reserve imposes another big rate hike to fight inflation By Christopher Rugaber, Associated Press The Federal Reserve on Wednesday raised its benchmark interest rate by a hefty three-quarters of a point for a second straight time in its most aggressive drive in three decades to tame high inflation. Continue reading
Jul 26 Watch 8:38 Federal Reserve risks recession by raising interest rates to fight inflation The Federal Reserve is expected to raise interest rates again this week by three-quarters of a point. Fed Chair Jerome Powell has made it clear he wants to substantially curb the rate of inflation. But there are serious concerns the… Continue watching
Jul 26 Consumers confidence slides for third straight month By Matt Ott, Associated Press U.S. consumer confidence slid again in July as concerns about higher prices for food and gas continue to weigh on Americans. Continue reading