Jul 25 Yellen downplays U.S. recession risk as economic reports loom By Christopher Rugaber, Associated Press Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Continue reading
Jul 13 U.S. inflation at 9.1 percent, a record high By Christopher Rugaber, Associated Press Surging prices for gas, food and rent catapulted U.S. inflation to a new four-decade peak in June, further pressuring households and likely sealing the case for another large interest rate hike by the Federal Reserve, with higher borrowing costs to… Continue reading
Jul 08 Watch 6:02 Strong jobs report staves off fears of a recession amid rising prices Despite worries about whether the U.S. is sliding into a recession, Friday's surprisingly strong jobs report suggests otherwise. The U.S. has averaged adding nearly 375,000 new jobs a month for the past three months, and private sector employment has returned… Continue watching
Jun 20 President Biden says he’s considering a federal holiday on the gasoline tax By Aamer Madhani, Associated Press The administration is increasingly looking for ways to spare the public from higher prices at the pump, which began to climb last year and surged after Russia invaded Ukraine in February. Gas prices nationwide are averaging just under $5 a… Continue reading
Jun 19 Yellen says economy will slow but a recession is not ‘inevitable’ By Aamer Madhani, Associated Press Yellen offered a dose of optimism even as economists grow increasingly worried about a recession fueled by skyrocketing inflation and the Russian invasion of Ukraine. Continue reading
Jun 16 President Biden says a recession is ‘not inevitable’ By Josh Boak, Associated Press President Joe Biden says the American people are "really, really down" after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are hitting family budgets. Continue reading
Jun 15 Watch 5:36 Federal Reserve implements highest interest rate hike in decades to combat inflation By Paul Solman, Courtney Norris, Tommy Walters The Federal Reserve on Wednesday ramped up its efforts to fight inflation with a notable interest rate hike. Officials voted to raise rates by three-quarters of a point, a jump higher than expected just a week ago. Fed chair Jerome… Continue watching
Jun 14 What is the yield curve and how could it warn of the next recession? By Associated Press One of the more reliable warning signals for an economic recession started blinking again. Treasurys, the IOUs the U.S. government gives to investors who lend it money are at the center of the investing world. Continue reading
May 06 Watch 3:24 News Wrap: April jobs report shows hiring still strong despite inflation In our news wrap Friday, April's jobs report shows the U.S. gained 428,000 net jobs despite inflation, supply shortages and rising interest rates. Also, Republican Rep. Marjorie Taylor Greene will be allowed to seek reelection, the Irish nationalist party Sinn… Continue watching
Jan 12 Inflation jumps 7 percent, the biggest increase since 1982, as Americans increase spending By Christopher Rugaber, Associated Press Prices paid by U.S. consumer jumped 7% in December from a year earlier, the highest inflation rate since 1982 and the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's… Continue reading