U.S. recession isn’t ‘inevitable,’ but inflation is ‘unacceptably high,’ Treasury Secretary Yellen says
U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S.…
Economy
Everyone knows inflation is on fire. This is what’s really fueling it
Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy…
Homebuilder sentiment drops to lowest level in two years as housing demand slows
A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in…
Here’s what the Federal Reserve’s 0.75 percentage point rate hike — the highest in 28 years — means for you
What the federal funds rate means to you The federal funds rate, which is set by the central bank, is…
The Federal Reserve just hiked interest rates by 0.75 percentage point. How raising rates may help slow inflation
Federal Reserve Chairman Jerome Powell speaks at a news conference following a Federal Open Market Committee meeting on May 4,…
The risk of recession is growing. Here’s why recessions may be inevitable
The U.S. has experienced at least 30 recessions throughout history, dating back as early as 1857. Some economists argue that…
Retail sales posted unexpected 0.3% decline in May as inflation hammers consumers
Retail sales turned negative in May as consumers pulled back spending while inflation surged, the Commerce Department reported Wednesday. Advance…
Fed likely to boost interest rates by three-quarters of a point this week
Markets are beginning to anticipate an even faster pace of interest rate hikes, and Federal Reserve officials apparently are contemplating…
Wholesale prices rose 10.8% in May, near a record annual pace
Wholesale prices rose at a brisk pace in May as inflation pressures mounted on the U.S. economy, the Bureau of…
Expectations for inflation and spending hit record levels in May, New York Fed survey shows
People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. Andrew…
