Amid record inflation, 36% of employees earning $100,000 or more say they are living paycheck to paycheck
More than a third of high-earning American workers feel strapped for cash — a share that has risen dramatically in recent years. Thirty-six percent of...
Federal Reserve attacks inflation with its largest rate hike since 1994
The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its...
Global markets are tanking ahead of a huge week for central banks
Global stock markets are falling sharply after May’s U.S. inflation print reignited fears that central banks will be forced into aggressive monetary policy tightening. Friday’s highly-anticipated consumer...
US Inflation Unexpectedly Accelerates to 40-Year High of 8.6%
US inflation hit a fresh 40-year high in May, unexpectedly accelerating in a broad advance that pressures the Federal Reserve to extend an aggressive series...
Fed GDP tracker shows the economy could be on the brink of a recession
A widely followed Federal Reserve gauge is indicating that the U.S. economy could be headed for a second consecutive quarter of negative growth, meeting a...
Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the...
First-quarter GDP declined 1.5%, worse than thought; jobless claims edge lower
The U.S. economic contraction to start the year was worse than expected as weak business and private investment failed to offset strong consumer spending, the...
Fact Check: ‘Biggest Drop In The DOW Stock Market Ever’ Did NOT Happen During Biden Administration
Did the "biggest drop in the DOW Stock Market Ever" occur during the Biden administration? No, that's not true: A professor of finance at Ivey...
Fact Check: High U.S. Gas Prices In 2022 Are NOT Related To Closed Pipelines
Are high U.S. gas prices in 2022 related to closed pipelines? No, that's not true: The high gas prices in 2022 are mostly attributed to...
Fact Check: Biden’s Economic Spin
By Lori Robertson, Robert Farley, Eugene Kiely and D'Angelo Gore In a speech on inflation and the economy, President Joe Biden made some misleading claims and used political spin to...
Inflation cools slightly to 8.3 percent
Inflation cooled off slightly in April as the pace of both yearly and monthly price growth dropped, according to data released Wednesday by the Labor...
Tax revenue boom fuels steep budget deficit decline
Surging federal tax revenue in April led to the largest monthly budget surplus on record and a dramatically lower deficit through the first seven months of the fiscal year, according to Congressional Budget Office estimates released Monday.April tax receipts totaled $864 billion, driving a $308 billion surplus last month. Both figures would be the largest…
China’s economy slows rapidly as ‘COVID-zero’ lockdowns bite
China’s economic activity contracted sharply in April as the lockdown of Shanghai and other areas around the country to contain a widespread COVID-19 outbreak closed factories, snarled...
FactCheck: Biden’s Deficit Spin
In recent speeches, President Joe Biden has been misleadingly taking credit for cutting federal deficits by historic amounts, though most of the reduction in deficits...
Biden’s Numbers (First Quarterly Update)
Summary Here’s how the U.S. has been performing since President Joe Biden assumed office: The economy regained 7.9 million jobs, getting within 1.6 million of...
Biden budget seeks $10 billion over decade to improve elections, make ballots postage-free
The Biden administration called for spending $10 billion over the next decade to beef up the country’s elections infrastructure as part of the fiscal 2023 budget proposal released Monday.Along with providing “a predictable funding stream for critical capital investments and increased staffing and services,” the budget proposes to expand the Postal Service’s capacity in “underserved…
Rising oil prices could affect thousands of products
American drivers were in for another unwelcome surprise at the pump Monday. The national average for a gallon of gas rose about 5 cents overnight to $4.065, an astonishing 46 cents higher than it was only a week ago, according to AAA, and only a nickel shy of the record set in 2008. With the war…
U.S. crude oil briefly tops $130 a barrel, a 13-year high on possible Western ban of Russian oil
The oil and gas terminal at the Port of Odessa in Odessa, Ukraine, on Saturday, Jan. 22, 2022.Christopher Occhicone | Bloomberg | Getty ImagesU.S. crude oil surged more than 7% in Sunday evening trade as the market continued to react to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and the possibility of a…
U.S. economy smashes expectations with close to 700,000 new jobs in February
1/5 Friday’s report said that job growth was widespread, led by gains in leisure and hospitality, professional and business services, healthcare and construction. File Photo by Roger L. Wollenberg/UPI | License Photo March 4 (UPI) — The U.S. economy added close to 700,000 jobs during the month of February, the Labor Department said Friday in…
U.S. crude stockpiles drop unexpectedly, demand hits record high
Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. Picture taken March 24, 2016. REUTERS/Nick Oxford/File PhotoRegister now for FREE unlimited access to Reuters.comFeb 9 (Reuters) – U.S. crude…