Economic News

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Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Sept. 20, 2023. The Federal Reserve left its benchmark interest rate unchanged while signaling borrowing costs will likely stay higher for longer after one more hike this year.
Interest Rates Will Stay Higher for Longer, Fed Officials Forecast
Amazon employees working in a warehouse in Bridgewater, Massachusetts
Amazon Holiday Hiring May Counter Sluggish Seasonal Job Market
A Hooverville was a shanty town built during the Great Depression by the homeless in the United States. They were named after Herbert Hoover, who was President of the United States during the onset of the Depression and was widely blamed for it. The term was coined by Charles Michelson, publicity chief of the Democratic National Committee. There were hundreds of Hoovervilles across the country during the 1930s.
The Fed’s Anti-Recession Playbook May Get Harder To Use, Economists Predict
OECD headquarters
OECD Lowers 2024 Outlook on Inflation Impact, Weaker-Than-Expected Recovery in China
The five-star Red flag, the national flag of the People's Republic of China, is fluttering under the blue sky.
U.S. Companies are Less Optimistic About Business Climate in China, Survey Shows
Travelers make their way through Orlando International Airport during the busy Labor Day holiday weekend in Orlando. According to the American Automobile Association, Orlando is a top five Labor Day travel destination. Orlando International Airport is expecting more than 900,000 passengers, a 14 percent increase over 2022.
Americans Took Record-Setting Vacations In Summer Of ‘Revenge Travel’
United Auto Workers (UAW) members on a picket line outside the Stellantis NV Toledo Assembly Complex in Toldeo, Ohio, US, on Monday, Sept. 18, 2023. The United Auto Workers began a strike Friday against all three of the legacy Detroit carmakers, an unprecedented move that could launch a costly and protracted showdown over wages and job security.
Worker Strikes Hit 23-Year High in August
Pump at a gas station
Oil Prices Just Hit a New 10-Month High. What This Could Mean For Your Wallet
close up shot of paystub
Most Americans Living Paycheck to Paycheck This Year, Survey Finds
Lionel Messi #10 of Inter Miami CF looks on during an Inter Miami CF Training Session at Florida Blue Training Center on September 15, 2023 in Fort Lauderdale, Florida.
Here are Four Ways Lionel Messi’s Move to MLS is Boosting the US Economy
U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on July 26, 2023. The U.S. Federal Reserve on Wednesday raised its benchmark interest rates by 25 basis points to the range of 5.25-5.5 percent, the highest level in over two decades, as it continues to ramp up its fight against inflation.
How High For How Long? Fed Meeting Will Give Clues On Interest Rates
A woman pumping gas
US Consumers Still Feeling Gloomy About the Economy
Guanqian Street shopping area in Suzhou, Jiangsu province, China,
China Data Is Encouraging But The Economy Isn’t Turning Around Just Yet
A car that's fallen into a lake, likely a total loss
Car Insurance Premiums Are Going Full Throttle
Two women carrying shopping bags in a retail area
Holiday Retail Sales Projected To Grow, Helped By Strong Job Market
European Central Bank
European Central Bank Hikes Interest Rates Again as Inflation Persists
Truck drivers refuel a tractor-trailer
Rising Energy Prices Made Wholesale Prices Jump in August
 customer pumps gas at a gas station on September 13, 2023 in Petaluma, California. According to a report by the Labor Department, surging gas prices in August contributed to a rise in inflation as consumer spending rose to 3.7 from 3.2 percent in July.
Retail Sales, Mainly Gas, Jumped in August
hawn Fain, president of the United Auto Workers (UAW), center, marches with UAW members and supporters during a Labor Day parade in Detroit, Michigan, US, on Monday, Sept. 4, 2023. The UAW's 150,000 members are threatening a strike on General Motors, Ford Motor Co. and Stellantis NV, maker of the Jeep and Chrysler brands, if a deal with Detroit's big three legacy carmakers is not reached by a September 14 deadline.
How Would an Auto Worker Strike Impact the Economy? Here's What Experts Are Saying
Gas station signboards display prices in Bethesda, Maryland, on Aug. 6, 2023. The American Automobile Association's average price for a gallon of regular gasoline is $3.829, up from $3.331 on January 2, 2023.
Rising Gas Prices Surged in August, Bumping Annual Inflation to 3.7%
A young small business owner using her laptop computer to check a customer’s order details on her website
NFIB Small Business Optimism Index Falls for First Time in 4 Months
College students work in a group.
Has the Workforce Hit Peak College?
Mega South Florida Job Fair
Households' Financial Outlook Worsened in August
Streaming catalog on tablet
Inflation Hits Student Discount Programs as Streaming Companies Raise Prices
A couple holding hands while sitting down at a table and drinking red wine in a restaurant for lunch together,
Student Loan Borrowers Are Repaying Ahead of Schedule
Federal Reserve
Rates Are Fine Now, But Fed Officials Still Worry Over Inflation
Home for Sale
Many From Younger Generations Don’t Expect to Become Homeowners, Redfin Reports
Lower Manhattan Skyline
New York City Economy Tracker: August 21, 2023
Female small business owner working in her leatherwork studio
Small and Mid-Sized Business Owners' Optimism Reaches 21-Year High
Hundred dollar bills held by a person.
Asian Currency Authorities Aim to Halt Declines Against Strengthening US Dollar
Susan M. Collins, president of the Federal Reserve of Boston, speaking on March 31, 2023, on Bloomberg Television
Interest Rates Need To Remain High as Inflation Persists, Fed’s Collins Says
An airplane landing
Goldman Economists Cut Recession Chances To 15%
Florence Pugh joins SAG-AFTRA picket line on August 15, 2023.
Labor Strikes Unlikely to Slow as ‘Hot Strike Summer' Comes to a Close
Passengers in queue at a U.S. airport in 2023
Overcrowding, Flight Delays, Staffing Shortages Marred Summer Air Travel
Engineer designing AI technology with screen reflection on eyeglasses
AI Will Cut Workload for Some Jobs, Forecast for Losses Varies
Beyonc?? Renaissance World Tour
Beyoncé, Taylor Swift, Barbenheimer To Add $8.5 Billion to US Economy in Q3
A man looking worriedly at a computer
Unemployment Rate Edges To Highest in More Than a Year
People checking in for flights at an airport
International Bookings Soar as Americans Boost Labor Day 2023 Travel Plans
Woman holding a cup of coffee and shopping bags
Spending Grew Faster Than Inflation—And Paychecks—In July
Woman staring with arms on a packing box in an office
Layoff Announcements Jumped in August as Companies Reduced Expenses
Photo taken on Oct. 19, 2022 shows a house for sale in Washington, D.C.
Investor Homebuying Has Dropped 45% In Deadlocked Housing Market
U.S. Federal Reserve Headquarters
What Would Happen If the Fed Incurred Losses?
Workers in a restaurant kitchen preparing food
Do You Still Have Leverage in the Job Market? Depends on Your Industry.
Concerned businessman looking at a laptop
For Businesses, Most Of the Pain of Fed’s Rate Hikes Lies Ahead
Exhausted businessman looking at laptop on desk while sitting with male coworker in office.
The Great Resignation Is Officially Over
Immigrants take the oath of allegiance to the United States during a naturalization ceremony held in front of the "Gateway to the Arctic" whale bone sculpture on August 10, 2023 in Utqiagvik, Alaska. Located along the Arctic Ocean, Utqiagvik is the northernmost settlement in the United States. Formerly known as Barrow, the town of nearly 5,000 people is mostly populated by indigenous I???±upiat, but also with a growing immigrant population. This year U.S. Citizenship and Immigration Services (USCIS), who held the ceremony, launched a nationwide effort to bring immigration services to remote locations to help legal immigrants, often green card holders, to become American citizens. In the case of Utqiagvik, petitioners would have normally needed to take the two-hour flight to Anchorage, often multiple times, for citizenship appointments. The USCIS effort puts into effect the Biden Administration's Executive Order 14012, Restoring Faith in Our Legal Immigration Systems and Strengthening Integration and Inclusion Efforts for New Americans. The order, issued on February 2, 2021, instructs U.S. government agencies to promote citizenship through naturalization, improve the naturalization process overall and reduce wait times for applicants. It also revoked a Trump-era memorandum designed to slow and ultimately restrict legal immigration.
Immigration Is Playing a Larger Role of Filling Gaps in the US Labor Force
Exterior of Miniso flagship store.
What a 'Hard Landing' in China Would Mean for the US Economy
 Students at a high school sit in front of a computer and use an AI tool.
AI Revolution Likely Won't Take Jobs but Could Keep Interest Rates High
A steaming, glowing mass of smoke stacks and distillation towers connected by conduit and pipe racks towers in the early morning light in front of the Port of Los Angeles.
US Companies Do Greenhouse Gas Damage Equal To 18.5% Of Profits, Study Shows
Jerome Powell, chairman of the US Federal Reserve, second right, arrives for dinner during the Jackson Hole economic symposium in Moran, Wyoming, on Thursday, Aug. 24, 2023.
The Fed is Keeping Its Options Open For More Rate Hikes, Powell Says
The Grand Tetons at sunrise at the Jackson Hole economic symposium in Moran, Wyoming. David Paul Morris / Bloomberg / Getty Images
Fed Officials Are Divided on Need For More Rate Hikes
South African President Cyril Ramaphosa (C) speaks during a press conference with fellow BRICS leaders President of Brazil Luiz Inacio Lula da Silva (L), President of China Xi Jinping (2nd, L), Prime Minister of India Narendra Modi (2nd, R), and Russia's Foreign Minister Sergei Lavrov (R), on the closing day of The BRICS summit at the Sandton Convention Center on August 24, 2023 in the Sandton district of Johannesburg, South Africa.
Saudi Arabia and Iran to Join BRICS Along With Four New Members
A man walks past five foreclosed homes in Chicago, July 21, 2010.
More Than 1 Million U.S. Homes Are Standing Vacant
A man making a video conference call on laptop in home office
Remote Work is Here to Stay, And Employers Aren’t Happy About It
Lower Manhattan Skyline
New York City Economic Tracker: August 7, 2023
Sunset with dramatic light over Duisburg in the Ruhr area, one of Germany's centers of heavy industry
Here's Where Climate Change Could Cause Credit Downgrades
Photo taken on Oct. 19, 2022, shows a house for sale in Washington, D.C.
July Existing Home Sales Fall 2.2%
A customer at the self checkout of a Target store in the Queens borough of New York, US, on Tuesday, May 16, 2023.
More Analysts Believe Economy Will Have A 'Soft Landing'
Donna Howard holds up a sign reading I Got the Job at Suited for Change in Washington, DC, on September 13, 2022.
Average Expected Wages Hit Record High
A couple shopping for a car
The Public Credits the Fed For Stifling Inflation—Here’s Why That Matters