The Commerce Department said the gross domestic product picked up in the April-June quarter.
economy
Posted inElection 2024, Nation & World, News, Politics
Biden’s legacy: Far-reaching accomplishments that didn’t translate into political support
Historians and political advisers say history will be kinder to President Joe Biden than voters have been.
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Posted inBusiness
IMF’s economic view: Brighter outlook for China and India but tepid global growth
Overall, the International Monetary Fund said it still expects the world economy to grow a lackluster 3.2% this year.
Posted inBusiness, Nation & World, News
Fed chair Jerome Powell not prepared ‘yet’ to say he’s confident about inflation
The Fed chair has avoided giving any strong signals on the timing of interest rate cuts, though he has emphasized policymakers face risks from both moving too quickly or too slowly to take action.
Posted inBusiness
U.S. employers add solid 206,000 jobs in sign of continued economic strength
Despite consistent hiring, relatively few layoffs and gradually cooling inflation, many Americans have been exasperated by still-high prices.
Posted inBusiness
Fed chair: U.S. inflation cooling again, though it isn’t yet time to cut rates
If the Fed cuts rates too soon, inflation could re-accelerate. But if it waits too long to reduce borrowing costs, it risks weakening the economy so much as to potentially cause a recession.
Posted inBusiness, Nation & World
Fed diverges from global peers in new era of higher for longer
The Fed staying on hold raises questions around harmful foreign-exchange volatility and risks undermining progress on getting inflation down, according to analysis by Bloomberg Economics.
Posted inBusiness, Nation & World, News
Yellen says China’s trade policies could ‘interfere significantly’ with U.S. bilateral relationship
Yellen’s speech comes as former President Donald Trump presents his case before the Business Roundtable in Washington, an association of more than 200 CEOs, for why the economy would be better if he returned to the Oval Office.
Posted inBusiness, Nation & World, News
Inflation pressures lingering from pandemic are keeping Fed rate cuts on pause
In the U.S., a big reason why inflation remains above the Fed’s target is that distortions stemming from the pandemic are still keeping prices elevated.
Posted inBusiness, Nation & World, News
Major retailers are offering summer deals to entice inflation-weary shoppers
Target, Walmart and other chains have rolled out price cuts – some permanent, others temporary – with the stated aim of giving their customers some relief.