Friday’s report from the Labor Department showed that employers added 35% fewer jobs in July than forecasters had expected – and that unemployment, now up to 4.3%, is the highest since October 2021.
economy
Posted inBusiness, Nation & World, News
Federal Reserve edges closer to cutting rates. The question will soon be, how fast?
The Federal Reserve is expected to signal this week that it will likely reduce borrowing costs as soon as September.
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Posted inBusiness, Election 2024, Politics
Harris will carry Biden’s economic record into the election. She hopes to turn it into an asset
Former President Donald Trump is campaigning hard on the higher cost of living, having mentioned inflation 14 times in his speech last week at the Republican National Convention.
Posted inBusiness
U.S. economy grew at a healthy 2.8% annual pace last quarter
The Commerce Department said the gross domestic product picked up in the April-June quarter.
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.
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.