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.
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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.
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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.
Posted inBusiness
Target reports sales decline as discretionary spending remains tepid
U.S. consumers remain resilient, though the broader environment remains complicated and challenging, executives said.
Posted inNation & World, News, Politics
Voters prefer Trump over Biden on economy. This data shows why
In an April poll, respondents said by 51% to 32% they were doing better financially under Trump than Biden.
Posted inBusiness, Nation & World, News
Despite numbers showing a healthy economy overall, lower-income spenders are showing the strain
Remarkably resilient spending by U.S. consumers overall has been one of the main reasons the economy has avoided a recession, at least so far.
Posted inBusiness
U.S. employers scaled back hiring in April. How that could let Fed cut interest rates
The Fed has been delaying any consideration of interest rate cuts until it gains more confidence that inflation is steadily slowing.
Posted inBusiness, Nation & World, News
Yellen says threats to democracy risk U.S. economic growth, an indirect jab at Trump
Her remarks serve as a sort of warning for business leaders who may overlook Trump’s disregard for modern democratic norms because they prefer the former president’s vision of achieving growth by slashing taxes.
Posted inBusiness, Nation & World, News
Fed indicated rates will remain higher for longer. What does that mean for you?
The Federal Reserve’s decision Wednesday to keep its benchmark rate at a two-decade high should have ripple effects across the economy.
Posted inBusiness, Nation & World, Politics
Inflation is overshadowing U.S. economic resilience, hurting Biden
Most economists say the underlying momentum of the U.S. economy remains strong. But growth and jobs – which have been surprisingly sturdy – have generated little tangible benefit to Biden’s hopes for reelection.