A Republican president-elect pledges support for expansive tariffs as a means of protecting U.S. businesses and hamstringing global competitors. That description may conjure up former President Donald Trump, but it also applies to Herbert Hoover, who led the country nearly […]
What to know about the Smoot-Hawley tariffs and what their legacy means for Trump Read More »
WASHINGTON — Consumer price increases accelerated last month, the latest sign that inflation’s steady decline over the past two years has stalled in recent months. According to the Federal Reserve’s preferred inflation gauge, consumer prices rose 2.3% in October from
US inflation gauge ticks higher with price pressures still stubborn Read More »
WASHINGTON — The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. U.S. gross domestic
US economy grows at 2.8% pace in third quarter on consumer spending Read More »
The number of Americans applying for unemployment benefits fell again last week, remaining near seven-month lows. The Labor Department reported Thursday that jobless claim applications fell by 6,000 to 213,000 for the week of Nov. 16. That’s fewer than the
US applications for jobless benefits fall to 213,000, remaining near 7-month lows Read More »
WASHINGTON — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which
US wholesale inflation picks up slightly in sign that some pressures remain elevated Read More »
WASHINGTON — The House has passed legislation that would provide full Social Security benefits to millions of people, pushing it one step closer to becoming law. The Social Security bill on Tuesday won bipartisan support in the House, 327-75, in
What to know about the congressional push to expand Social Security benefits Read More »
WASHINGTON — Americans stepped up their spending at retailers last month in the latest sign that healthy consumer spending is driving the economy’s steady growth. Retail sales rose 0.4% from September to October, the Commerce Department said Friday, a solid
Retail sales up solidly in October as Americans showed continued willingness to spend Read More »
The number of Americans applying for unemployment benefits fell to their lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for
Number of Americans filing for unemployment falls to lowest level in 6 months Read More »
Consumer prices rose 2.6% in October compared to a year ago, ticking upward from the previous month and reversing some of the cooldown achieved in recent months, U.S. Bureau of Labor Statistics data on Wednesday showed. The fresh report matched
Inflation accelerated in October, offering first look at prices since election Read More »
Federal Reserve Chair Jerome Powell struck a defiant tone this week when posed with the question of whether he would resign from his position if asked by President-elect Donald Trump. “No,” Powell said, pausing to let the one-word answer register
Fed chair says Trump can’t remove him. Could Trump still influence interest rates? Read More »
