Inflation has started to stall and prices have started to go down, but consumers still report a lack of confidence in the economy.
US inflation eased slightly in July, taking pressure off the Federal Reserve to hike interest rates sharply while bringing a much-needed boost to President Biden just months before the midterm elections.
A Jedi mind trick is in process to convince legislators that prescription drugs are a leading cause of inflation with a 1-2% annual prescription drug CPI increase compared to energy prices (41%), airline tickets (34%) and food (10%).
While consumers return to the supermarket, many balk at the inflation-driven prices.
The Bill Back Better bill will finally go through the Senate as the Inflation Reduction Act.
Employment made a surprise recovery to pre-pandemic levels in July, news that was welcomed by President Joe Biden ahead of key midterm elections.
Global supply chain issues have caused product delivery delays, which added to inflationary pressures.
Neel Kashkari of the Federal Reserve Bank of Minneapolis said Sunday on "Face the Nation" that their focus is still on skyrocketing inflation even as a recession hits.
Rep. Dean Phillips, D-Minn., has emerged as the first Democratic member of Congress to openly oppose President Joe Biden running for a second term.
The Federal Reserve’s preferred inflation index jumped by 6.8% in June, marking the highest annual gain in four decades.
Earlier this month, the Labor Department reported that the consumer price index rose 9.1% in June from the same month in 2021.
The U.S. economy declined by 0.9% in its gross domestic product (GDP) in Q2 2022, technically bringing the U.S. over the threshold of what constitutes a recession.
The Federal Reserve announced that it will be raising interest rates by 0.75 percentage points and acknowledged that its strategy appeared to be causing economic conditions to soften.
As the Federal Reserve appears ready to institute another interest rate hike on Wednesday, Senate Democrats are worried that the Fed may throw the economy into a recession.
Consumer confidence in the United States has fallen for the third consecutive month as Americans continue to pare back spending amid high inflation and rising interest rates.
McDonald's saw its revenue decline by 3% in the second quarter over the closure of its Russia-based restaurants amid the war in Ukraine. The company, however, saw sales rise by 9.7% despite inflationary pressures.
Treasury Secretary Janet Yellen said that a key indicator of recession may not apply to the current economic conditions.
A survey found that 20% Americans are reluctant to review their credit card statements as spending has rebounded.
A weak pair of earnings reports by Twitter and Snap showcase how social media companies are struggling to adapt to a changing market.
Initial unemployment claims in the U.S. surged to an eight-month high in a sign that the labor market may be slowing down, adding to fears that a recession may be inevitable.
Goldman Sachs’ CEO David Solomon issued a stark warning that the world is at risk of seeing global inflation becoming entrenched for years to come if pressures on global economy are not eased.
Retail spending rebounded and increased by 1% despite inflation soaring to a four-decade high in June, but it may reflect higher prices more than increased spending by households.