News
Hundreds of economists say ‘we must act now’ on AI’s economic impact and job displacement risks
2+ hour, 23+ min ago (194+ words) SAN FRANCISCO — Hundreds of economists say in an open letter that institutions “must act now” to address how artificial intelligence could transform the economy and could put many people out of work. The statement released Monday was signed by top…...
Massive AI buildout poses latest inflation threat as consumers pay more for laptops and electricity
14+ hour, 14+ min ago (787+ words) American consumers — and the Federal Reserve — are being hit with another high-cost headache. The gusher of investment in data centers — likely topping $700 billion this year — to power artificial intelligence has made memory chips, computer processors, and other equipment, as well…...
PepsiCo says economic concerns weighed on customers in North American during recent quarter
4+ day, 6+ hour ago (448+ words) NEW YORK — PepsiCo reported stronger-than-expected revenue in the second quarter despite weaker demand in North America, where it said consumers tightened their budgets as the Iran war caused gas prices to spike. “I think the consumer is worse than what…...
Trump heralds Walmart price drops as inflation, cost-of-living concerns remain high
1+ week, 3+ hour ago (345+ words) President Trump said Monday that retailer Walmart will lower prices on many of its products, including the cost of beef, after his administration requested price drops to coincide with the nation’s 250th anniversary. Mr. Trump said Walmart is “stepping up in…...
Stocks remain investors’ strongest hedge against inflation
1+ week, 6+ day ago (137+ words) Washington Times WATCH: IndoPac 2026 Naval Dominance: Shipbuilding, Autonomy & C2 WATCH: The Sitdown With Alex Swoyer C.J. Pearson on faith, family and fighting for Gen Z Stocks remain investors’ strongest hedge against inflation History shows equities can beat bonds, rates and rising prices…...
Consumer confidence ticks up as gas prices fall but Americans remain gloomy about the economy
1+ week, 6+ day ago (416+ words) WASHINGTON — Americans’ attitudes toward the economy improved slightly this month as gas prices declined, but their outlook is still mostly negative by historical standards. The Conference Board said Tuesday that its consumer confidence index rose 0.6 point to 91.2 in June, a…...
Europe’s central bank head defends its recent rate hike to fight inflation
2+ week, 1+ hour ago (399+ words) FRANKFURT, Germany — The head of the European Central Bank defended its June 11 rate hike as justified to ward off real inflationary pressures and said it wasn’t just a mere “insurance hike.” ECB head Christine Lagarde said Monday that without the…...
Farm Bureau: July Fourth cookouts are cheapest in 10 years after inflation
2+ week, 3+ day ago (962+ words) An annual survey finds the cost of an Independence Day cookout has risen to a 10-year high of $7.38 per person, but remains the cheapest in this period after adjusting for inflation. The American Farm Bureau Federation estimates that feeding 10 people…...
Key inflation gauge jumps to 3-year high in latest sign of affordability challenges
2+ week, 4+ day ago (694+ words) WASHINGTON — The Federal Reserve’s preferred inflation gauge rose to a new three-year high in May as gas prices peaked, a sign rising costs could pose political problems for President Donald Trump and his political party as midterm elections near. Consumer…...
All 32 of the nation’s biggest banks clear the Fed’s annual ‘stress test’
2+ week, 5+ day ago (266+ words) NEW YORK — All 32 of the nation’s biggest banks passed the Federal Reserve’s annual “stress test” of the financial system, the central bank said Wednesday, a sign that the banking system would remain healthy even if a major economic contraction occurred....