News
Despite a new chairman and shorter statements, the Fed has stopped talking interest rate cuts
2+ hour, 48+ min ago (253+ words) Fed may be leaning toward increasing rates. The Federal Reserve left interest rates alone last Wednesday, holding its benchmark in the 3. 50%3. 75% range for a fourth straight meeting after standing pat in January, March, and April in a unanimous 120 vote. That…...
Unemployment applications fell to 226, 000 last week, layoffs historically low: Labor Department
3+ day, 10+ hour ago (394+ words) US unemployment benefits applications fell to 226, 000 last week, with layoffs remaining historically low, offering a real-time indicator of how the labor market is doing Initial jobless claims for unemployment benefits fell last week, with layoffs remaining at the historically low…...
Labor Department puts states on notice over unemployment insurance fraud
4+ day, 7+ hour ago (286+ words) California, New York, and Illinois home to "glaring" waste, fraud, and abuse. The Labor Department on Wednesday put a total of 53 states and U. S. territories on notice that they must take "immediate action" against'waste, fraud, and abuse in unemployment insurance (UI)…...
Federal Reserve holds interest rates steady in Warsh's first meeting as chair
4+ day, 11+ hour ago (260+ words) Wholesale business inflation was over 6% in May and overall consumer inflation was over 4%, stemming from the economic pressure of the war in Iran. Federal Reserve holds interest rates steady in Warsh's first meeting as chair Wholesale business inflation was over…...
Kevin Warsh to lead his first Federal Reserve interest rate meeting on Wednesday
5+ day, 7+ hour ago (179+ words) Federal Reserve Chairman Kevin Warsh is expected to lead his first interest rate meeting Wednesday, which will be followed by a press conference from which borrowers and investors will be able to assess his plans to keep the U. S. economy on…...
Economic indicator shifts and household budgeting
6+ day, 5+ hour ago (134+ words) Just The News Economic indicator shifts and household budgeting "I was going to get a motorcycle so I would spend less on gas, and now gas prices are going down." Amanda Head & John Solomon confirm that crude oil benchmarks have…...
Former Trump economist says Iran deal means big economic boom for US
6+ day, 10+ hour ago (367+ words) Stephen Moore, former White House economic advisor for Trump, says the U. S. is on the cusp of a powerful economic surge. President Trump's attendance at the G7 summit in France has sparked discussions about what the Iran peace deal could mean for…...
Debt will balloon to 123% of entire US economy by 2036 without action from Congress: GAO
1+ week, 23+ hour ago (763+ words) "Over the long term, it is unsustainable for debt to grow faster than the economy grows," the GAO report says. The public debt is projected to "grow more than twice as fast as the economy over the next 10 years, reaching…...
Annual inflation was 4. 2% in May: Labor Department
1+ week, 4+ day ago (184+ words) Just The News Annual inflation was 4. 2% in May: Labor Department May's inflation rate was 0. 5% higher than April's The cost of goods and services increased in May by 4. 2%, compared to 12 months earlier, the federal Bureau of Labor Statistics reported Wednesday. The…...
Bessent backs 3% deficit goal despite 5% budget forecasts
2+ week, 1+ day ago (548+ words) The Congressional Budget Office projected in February that the federal deficit will reach $1. 9 trillion, or 5. 8% of GDP, in fiscal year 2026 U. S. Treasury Secretary Scott Bessent pledged in two congressional hearings this week to cut the federal deficit to 3% of GDP, a…...