News
From unfilled gas tanks to fewer frills, retailers see U. S. consumers rethink their spending
5+ hour, 50+ min ago (1142+ words) NEW YORK " U. S. consumers haven't stopped spending money since the Iran war drove up fuel prices, but many shoppers are reassessing what they buy and where, according to company executives and retail analysts. But the new signs of strain cited by…...
Key inflation gauge worsens, eroding Americans" income and spending power
1+ week, 3+ day ago (198+ words) WASHINGTON " A key inflation gauge accelerated in April to the highest level in three years, the latest sign that spiking gas prices and higher food costs are squeezing Americans" finances. Inflation jumped to 3. 8% in April compared with a year ago,…...
U. S. jobless claims rise to 215, 000, but layoffs remain low despite Iran war uncertainty
1+ week, 3+ day ago (226+ words) WASHINGTON " More Americans sought unemployment benefits last week, but layoffs remain low despite economic uncertainty caused by the Iran war. The Labor Department reported Thursday that jobless claims were up to 215, 000, up from 210, 000 the week before. The four-week moving average…...
Key inflation gauge worsens as Americans" income and spending power erodes
1+ week, 3+ day ago (629+ words) WASHINGTON " A key inflation gauge accelerated in April to the highest level in three years, squeezing Americans" finances and creating political challenges for President Trump and congressional Republicans with midterm elections just five months away. Inflation jumped to 3. 8% in April…...
As U. S. stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows
1+ week, 5+ day ago (542+ words) WASHINGTON " U. S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices hovering near record levels. The Conference Board's consumer confidence index slipped 0. 7 points to 93. 1 in May, the first…...
Warsh is sworn in as the Fed chair after Trump's bid for greater control over the independent bank
2+ week, 2+ day ago (758+ words) WASHINGTON " President Donald Trump on Friday oversaw the White House swearing-in of the new Federal Reserve chair and said he would like Kevin Warsh's help in stimulating the economy even as he tried to emphasize that the nation's central bank…...
Walmart delivers another strong quarter but also a cautious outlook due to economic uncertainty
2+ week, 3+ day ago (624+ words) NEW YORK " Walmart delivered another quarter of impressive sales as speedy deliveries and low prices served as a magnet for shoppers across the income spectrum. Yet like other major retailers posting financial results this week, it was cautious about the…...
Joshua Schubert: Markets have already solved the minimum wage debate
2+ week, 6+ day ago (580+ words) Raising the minimum wage would have minimal impact on Pennsylvania's economy. That's not just my opinion; that's precisely what the current administration " the very same one pushing for a $15-per-hour minimum wage " admitted. Legislating a higher minimum wage is, in…...
Powell's legacy at the Fed to be shaped by his misjudging inflation and standing up to Trump
3+ week, 2+ day ago (1389+ words) WASHINGTON " When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs. Now, as Powell steps down from the…...
Average U. S. long-term mortgage rate eases to 6. 36% in 1st drop after 2 straight weekly increases
3+ week, 3+ day ago (134+ words) Trib LIVE. com The average long-term U. S. mortgage rate edged lower this week, its first drop after rising the previous two weeks. The benchmark 30-year fixed rate mortgage rate fell to 6. 36% from 6. 37% last week, mortgage buyer Freddie Mac said Thursday. One…...