Economy

Wholesale prices increased less than expected in October, adding to hopes that inflation is on the wane, the Bureau of Labor Statistics reported Tuesday. The produce price index, a measure of the prices that companies get for finished goods in the marketplace, rose 0.2% for the month, against the Dow Jones estimates for a 0.4%

Countries should strike up more economic alliances than security and defense ones, as those could make the world “more dangerous,” the president of the Center for China and Globalization said on Tuesday. Doing that would also circumvent a slide toward deglobalization, which could hold back economic development across the world. The U.S. for example, could

Federal Reserve Governor Christopher Waller said Wednesday he’s open to reducing the level of interest rate increases soon, so long as the economic data cooperates. The rate-setting Federal Open Market Committee is set to meet Dec. 13-14. Market expectations are running high that policymakers will approve another rate hike, but this time opting for a

Luis Alvarez | Digitalvision | Getty Images Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances, the Federal Reserve reported Tuesday. Total debt jumped by $351 billion for the July-to-September period, the largest nominal quarterly increase since 2007, bringing

Shoppers are seen in a Kroger supermarket on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | AFP | Getty Images Higher interest rates, a potential recession and persistently high prices made consumers substantially less confident about the current state of the economy as well as where things are heading, according to a closely watched

A Now Hiring sign at a Dunkin’ restaurant on September 21, 2021 in Hallandale, Florida. Joe Raedle | Getty Images The unemployment rate for Black men ticked down in October while it rose for most other groups, but that may be because workers are dropping out of the labor force. The October nonfarm payrolls print

The cost of labor rose less than expected, but low productivity helped keep the pressure on inflation in the third quarter, according to Labor Department data released Thursday. Unit labor costs, a measure of productivity against compensation, increased 3.5% for the July-to-September period, below the 4% Dow Jones estimate and down from 8.9% in the

Halloween candy is for sale at a Harris Teeter grocery store on October 17, 2022 in Washington, DC. Drew Angerer | Getty Images An economic gauge that the Federal Reserve follows closely showed that inflation stayed strong in September but mostly within expectations, the Bureau of Economic Analysis reported Friday. The core personal consumption expenditures

The U.S. budget deficit was sliced in half for fiscal 2022, the biggest drop in history following two years of huge Covid-related spending. Though still large in historical terms, the budget shortfall declined to $1.375 trillion, compared to the 2021 deficit of $2.776 trillion. The decline would have been steeper had it not been for

Juan Espinoza, far left, with his family. A combination of rising interest rates, high home values and limited inventory has been squeezing prospective homebuyers — and perhaps few know that as well as Juan Espinoza does. The 23-year-old resident of Santa Ana, California, has been on a three-year search for a dwelling that’s within the

Customers shop at the GU Co. store in the SoHo neighborhood of New York, US, on Friday, Oct. 7, 2022. Gabby Jones | Bloomberg | Getty Images Consumer spending was flat in September as prices moved sharply higher and the Federal Reserve implemented higher interest rates to slow the economy, according to government figures released

A gasoline nozzle pumps gas into a vehicle in Los Angeles, California on August 23, 2022. Frederic J. Brown | AFP | Getty Images Inflation expectations and the outlook for household spending growth fell sharply in September as the Federal Reserve’s rate increases take hold in the U.S. economy. Consumers expect the inflation rate a

The Go! Go! Curry restaurant has a sign in the window reading “We Are Hiring” in Cambridge, Massachusetts, July 8, 2022. Brian Snyder | Reuters September’s jobs report provided both assurance that the jobs market remains strong and that the Federal Reserve will have to do more to slow it down. The 263,000 gain in

U.K. mortgage rates have skyrocketed since Finance Minister Kwasi Kwarteng’s mini-budget on Sept. 23, prompting banks to pull mortgage products threatening a deepen an expected housing market downturn. Dan Kitwood | Getty Images LONDON — There are growing fears of a housing market crash in the U.K., after a swathe of tax cuts announced by

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates,

Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, U.S., May 3, 2019. Scott Morgan | Reuters Researchers applied the Inflation Reduction Act’s new 15% corporate minimum tax onto 2021 company earnings and found that the burden would only be felt by about 78 companies, with Berkshire Hathaway

The Bank of England warned that the U.K. will enter recession later this year. The expected recession is forecast to be the longest since the global financial crisis. Vuk Valcic | SOPA Images | LightRocket | Getty Images LONDON — The Bank of England voted to raise its base rate to 2.25% from 1.75% Thursday,

In this article WFC Huntstock | Disabilityimages | Getty Images Turbulent times may be ahead for Hispanic workers, a new report from Wells Fargo found. The firm expects Latino workers to take an outsized hit if a mild recession happens in 2023, like it is projecting. “The Hispanic unemployment rate tends to rise disproportionately higher