Economy

Farmers harvest a wheat field near Melitopol in Ukraine. Wheat, soybean, sugar, and corn futures have fallen from their March highs back to prices seen at the start of 2022. Olga Maltseva | Afp | Getty Images Food prices dropped significantly in July from the previous month, particularly the costs of wheat and vegetable oil,

In this article YUM National Guard troops pose for photographers on the East Front of the U.S. Capitol the day after the House of Representatives voted to impeach President Donald Trump for the second time January 14, 2021 in Washington, DC. Chip Somodevilla | Getty Images In an earnings call Wednesday morning, Yum Brands CEO

Neel Kashkari, Minneapolis Federal Reserve Brendan McDermid | Reuters If you’re debating whether or not the U.S. is in a recession, you’re asking the wrong question, according to a top Federal Reserve official. “Whether we are technically in a recession or not doesn’t change my analysis,” Neel Kashkari, president of the Federal Reserve Bank of

Everyone who cares knows that recessions happen when there are two consecutive quarters of negative growth — everyone, that is, except for the people who actually decide when the economy is in recession. For those folks, at the National Bureau of Economic Research, the definition of recession is much squishier. Officially, the NBER defines recession

In this article GS NEW YORK, NEW YORK – MAY 02: Elon Musk attends the 2022 Costume Institute Benefit celebrating In America: An Anthology of Fashion at Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Sean Zanni/Patrick McMullan via Getty Images) Sean Zanni | Patrick Mcmullan | Getty Images

U.S. Treasury Secretary Janet Yellen (pictured here at a news conference, ahead of the G-20 meeting in Bali on July 14), said supply chain resilience is a key focus of the Biden-Harris administration. Made Nagi | Reuters U.S. Treasury Secretary Janet Yellen has reiterated the need for the United States and its trusted trading partners

A pedestrian carries a shopping bag while walking through Union Square on May 17, 2022 in San Francisco, California. Justin Sullivan | Getty Images Consumer spending held up during June’s inflation surge, with retail sales rising slightly more than expected for the month amid rising prices across most categories, the Commerce Department reported Friday. Advance

Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of avenues that filter into broader measures the government uses to gauge price increases. The big

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., June 15, 2022. Elizabeth Frantz |

U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022. Elizabeth Frantz | Reuters

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from

In this article ULTA M UAL AAL DAL LYV QSR-CA DPZ GM F TAP WEN RDFN MCD TGT A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow. Jim Watson | AFP | Getty

U.S. Treasury Secretary Janet Yellen testifies before a House Ways and Means Committee hearing on President Biden’s proposed 2023 U.S. budget, on Capitol Hill in Washington, June 8, 2022. Jonathan Ernst | Reuters The recession that many Americans fear is coming is not “at all imminent,” Treasury Secretary Janet Yellen said Sunday. Talk of a

Federal Reserve Chair Jerome Powell. Xinhua News Agency | Xinhua News Agency | Getty Images Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point

The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had been

Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with a series of aggressive interest rate increases ahead. “I think the Fed has shown that we’re in the process of recalibrating our policy to get inflation back down to our 2%

Contractors work on concrete slabs in the Cielo at Sand Creek by Century Communities housing development in Antioch, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Builder sentiment in the market for single-family homes fell sharply in May, as mortgage rates shot higher and building material costs showed no

Federal Reserve Chairman Jerome Powell emphasized his resolve to get inflation down, saying Tuesday he won’t hesitate to back interest rate increases until prices start falling back toward a healthy level. “If that involves moving past broadly understood levels of neutral we won’t hesitate to do that,” the central bank leader told the Wall Street