Economy

2024-06-14 19:27:01
by Dan McCue
Nation’s Top Business Leaders Host Trump, Rate Economy ‘Stable’

WASHINGTON — The Business Roundtable, the exclusive group of businesses that is also one of the most powerful lobbying organizations... Read More

WASHINGTON — The Business Roundtable, the exclusive group of businesses that is also one of the most powerful lobbying organizations in the nation, played host to former President Donald Trump on Thursday, and also released its quarterly assessment of the... Read More

2024-05-21 20:37:03
by Dan McCue
With Memorial Day Approaching, White House Moves to Keep Gas Prices Low

WASHINGTON — With Memorial Day weekend fast approaching and the summer driving season just around the corner, the Biden administration... Read More

WASHINGTON — With Memorial Day weekend fast approaching and the summer driving season just around the corner, the Biden administration announced it will sell 1 million barrels of gasoline from federal reserves to lower prices at the pump for all... Read More

2024-04-12 19:39:01
by Kate Michael
IMF Director Sets the Stage for IMF-World Bank Spring Meetings 

WASHINGTON — As the world's finance ministers and central bank governors prepare to convene in Washington, D.C., for the IMF-World... Read More

WASHINGTON — As the world's finance ministers and central bank governors prepare to convene in Washington, D.C., for the IMF-World Bank spring meetings next week, Kristalina Georgieva, managing director of the International Monetary Fund, spoke about how this event comes... Read More

2024-04-08 19:54:29
by Dan McCue
Biden Administration Invests $6.6B to Bolster US Chip Manufacturing

WASHINGTON — The Biden administration is awarding up to $6.6 billion in grants to the Taiwan Semiconductor Manufacturing Company, the... Read More

WASHINGTON — The Biden administration is awarding up to $6.6 billion in grants to the Taiwan Semiconductor Manufacturing Company, the largest maker of the most advanced microchips in the world, to help support construction of the company’s first major hub... Read More

Inflation Slowed Further in December as Economic 'Soft Landing' Moves Into Sharper Focus

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a... Read More

WASHINGTON (AP) — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could... Read More

Americans' Economic Outlook Brightens as Inflation Slows and Wages Outpace Prices

WASHINGTON (AP) — After an extended period of gloom, Americans are starting to feel better about inflation and the economy —... Read More

WASHINGTON (AP) — After an extended period of gloom, Americans are starting to feel better about inflation and the economy — a trend that could sustain consumer spending, fuel economic growth and potentially affect President Joe Biden's political fortunes. A measure of consumer... Read More

Some Americans Will Get Their Student Loans Canceled in February as Biden Accelerates New Plan

WASHINGTON (AP) — The Biden administration will start canceling student loans for some borrowers in February as part of a new... Read More

WASHINGTON (AP) — The Biden administration will start canceling student loans for some borrowers in February as part of a new repayment plan that's taking effect nearly six months ahead of schedule. Loan forgiveness was originally set to begin in July under... Read More

In Milwaukee, Biden Looks to Highlight Progress for Black-Owned Small Businesses

WASHINGTON (AP) — President Joe Biden is aiming to use a visit to the battleground state of Wisconsin on Wednesday... Read More

WASHINGTON (AP) — President Joe Biden is aiming to use a visit to the battleground state of Wisconsin on Wednesday to spotlight a surge in federal government support for Black-owned small businesses during his White House tenure and to highlight... Read More

Wall Street Rises on Hopes for Rate Cuts, as Dow Ticks Toward Another Record

NEW YORK (AP) — Wall Street is ticking higher Thursday following its big rally the day before on excitement that... Read More

NEW YORK (AP) — Wall Street is ticking higher Thursday following its big rally the day before on excitement that several cuts to interest rates may indeed be coming next year. The S&P 500 was 0.3% higher in morning trading... Read More

Biden to Convene New Supply Chain Council, Announce 30 Steps to Strengthen US Logistics

WASHINGTON (AP) — President Joe Biden on Monday will convene the first meeting of his supply chain resilience council, using the event... Read More

WASHINGTON (AP) — President Joe Biden on Monday will convene the first meeting of his supply chain resilience council, using the event to announce 30 actions to improve access to medicine and needed economic data and other programs tied to the production... Read More

Business Group Estimates Several Hundred Thousand Clean Energy Jobs in EV, Storage and Solar

A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major... Read More

A nonpartisan business group that advocates for clean energy estimates that 403,000 jobs will be created by the 210 major energy projects announced since the Inflation Reduction Act took effect in mid-2022. At least $86 billion in investments have been announced,... Read More

US Consumers Feeling Slightly Less Confident in October

WASHINGTON (AP) — American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated.... Read More

WASHINGTON (AP) — American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated. The Conference Board, a business research group, said Tuesday that its consumer confidence index fell to 102.6 from 104.3 in... Read More

UAW Strikes at General Motors SUV Plant in Texas

DETROIT (AP) — The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off... Read More

DETROIT (AP) — The United Auto Workers union turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV factory in Arlington, Texas. The move comes just a day after the... Read More

Stock Market Today: Wall Street Claws Back From Morning Loss to Mostly Rise

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though... Read More

NEW YORK (AP) — Wall Street is drifting Tuesday following the latest signal that the U.S. economy remains solid, though perhaps too strong for the Federal Reserve’s liking. The S&P 500 was 0.2% higher in midday trading after erasing an... Read More

2023-09-26 14:38:18
by Dan McCue
Vilsack Warns Farmers, Children Will Feel Shutdown’s Effect Almost Immediately

WASHINGTON — With a partial federal shutdown growing ever more likely come midnight Saturday, the Biden administration on Monday began... Read More

WASHINGTON — With a partial federal shutdown growing ever more likely come midnight Saturday, the Biden administration on Monday began underscoring the consequences of Congress not quickly taking steps to avert it. At Monday afternoon’s press briefing at the White... Read More

Writers' Union Reaches Tentative Deal With Hollywood Studios

LOS ANGELES (AP) — Screenwriters’ union leaders and Hollywood studios have reached a tentative agreement to end a historic strike after nearly... Read More

LOS ANGELES (AP) — Screenwriters’ union leaders and Hollywood studios have reached a tentative agreement to end a historic strike after nearly five months, raising hopes that a crippling shutdown of film and television filming is near an end. Actors remain on... Read More

2023-09-20 19:07:55
by Dan McCue
Retailers Expect Record Year for Halloween Sales

WASHINGTON — Total Halloween spending could reach a record $12.2 billion this year, significantly outpacing last year’s record $10.6 billion... Read More

WASHINGTON — Total Halloween spending could reach a record $12.2 billion this year, significantly outpacing last year’s record $10.6 billion in sales, according to a survey conducted for the National Retail Federation. The annual market appraisal, which was performed on... Read More

Governors From Arizona, New Mexico Seek Stronger Economic Ties With Taiwan

SANTA FE, N.M. (AP) — Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes... Read More

SANTA FE, N.M. (AP) — Governors from the Southwestern United States are pursuing stronger business ties with Taiwan in hopes of attracting new foreign investments and jobs to their landlocked states. Trade missions this week have taken New Mexico. Gov.... Read More

Low Mississippi River Limits Barges as Farmers Want to Move Crops Downriver

DES MOINES, Iowa (AP) — A long stretch of hot, dry weather has left the Mississippi River so low that barge companies... Read More

DES MOINES, Iowa (AP) — A long stretch of hot, dry weather has left the Mississippi River so low that barge companies are reducing their loads just as Midwest farmers are preparing to harvest crops and send tons of corn and soybeans... Read More

Workers Strike Three Detroit Automakers in Battle For a Bigger Share of Industry Profits

DETROIT (AP) — About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t... Read More

DETROIT (AP) — About 13,000 U.S. auto workers stopped making vehicles and went on strike Friday after their leaders couldn’t bridge a giant gap between union demands in contract talks and what Detroit’s three automakers are willing to pay. Members... Read More

2023-09-12 20:46:47
by Dan McCue
Census Bureau Says US Poverty Rate Surged as Pandemic Aid Ended

WASHINGTON — The nation’s poverty rate increased dramatically last year as inflation drove up the cost of living and federal... Read More

WASHINGTON — The nation’s poverty rate increased dramatically last year as inflation drove up the cost of living and federal aid programs created to help families weather the coronavirus pandemic were allowed to expire, the Census Bureau said on Tuesday.... Read More

McCarthy Signals Biden Impeachment Inquiry Ahead but First He Must Pass Bill to Fund Gov't

WASHINGTON (AP) — Speaker Kevin McCarthy is expected to endorse moving ahead with an impeachment inquiry into President Joe Biden as he faces... Read More

WASHINGTON (AP) — Speaker Kevin McCarthy is expected to endorse moving ahead with an impeachment inquiry into President Joe Biden as he faces mounting pressure from his right flank to take action with the House returning Tuesday for a disruptive fall agenda. McCarthy is... Read More

Wall Street Rises Following Updates on Consumer Confidence, Job Openings

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday as two economic reports suggested the economy... Read More

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday as two economic reports suggested the economy is cooling enough for the Federal Reserve to pause hiking interest rates. The S&P 500 rose 0.7%, adding to the... Read More

Biden Travels to Wisconsin to Talk About the Economy a Week Before GOP Debate

MILWAUKEE (AP) — In a show of preemptive counter-programming, President Joe Biden on Tuesday traveled to Wisconsin to highlight his economic policies in a... Read More

MILWAUKEE (AP) — In a show of preemptive counter-programming, President Joe Biden on Tuesday traveled to Wisconsin to highlight his economic policies in a state critical to his reelection fortunes, just a week before Republicans descend on Milwaukee for the party’s first presidential debate. His arrival... Read More

2023-07-28 19:56:09
by Kate Michael
Commerce Secretary Raimondo Spearheads Indo-Pacific Economic Framework

WASHINGTON — While Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin are on their tandem investment visit... Read More

WASHINGTON — While Secretary of State Antony Blinken and Secretary of Defense Lloyd Austin are on their tandem investment visit to the Indo-Pacific, a third Biden administration official, Secretary of Commerce Gina Raimondo, was touting the region as an epicenter... Read More

Residents at a Loss After Newspaper That Bound Community Together Closes

WELCH, W.Va. (AP) — Months after Missy Nester ended The Welch News' 100-year run, she can barely stand to walk... Read More

WELCH, W.Va. (AP) — Months after Missy Nester ended The Welch News' 100-year run, she can barely stand to walk through the office doors of the newspaper her mother taught her to read with growing up in West Virginia's southern... Read More

US Consumer Confidence Jumps to a Two-Year High as Inflation Eases

WASHINGTON (AP) — U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased... Read More

WASHINGTON (AP) — U.S. consumer confidence shot to the highest level in two years this month as inflationary pressures eased and the American economy continued to show resilience in the face of dramatically higher interest rates. The Conference Board, a... Read More

Inflation Hits Lowest Point Since Early 2021 as Prices Ease for Gas, Groceries and Used Cars

WASHINGTON (AP) — Squeezed by painfully high prices for two years, Americans have gained some much-needed relief with inflation reaching... Read More

WASHINGTON (AP) — Squeezed by painfully high prices for two years, Americans have gained some much-needed relief with inflation reaching its lowest point since early 2021 — 3% in June compared with a year earlier — thanks in part to... Read More

2023-07-11 14:56:02
by Kate Michael
Two More Rate Hikes This Year? A Federal Reserve Bank CEO Says It’s Possible

WASHINGTON — The Federal Reserve, the central banking system of the United States, is currently facing several significant challenges in... Read More

WASHINGTON — The Federal Reserve, the central banking system of the United States, is currently facing several significant challenges in its efforts to maintain a stable and robust banking system.  The panel of Federal Reserve governors voted unanimously last month... Read More

2023-07-05 17:22:09
by Dan McCue
Farmers Growing More Optimistic About the Future

WEST LAFAYETTE, Ind. — Farmers are feeling more optimistic about the financial future of their own farms and their industry... Read More

WEST LAFAYETTE, Ind. — Farmers are feeling more optimistic about the financial future of their own farms and their industry as a whole, according to the latest Ag Economy Barometer compiled by Purdue University and CME Group. The monthly measure... Read More

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