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

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

Biden, UK Prime Minister Unveil ‘Atlantic Declaration’ to Bolster Economic Ties
Diplomacy
Biden, UK Prime Minister Unveil ‘Atlantic Declaration’ to Bolster Economic Ties
2023-06-09 17:29:06
by Dan McCue

WASHINGTON — President Joe Biden and United Kingdom Prime Minister Rishi Sunak on Thursday signed a new economic framework, dubbed the “Atlantic Declaration,” which both said would renew the historic ties between the two nations, while bringing them forward into... Read More

SURVEY: Corporate CEO’s  Bracing for Short, Shallow Recession
Economy
SURVEY: Corporate CEO’s Bracing for Short, Shallow Recession
2023-05-04 17:18:39
by Dan McCue

NEW YORK — A large and growing number of corporate CEO’s are preparing for what they believe will be a brief and shallow recession in the next 12 to 18 months, according to The Conference Board, the business membership and... Read More

Travel Group Urges White House, Congress to Take Steps to Boost Industry
Travel
Travel Group Urges White House, Congress to Take Steps to Boost Industry
2023-02-02 18:44:05
by Dan McCue

WASHINGTON — The travel industry has made progress in recovering from the depths of the coronavirus pandemic, but a full recovery won’t be achieved until the last COVID restrictions are lifted, including restrictions on travel from China, representatives of the... Read More

Kilmer Says Best Economic Returns Depend on Bipartisanship
Congress
Kilmer Says Best Economic Returns Depend on Bipartisanship
2023-01-30 20:05:42
by Dan McCue

WASHINGTON — Rep. Derek Kilmer, D-Wash., admits he initially found the notion slightly intimidating. Day after day as he arrived for work in the economic development office in Tacoma-Pierce County, Washington, he was greeted by a sign that said, “We... Read More

Railroad Unions Reject Labor Contract in a Potential Blow to US Economy
Labor
Railroad Unions Reject Labor Contract in a Potential Blow to US Economy
2022-11-21 22:36:43
by Tom Ramstack

WASHINGTON — Railroad unions that rejected a proposed labor contract on Monday are threatening the nation’s economy as the Christmas season approaches. The “no” vote by the unions sets the stage for a strike as soon as Dec. 9, unless... Read More

Record Number of Americans Have Bank Accounts, FDIC Says
Economy
Record Number of Americans Have Bank Accounts, FDIC Says
2022-10-25 23:25:54
by Dan McCue

WASHINGTON — Despite a global pandemic that stalled state and local economies for months, a record 96% of Americans had bank accounts in 2021, according to a new survey released Tuesday by the Federal Deposit Insurance Corporation. The FDIC’s “2021... Read More

Falling Gas Prices Offsetting Inflation Pressures, Providing Relief to Consumers
Falling Gas Prices Offsetting Inflation Pressures, Providing Relief to Consumers
2022-08-10 15:29:48
by Dan McCue

WASHINGTON — The Consumer Price Index was unchanged in July, a sign that rapidly declining gas prices are beginning to offset the pressures that led to a monthslong surge in inflation. According to the U.S. Bureau of Labor Statistics, the... Read More

Copper Shortage Could Stymie Net-Zero Energy Goals
Manufacturing
Copper Shortage Could Stymie Net-Zero Energy Goals
2022-07-22 14:45:46
by Kate Michael

WASHINGTON — A shortage of one essential material could curtail America’s transition to new sources of clean energy according to a new report from S&P Global. The world’s copper supply is unlikely to be able to meet demand for all... Read More

Inflation Pressures Easing, but It’ll Be Awhile Before Consumers Feel It
Economy
Inflation Pressures Easing, but It’ll Be Awhile Before Consumers Feel It
2022-07-01 20:18:11
by Dan McCue

NEW YORK — Though there has been some improvement in the metrics used to measure inflation, a slowing U.S. manufacturing sector among other factors suggests the risk of a looming recession continues to be strong, according to an economist with... Read More

White House to Spend June Spreading Sharper Economic Message
Economy
White House to Spend June Spreading Sharper Economic Message
2022-05-31 17:01:17
by Dan McCue

WASHINGTON  — As president, Joe Biden has shepherded the economy’s recovery from an unforeseen global pandemic, kick-started long needed infrastructure repairs all across the nation, and seen the unemployment rate drop to 3.6% on his watch — nearly the lowest... Read More

Net Zero Carbon Plan Could Bolster Texas Economy
In The States
Net Zero Carbon Plan Could Bolster Texas Economy
2022-04-18 23:22:05
by Reece Nations

AUSTIN, Texas — Energy scientists at the University of Texas at Austin contend in a new report that their state could strengthen its economy while eliminating carbon pollution within the next 30 years. The report maintains Texas is well-positioned to... Read More

US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come
Economy
US Growth in Q4 Revised Lower to 6.9%, Slower Growth to Come

WASHINGTON (AP) — The U.S. economy ended 2021 by expanding at a healthy 6.9% annual pace from October through December, the government reported Wednesday, a slight downgrade from its previous estimates. For all of 2021, the nation’s gross domestic product —... Read More

AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise
Economy
AP-NORC Poll: Low Marks for Biden on Economy as Prices Rise

WASHINGTON (AP) — A majority of Americans say they don't blame President Joe Biden for high gasoline prices, but they're giving his economic leadership low marks amid fears of inflation and deep pessimism about economic conditions. About 7 in 10... Read More

Oil Climbs, Stocks Waver as US Nears Ban of Russian Crude
Wall Street
Oil Climbs, Stocks Waver as US Nears Ban of Russian Crude

NEW YORK (AP) — Stocks around the world swung on Tuesday, oil prices rose sharply and the price of nickel surged so much that trading for it was shut in London, as the economic fallout from Russia’s invasion of Ukraine keeps rocking... Read More

US Added 678,000 Jobs in February in Sign of Economic Health
Employment
US Added 678,000 Jobs in February in Sign of Economic Health

WASHINGTON (AP) — U.S. employers added a robust 678,000 jobs in February, another gain that underscored the economy’s solid health as the omicron wave fades and more Americans venture out to spend at restaurants, shops and hotels despite surging inflation.... Read More

Stocks Mixed, Oil Tops $110 a Barrel as Ukraine War Rages
Wall Street
Stocks Mixed, Oil Tops $110 a Barrel as Ukraine War Rages

NEW YORK (AP) — Oil prices surged above $110 per barrel Wednesday as Russian forces stepped up attacks on Ukrainian cities, while premarket trading on Wall Street pointed toward a higher open. Investors appeared to take in stride Federal Reserve... Read More

US Economy Grew 5.7% in 2021 in Rebound From 2020 Recession
Economy
US Economy Grew 5.7% in 2021 in Rebound From 2020 Recession

WASHINGTON (AP) — The U.S. economy grew last year at the fastest pace since Ronald Reagan's presidency, bouncing back with resilience from 2020's brief but devastating coronavirus recession. The nation’s gross domestic product — its total output of goods and... Read More

<strong>Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’</strong>
Federal Reserve
Fed Leaves Interest Rate Unchanged, But Signals Increase ‘Soon’
2022-01-27 14:44:00
by Dan McCue

WASHINGTON — The Federal Reserve left interest rates unchanged on Wednesday, keeping them near zero, but signaled a raise in rates could come soon if inflation continues to run above its preferred target and the job market remains strong. The... Read More

Biden Defends Record, Vows to Get Out and Talk to Americans Face to Face
White House
Biden Defends Record, Vows to Get Out and Talk to Americans Face to Face
2022-01-20 17:09:13
by Dan McCue

WASHINGTON — President Joe Biden’s second solo press conference since taking office turned into a marathon lasting one hour and 45 minutes on Wednesday as he was repeatedly pressed to defend his first year in office and lay out a... Read More

Biden Chooses Three for Fed Board, Including First Black Woman
Federal Reserve
Biden Chooses Three for Fed Board, Including First Black Woman

WASHINGTON (AP) — President Joe Biden will nominate three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first... Read More

U.S. Jobless Claims Rise by 23,000 to 230,000
Employment
U.S. Jobless Claims Rise by 23,000 to 230,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose last week to the highest level since mid-November, but still low by historic standards. U.S. jobless claims climbed by 23,000 last week to 230,000. The four-week moving average,... Read More

US Employers Add 199,000 Jobs as Unemployment Falls to 3.9%
Economy
US Employers Add 199,000 Jobs as Unemployment Falls to 3.9%

WASHINGTON (AP) — U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a time when businesses are struggling to fill jobs with many Americans remaining reluctant to return to the workforce. The Labor... Read More

Biden’s Truck Driver Outreach Aimed at Easing Supply Chain
Economy
Biden’s Truck Driver Outreach Aimed at Easing Supply Chain
2021-12-16 22:06:24
by Tom Ramstack

WASHINGTON — The Biden administration on Thursday announced a plan to increase the number of commercial truck drivers in a bid to alleviate supply chain gridlock. The plan includes assistance to state motor vehicle departments to issue more commercial licenses,... Read More

World Shares, US Futures Slip on Worries Over Omicron Risks
Economy
World Shares, US Futures Slip on Worries Over Omicron Risks

NEW YORK (AP) — Global shares mostly slipped Tuesday as investors cautiously weighed how much damage the new omicron coronavirus variant may unleash on the global economy. Germany's DAX lost 1.1% to 15,106.35 in afternoon trading. France’s CAC 40 slipped... Read More

Stores Kick Off Black Friday But Pandemic Woes Linger
Economy
Stores Kick Off Black Friday But Pandemic Woes Linger

NEW YORK (AP) — Retailers are expected to usher in the unofficial start to the holiday shopping season Friday with bigger crowds than last year in a closer step toward normalcy. But the fallout from the pandemic continues to weigh... Read More

House Moves Toward OK of Dems’ Sweeping Social, Climate Bill
Congress
House Moves Toward OK of Dems' Sweeping Social, Climate Bill

WASHINGTON (AP) — Democrats brushed aside months-long divisions and approached House passage of their expansive social and environment bill Friday, as President Joe Biden and his party neared a defining win in their drive to use their control of government... Read More

White House Pushing Utility and Energy Providers to Prevent Shut-Offs This Winter
Energy
White House Pushing Utility and Energy Providers to Prevent Shut-Offs This Winter
2021-11-18 21:44:53
by Reece Nations

WASHINGTON — The Biden administration is calling on energy providers to proactively coordinate American Rescue Plan Act funds to prevent utility shut-offs this winter. In a press briefing issued on Thursday, the Biden-Harris White House urged states, localities and tribes... Read More

Biden Pushes Electric Vehicle Chargers as Energy Costs Spike
Energy
Biden Pushes Electric Vehicle Chargers as Energy Costs Spike

WASHINGTON (AP) — President Joe Biden is highlighting billions of dollars in his giant bipartisan infrastructure deal to pay for the installation of electric vehicle chargers across the country, an investment he says will go a long way to curbing planet-warming carbon emissions while creating good-paying... Read More

US Jobless Claims Drop to Pandemic Low of 267,000
Economy
US Jobless Claims Drop to Pandemic Low of 267,000

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell to a new pandemic low 267,000 last week, another sign that the job market is recovering from last year's sharp coronavirus downturn. Jobless claims fell by 4,000 last... Read More

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