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Breaking News: Economy

Donald Trump chooses hedge fund executive Scott Bessent for Treasury secretary

Scott Bessent, founder and chief executive officer of Key Square Group LP, during an interview in Washington, DC, US, on Friday, June 7, 2024.Stefani...

Annual inflation rate hit 2.6% in October, meeting expectations

Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday.The consumer price index,...

Europe cannot finance Ukraine war if Trump pulls U.S. out of the conflict, Hungary’s Orban warns

Hungarian Prime Minister Viktor Orban attends ADF Talks as part of the Antalya Diplomacy Forum (ADF) at NEST Congress and Exhibition Center in Antalya,...

Federal Reserve cuts interest rates by a quarter point

The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to...

Fed meeting recap: Powell ‘feeling good’ about economy, says Trump can’t legally fire him

U.S. fiscal policy is 'on an unsustainable path,' says Powell The rising U.S. deficit and overall fiscal policy remain headwinds to the economy, Federal...

Europe praises Trump’s victory amid wider fears of an impending economic nightmare

Donald Trump (L), President of the USA, and Emmanuel Macron, President of France, join hands during the final press conference of the G7 Summit...

U.S. economy added just 12,000 jobs in October, impacted by hurricanes, Boeing strike

Job creation in October slowed to its weakest pace since late 2020 as the impacts of storms in the Southeast and a significant labor...

Boeing to cut 17,000 jobs as losses deepen during factory strike

Boeing 737 MAX airliners are pictured at the company's factory in Renton, Washington, on Sept. 12, 2024.Stephen Brashear | APBoeing will cut 10% of...

Inflation rate at 2.4% in September, topping expectations; jobless claims highest since August 2023

The pace of price increases over the past year was higher than forecast in September while jobless claims posted an unexpected jump following Hurricane...

Here’s where the jobs are for September 2024 — in one chart

The September jobs report was surprisingly strong, and the details show that growth came from many different areas of the economy.The biggest contributions came...

U.S. job creation roared higher in September as payrolls surged by 254,000

The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the...

Port strike fallout: Blockbuster weight-loss drug supply from Wegovy to Ozempic, Mounjaro, Zepbound caught up in East Coast trade shutdown

An Eli Lilly & Co. Zepbound injection pen, March 28, 2024.Bloomberg | Bloomberg | Getty ImagesAs a port strike stretching from New England to...

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