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Breaking News: Economy

Fed cuts by a quarter point, indicates fewer reductions ahead

WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that...

Watch Fed Chair Powell live as central bank’s interest rate outlook disappoints market

Consumers are feeling the effects of higher prices, not higher inflation, Powell saysPowell thinks that consumers are feeling the effect of high prices, rather...

UK economy shrinks for second month, contracting 0.1% in October

Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial...

Trump rings bell at NYSE to cheers of ‘USA’ as Wall Street CEOs, business leaders look on

President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after vowing an economic boom to a cheering crowd...

Here’s the inflation breakdown for November 2024 — in one chart

Hispanolistic | E+ | Getty ImagesConsumers saw inflation pick up slightly in November as price increases in categories including groceries, gasoline and new cars...

Annual inflation rate accelerates to 2.7% in November, as expected

Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers.The consumer price...

Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%

Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the...

France’s political chaos casts long shadow over economic growth

A pedestrian crosses a flooded street following heavy rainfall in Paris on October 17, 2024.Joel Saget | Afp | Getty ImagesFrench lawmakers will hold...

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...

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