Business News

(WASHINGTON) -- Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation's benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation.In a highly unusual circumstance, however, two of the policymakers stand in limbo – uncertain if they will vote at all – with little more than 48 hours before the announcement.In recent weeks, […]

(NEW YORK) -- Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase.The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week ending on Thursday, which amounted to the largest one-week drop in mortgage rates this year, FreddieMac data shows. As recently as January, the average 30-year fixed […]

(NEW YORK) -- Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump's tariff policy intensified. The reading matched economists' expectations.The fresh inflation data indicated an acceleration from a 2.7% inflation rate recorded in the month prior, according to the U.S. Bureau of Labor Statistics. Price increases remain below the 3% rate recorded in January, the month Trump took […]

lvcandy/Getty Images (NEW YORK) -- Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers.Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold in the previous month, the U.S. Bureau of Labor Statistics said on Wednesday.Since President Donald Trump began escalating tariffs earlier this year, the monthly wholesale-price measure has drawn close […]

(NEW YORK) -- With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump.In a research note to its clients, the global investment and banking giant said U.S. consumers will absorb 55% of tariff costs by the end of this year. American businesses would pay […]

(NEW YORK) -- U.S. employers added far fewer jobs in 2024 and early 2025 than previously thought, indicating the labor market may have been significantly weaker than initial estimates had suggested.The U.S. economy added 911,000 fewer jobs over the 12 months ending in March than previously estimated, the U.S. Bureau of Labor Statistics (BLS) said on Tuesday. The figure, which exceeded economists' expectations, appears to be the largest revision ever […]

(NEW YORK) -- Employers in nearly every industry have cut back on hiring, according to the latest data, leaving job seekers with fewer places to turn.A recent jobs report extended a lackluster run of labor data that stretches back to the beginning of the summer. While the unemployment rate stands at a historically low level, millions of out-of-work Americans face stiff conditions.Nearly two million job seekers have been out of […]

(NEW YORK) -- Consumer sentiment soured in October as a government shutdown threatens to weaken a wobbly economy beset by an uptick in inflation and a sharp slowdown of hiring, fresh data on Friday showed. The reading marked a decrease from the previous month but it came in higher than economists expected.Shopper attitudes have worsened for three consecutive months, resuming a decline that took hold after President Donald Trump took office, University of […]

(WASHINGTON) -- Fresh jobs data on Friday showed a continued hiring slowdown in the first such release since a dismal jobs report last month prompted President Donald Trump to fire the top official tasked with compiling labor statistics. The reading fell well short of economists' expectations.The U.S. added 22,000 jobs in August, according to data from the U.S. Bureau of Labor Statistics. That figure showed a sharp decrease from 79,000 jobs added in the […]