The Federal Reserve has been waiting for firmer evidence that rapid price increases are behind it.
Category: Commerce Department
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GDP Gain in First Quarter Revised Downward in U.S.
Consumers eased up on spending in the face of rising prices and high interest rates, Commerce Department data shows.
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U.S. Awards $120 Million to Polar Semiconductor to Expand Chip Facility
The grant is the latest federal award in a series stemming from the CHIPS and Science Act meant to ramp up domestic production of vital semiconductors.
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Billions in Chips Grants Are Expected to Fuel Industry Growth, Report Finds
The United States will triple its domestic chip manufacturing capacity by 2032, the largest increase in the world, according to a report from the Semiconductor Industry Association.
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U.S. Economy Grew at 1.6% Rate in First-Quarter Slowdown
Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate in the first three months of the year.
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U.S. Economy Grew at 1.6% Rate in First Quarter Slowdown
Consumers ensured that growth continued, but the latest data showed signs of vulnerability elsewhere.
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Inside Washington’s Role in Microsoft’s Big AI Deal With G42
The White House laid the ground work for Microsoft’s $1.5 billion investment in an Emirati artificial intelligence start-up, a deal meant to box out Beijing.
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A Key Inflation Gauge Hovers Above Fed’s Target
The Fed’s preferred inflation gauge was relatively stable on an annual basis, the latest reminder that bringing inflation down is a bumpy process.
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Biden Calls Chinese Electric Vehicles a Security Threat
The president ordered an investigation into auto software that could track U.S. drivers, part of a broader effort to stop E.V. imports from China.
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Plans to Expand U.S. Chip Manufacturing Are Running Into Obstacles
Delays in finishing new factories are emerging, just as the Biden administration begins handing out money to stoke domestic production.
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U.S. Economy Grew at 3.3% Rate in Latest Quarter
The increase in gross domestic product, while slower than in the previous period, showed the resilience of the recovery from the pandemic’s upheaval.