Consumers ensured that growth continued, but the latest data showed signs of vulnerability elsewhere.
Category: United States Economy
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Biden, Seeking to Build on Fruitful Week, Will Announce Billions in Chip Grants
The $6.1 billion for Micron, to shore up the domestic supply of semiconductors, comes after a key union endorsement and passage of an aid bill central to the president’s foreign policy agenda.
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Europe’s Policymakers Get Ready to Lower Rates, Regardless of the Fed
European Central Bank governors are highlighting cooler inflation as a sign the bank could cut interest rates before the Federal Reserve.
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Solar Companies Seek New U.S. Tariffs on Asian Imports
Firms warn that China uses its neighbors to skirt existing levies, depressing prices and threatening U.S. investments.
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High Borrowing Costs Have Some Democrats Urging Biden to Pressure the Fed
Polls show voters are angry about costs, like mortgages, and worried they will stay high if the president wins re-election.
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Could the Union Victory at VW Set Off a Wave?
Some experts say the outcome at a plant in Chattanooga, Tenn., may be organized labor’s most significant advance in decades. But the road could get rockier.
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‘It’s Clearly Bleak’: Stocks Set for Longest Losing Streak in Months
A rally at the start of the year has given way to worries about economics and geopolitics on Wall Street.
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U.S. Mortgage Rates Jump Above 7% for the First Time This Year
Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent mark on Thursday, a troublesome sign for an already tight housing market.
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Powell Suggests Interest Rates Could Stay High for a Longer Period
The Fed chair, along with the central bank’s No. 2 policymaker, stressed uncertainties over job growth and the persistence of elevated inflation.
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I.M.F. Sees Steady Growth but Warns of Rising Protectionism
The International Monetary Fund offered an upbeat economic outlook but said that new trade barriers and escalating wars could worsen inflation.