The ratings agency, which lowered the U.S. long-term rating from its top mark, said that debt-limit standoffs have eroded confidence in the nation’s fiscal management.
Category: United States Economy
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Strong Economic Data Buoys Biden, but Many Voters Are Still Sour
Voters continue to rate the president poorly on economic issues, but there are signs the national mood is beginning to improve.
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Job Turnover Eased in June as Labor Market Cooled
Openings were little changed, but hiring and quitting both declined.
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A Strong Peso Gives Mexicans Working Abroad Less Bang for Their Buck
The peso’s soaring value means the money that Mexicans in the United States send home doesn’t go as far as it used to.
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Heat Is Costing the U.S. Economy Billions in Lost Productivity
From meatpackers to home health aides, workers are struggling in sweltering temperatures and productivity is taking a hit.
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Wage Growth Slowed in Second Quarter, a Sign the Economy is Cooling
Pay and benefits increased 1 percent, down from 1.2 percent in the first three months of the year. The cooling will be welcomed by policymakers who have been worried that rapidly rising wages could make it harder to get inflation under control.
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The Fed’s Preferred Inflation Measure Cooled in June
The Personal Consumption Expenditures index moderated, even as consumer spending data looked strong.
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Why ‘Soft Landing’ Optimists Shouldn’t Celebrate Just Yet
Despite a barrage of interest-rate increases, the economy is faring better than many on Wall Street had imagined. But the wild card of inflation still looms.
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Wall St. Pessimists Are Getting Used to Being Wrong
The S&P 500 is up about 20 percent this year, but some still warn that the future may not be as rosy as that implies.
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Soft Landing Optimism Is Everywhere. That’s Happened Before.
People are often sure that the economy is going to settle down gently right before it plunges into recession, a reason for caution and humility.
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GDP Grew at 2.4% Rate in Q2 as US Economy Stayed on Track
The reading on gross domestic product was bolstered by consumer spending, showing that recession forecasts early in the year were premature, at least.
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Fed Raises Rates After a Pause and Leaves Door Open to More
Federal Reserve officials lifted borrowing costs by a quarter-point after pausing in June. They could rise more, but the central bank is not ready to commit.