The reading on gross domestic product was bolstered by consumer spending, showing that recession forecasts early in the year were premature, at least.
Category: United States Economy
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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.
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Stock Market Slips as Traders Move Cautiously Ahead of Fed Meeting
Stock markets often exhibit caution ahead of major events like Fed meetings, waiting until there is clarity over the central bank’s next move.
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Companies Keep Raising Food Prices, Affecting Fed’s Efforts to Tame Inflation
Coca-Cola, PepsiCo and Unilever have each reported raising prices significantly in the second quarter, complicating the Federal Reserve’s efforts to tame inflation.
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How Regional Banks Got Healthy Again
The crisis set off by Silicon Valley Bank’s collapse has waned. Its peers have more capital and deeper customer ties.
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What to Watch at the Federal Reserve’s July Meeting
The Federal Reserve is poised to raise interest rates after pausing in June. What comes next is crucial, but don’t expect clear commitments.
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Senate Targets China, Voting to Restrict Farmland Purchases and U.S. Investment
Senators voted overwhelmingly to block Chinese businesses from buying farmland and mandate that American investment in the country’s national security industries be tracked.
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Global Economy Shows Signs of Resilience Despite Lingering Threats
The International Monetary Fund upgraded its global growth forecast for 2023.
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Flood of Workers Has Made the Fed’s Job Less Painful. Can It Persist?
Federal Reserve officials thought job gains would taper off more, but they’ve remained strong. An improving supply of workers has been crucial.
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UPS Contract Talks Go Down to the Wire as a Possible Strike Looms
With the Teamsters contract set to expire Aug. 1, pay for part-time workers is a major hurdle. A walkout could rattle the U.S. economy.