Economy
Image
Report finds Americans are still paying off credit debt from last Christmas
Study was done by WalletHub.
Image
U.S. economy sets 2-year high for growth, exceeding analysts' expectations by more than 40%
Plunge in private business investment from second quarter nearly stopped in third quarter, down just 0.3%, Commerce Department says.
Image
Consumer prices increased in November at annualized rate of 2.7%, lower than expected
The rate was lower than the projected 3.1% by Wall Street.
Image
Almost 50% of small businesses say they likely won't survive a second Biden term
When asked what changes small businesses would make in preparation for a second term under President Joe Biden, some answers included, "close by business" and "actively look at selling out to a larger competitor."
Image
Walmart cuts hundreds of jobs, requires remote workers to come to the office
Walmart said change for remote workers aimed at "bringing more of us together more often.”
Image
Wholesale prices rose more than expected in April, 0.5%
The report tamps down optimism for interest rate cuts anytime soon.
Image
Nippon Steel announces it will be postponing the acquisition closing of U.S. Steel
Nippon in December reached an agreement to purchase U.S. Steel, resulting in criticism from American lawmakers.
Image
US labor market added 175K jobs in April, show signs of cooling
Wall Street economists expected non-farm payrolls to increase by 240,000 and the jobless rate to remain at 3.8%
Image
Fed's key inflation measure shows prices increased 2.7% last month, compared to March 2023
The U.S. government defines the Personal Consumption Expenditures Price Index as a "measure of the prices that people living in the United States, or those buying on their behalf, pay for goods and services."
Image
U.S. GDP grew at 1.6% annual rate in Q1, falling short of expectations
Some analysts suggested that the data could put off the prospect of an interest rate cut from the Federal Reserve.
Image
Rising deficits from the federal government could keep inflation high, professor warns
In terms of how the Biden administration could properly handle the economy, Luther said there aren't any easy fixes.
Image
Shareholders of U.S. Steel sign off on Nippon buyout
Nippon reached an agreement to purchase U.S. steel in December of last year for a price of $14.9 billion, though the announcement drew considerable scrutiny from American lawmakers.
Image
Annual inflation rate increased in March to 3.5%
The rate increased 0.4% from February to March.