US housing recession could send home prices tumbling 20%, economist says
Home prices have already declined 5% from their May peak.
Costco puts off membership fee increase as renewals hit all-time highs
Costco historically increases its membership fees every 5.5 years,
Fed hikes rate by three-quarters of a point in continued fight against inflation
The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008.
Existing home sales drop to lowest level since 2020
Sales of previously owned houses fell in August for the seventh consecutive month as rising interest rates pushed potential homebuyers out of the market.
Gallup: More than half of U.S. workers are ‘quiet quitting’
A poll shows that the workplace has gotten worse for younger employees, particularly those under 35 years old.
EXPLAINER: How the strong U.S. dollar can affect everyone
After rising again Friday, the dollar is near its highest level in more than two decades against a key index measuring six major currencies, including the euro and Japanese yen.
Tentative railway labor deal reached, averting strike, Biden says
The tentative railway labor agreement averted a nationwide strike that could have been devastating to the economy.
Biden: Tentative railway labor deal reached, averting strike
President Joe Biden said Thursday that a tentative railway labor agreement has been reached, averting a potentially devastating strike before the pivotal midterm elections.
Possible railway worker strike could mean more shortages, higher inflation
A possible railway worker strike could devastate economy, leave train passengers stranded.
Dow falls 1,250 as inflation maintains grip on US economy
Many of the data points within the inflation report were worse than economists expected, including some the Fed pays particular attention to, such as inflation outside of food and energy pri
Inflation falls for 2nd consecutive month on lower gas prices
Inflation has driven up the costs of families’ grocery bills, rents, and utility costs, placing hardships on households and increasing gloom about the economy despite job growth and low unemployment.
Massive rail strike could mean more supply chain issues
A possible worker strike would threaten the U.S. economy with an estimated cost of $2 billion per day.
Is inflation cooling off? It depends where you live
Western states facing inflation rate of 9.6% even as price increases show hint of slowdown.
Utility assistance available for households behind on power bills
A tsunami of utility shutoffs are expected across the country as millions of households have fallen behind of utility bills amid higher prices and the heatwave.
Michaels hiring 15K holiday employees ahead of busy retail season
Michaels says it's giving holiday hires more earning potential.
OPEC, allies cutting world oil supplies as prices fall
The move signals their unhappiness with crude oil prices that have dropped because of recession fears.
US hiring slowed in August as employers face high inflation, sluggish spending
The economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months.
Bed Bath & Beyond to close stores, lay off workers in attempt to reverse losses
Bed Bath & Beyond says that it will shutter stores and lay off workers in a bid to turn around its beleaguered business.
Consumer prices rise to 6.3% in July as inflation begins to ease a bit
A report released by the Commerce Department reveals that a decline in energy prices in July offered some relief amid high prices caused by inflation.
Steak prices decline on waning demand
The cost of steak is on the decline while ground beef prices remain elevated as consumers adjust their protein preferences to escape soaring inflation.