US consumer spending up 8.2%, partly erasing record plunge
WASHINGTON (AP) — American consumers increased their spending by a record 8.2% in May, partly erasing huge plunges the previous two months, against the backdrop of an economy that’s likely shrinking by...
View ArticleUS budget deficit hits all-time high of $864 billion in June
WASHINGTON — The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut...
View ArticleBleak economic data point to struggles ahead for US economy
WASHINGTON — A grim picture emerged Thursday of a U.S. economy that has endured a record-shattering plunge last quarter and is now struggling to rebound as the coronavirus keeps forcing more layoffs....
View ArticleSurge in virus threatens to reverse global economic rebounds
WASHINGTON — The resurgence of coronavirus cases engulfing the United States and Europe is imperiling economic recoveries on both sides of the Atlantic as millions of individuals and businesses face...
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Effort to put Tubman on $20 bill restarted under Biden
WASHINGTON — With a change of administrations, it looks like Harriet Tubman is once again headed to the front of the $20 bill. Biden press secretary Jen Psaki said Monday that the Treasury Department...
View ArticleJanet Yellen wins Senate approval as treasury secretary
WASHINGTON — The Senate on Monday approved President Joe Biden’s nomination of Janet Yellen to be the nation’s 78th treasury secretary, making her the first woman to hold the job in the department’s...
View ArticleYellen: Biden’s plan could restore full employment by 2022
WASHINGTON — Treasury Secretary Janet Yellen said Sunday the country was still in a “deep hole” with millions of lost jobs but that President Joe Biden’s $1.9 trillion relief plan could generate enough...
View ArticleRecord rise in US wholesale prices over the past year
WASHINGTON — Wholesale prices, driven by rising food costs, increased 0.8% in May and by a unprecedented amount over the past year as the U.S. economy emerges from pandemic lockdowns and pushes...
View ArticleUS wholesale prices rose record 8.6% over 12 months
WASHINGTON — Inflation at the wholesale level rose 8.6% in September compared to a year ago, the largest advance since the 12-month change was first calculated in 2010. The Labor Department reported...
View ArticleU.S. consumer prices soared 6.8% in past year, most since 1982
Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate...
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