U.S. employers add a surprisingly strong 275,000 jobs
Friday’s report drastically revised down the government’s estimate of hiring in December and January from what had been blockbuster increases to still-solid gains.
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Federal Reserve’s preferred inflation gauge increases by most in a year
January’s month-to-month price increase will likely underscore the concern expressed recently by Federal Reserve officials about the risk of cutting interest rates too soon this year.
4Q economy gets a slight downgrade from government’s initial estimate
U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession.
Consumer confidence slips as anxiety over potential recession surprisingly reappears
The decline in the consumer confidence index comes after three straight months of improvement.
Economists lower recession forecasts to 40% on U.S. job growth expectations
While forecasters largely expect the U.S. economy to lose some steam after a blockbuster 2023, a still-robust labor market and receding inflation continue to support mostly solid household demand.
U.S. small-business optimism index sees biggest drop since end of 2022
The share of owners planning to boost employment dropped to the lowest level since May 2020.
Record number of Americans can’t afford their rent, new study finds
After failing to make a significant dent in the problem over the last decade, state and federal lawmakers across the U.S. are making housing a priority in 2024 and throwing the kitchen sink at the issue.
Some Americans saddled with credit card debt as rent, everyday prices remain high
Economists and experts see rising delinquencies as one of the growing risks to the economy this year, especially if student loans become too much for younger, debt-burdened Americans to handle.
Powell: Federal Reserve on track to cut rates this year with inflation slowing
Federal Reserve Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year.
New Purdue appointee says university has global role
Named as a fellow to the Daniels School of Business, former World Bank President David Malpass said the “world would benefit from Purdue’s engagement … in terms of its expertise in business, in semiconductors, in climate science, in engineering.”
U.S. employers added surprisingly robust 353,000 jobs in January
Wages rose unexpectedly fast in January, too. The strong hiring and wage growth could complicate or delay the Federal Reserve’s intention to start cutting interest rates later this year.
U.S. worker paycheck growth slowed late last year, which could cool inflation
Pay and benefits for America’s workers grew in the final three months of last year at the slowest pace in two and a half years, a trend that could affect the Federal Reserve’s decision about when to begin cutting interest rates.
American consumers feeling more confident than they have in two years
The consumer confidence index, which measures both Americans’ assessment of current economic conditions and their outlook for the next six months, is at its highest level since December of 2021.
Inflation cooled further in December to just above Fed’s target rate
With inflation having dropped sharply after an extended period of gloomy consumer sentiment, Americans are starting to show signs of feeling better about the economy.
Economy grew at surprisingly strong 3.3% pace last quarter
Thursday’s report from the Commerce Department said the gross domestic product—the economy’s total output of goods and services—decelerated from its sizzling 4.9% growth rate the previous quarter.
U.S. growth likely slowed last quarter, but still pointed to resilient economy
On Thursday, the Commerce Department is expected to report that the nation’s gross domestic product—the economy’s total output of goods and services—rose at an annual rate of around 2% from October through December.
As shutdown nears, Congress considers extending funding to March
Funding for 20 percent of the government—including the Transportation Department, some veterans’ assistance and food and drug safety programs—is set to expire Jan. 20, just after midnight.
Parts of economy are better under Biden, but many voters aren’t seeing improvement
Despite rising wages, voters as a group lost spending power during 2021 and 2022 due to inflation and high interest rates, and are still facing an uphill battle.
Once red hot, job market has cooled; unemployment still low
Employers are doing a lot less hiring than they were a year ago—a sign that the job market in Indianapolis, and nationwide, has cooled considerably.
Wholesale inflation declined last month, signaling price pressures still easing
The Labor Department reported Friday that its producer price index—which tracks inflation before it reaches consumers—declined 0.1% from November to December after falling 0.1% in November and 0.4% in October.