Economist urges Fed to meet 'now' to cut rates as stocks tumble: It's a 'frightening time'

Economist urges Fed to meet 'now' to cut rates as stocks tumble: It's a 'frightening time'

Economist Stephen Moore urged the Federal Reserve to address falling commodity prices and shift from inflation concerns to deflation, while Fed Chairman Jerome Powell indicated a potential rate cut if inflation cools, amidst a market meltdown driven by recession fears.

Economist Stephen Moore urged the Federal Reserve to address falling commodity prices and shift from inflation concerns to deflation, while Fed Chairman Jerome Powell indicated a potential rate cut if inflation cools, amidst a market meltdown driven by recession fears.

Dow drops 1K points, Japanese stocks suffer worst crash since 1987

Dow drops 1K points, Japanese stocks suffer worst crash since 1987

Nearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.

Nearly everything on Wall Street is tumbling Monday as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.

Study ranks US states with most financially-distressed residents

Study ranks US states with most financially-distressed residents

WalletHub's recent study reveals the U.S. states with the most financially-distressed residents, highlighting surprising trends and economic struggles. Michigan tops the list, followed closely by Texas and Nevada.

WalletHub's recent study reveals the U.S. states with the most financially-distressed residents, highlighting surprising trends and economic struggles. Michigan tops the list, followed closely by Texas and Nevada.

Federal Reserve sees progress with inflation, hinting that a rate cut is near

Federal Reserve sees progress with inflation, hinting that a rate cut is near

The Federal Reserve said progress was made to lower inflation, suggesting that the central bank is moving closer to cutting its key interest rate for the first time in four years.

The Federal Reserve said progress was made to lower inflation, suggesting that the central bank is moving closer to cutting its key interest rate for the first time in four years.

Chester officials give up to $50,000 in grants to help revamp businesses

Chester officials give up to $50,000 in grants to help revamp businesses

Chester officials are helping businesses in the city revamp their buildings with grants up to $50,000. FOX 29's Greg Payne has the story.

Chester officials are helping businesses in the city revamp their buildings with grants up to $50,000. FOX 29's Greg Payne has the story.

US national debt tops $35 trillion, hitting new record

US national debt tops $35 trillion, hitting new record

The U.S. gross national debt hit $35,001,278,179,208.67 on Monday, according to the Treasury Department.

The U.S. gross national debt hit $35,001,278,179,208.67 on Monday, according to the Treasury Department.

US economic growth increased last quarter to a healthy 2.8% annual rate

US economic growth increased last quarter to a healthy 2.8% annual rate

The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates.

The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates.

Social Security just announced a change for millions of beneficiaries

Social Security just announced a change for millions of beneficiaries

Millions of Social Security recipients must switch to a new Login.gov portal to continue accessing their online account information, as announced by the Social Security Administration.

Millions of Social Security recipients must switch to a new Login.gov portal to continue accessing their online account information, as announced by the Social Security Administration.

US store openings currently outpace closures by 20%, report says

US store openings currently outpace closures by 20%, report says

Several notable stores have opened new locations amid some others closing their doors. See which stores are coming to or leaving your area in 2024.

Several notable stores have opened new locations amid some others closing their doors. See which stores are coming to or leaving your area in 2024.

U.S. unemployment rate rises to 4.1% with 206,000 jobs added in June

U.S. unemployment rate rises to 4.1% with 206,000 jobs added in June

U.S. employers added 206,000 jobs in June, exceeding expectations, with the unemployment rate rising to 4.1%, while April and May job data was revised down, average hourly earnings increased by 3.9%, and hiring was strong in government, social assistance, and health care, influencing potential Federal Reserve rate cuts.

U.S. employers added 206,000 jobs in June, exceeding expectations, with the unemployment rate rising to 4.1%, while April and May job data was revised down, average hourly earnings increased by 3.9%, and hiring was strong in government, social assistance, and health care, influencing potential Federal Reserve rate cuts.

Governor Shapiro announces rollout of $266 million in property tax, rent rebates will begin July 1

Governor Shapiro announces rollout of $266 million in property tax, rent rebates will begin July 1

Thousands of Pennsylvania residents will receive more money thanks in part to Governor Josh Shapiro's expansion of the Property Tax/Rent Rebate program, delivering the largest targeted tax cut for seniors in nearly two decades.

Thousands of Pennsylvania residents will receive more money thanks in part to Governor Josh Shapiro's expansion of the Property Tax/Rent Rebate program, delivering the largest targeted tax cut for seniors in nearly two decades.

Major retailers closing doors amid inflation, lower consumer demand

Major retailers closing doors amid inflation, lower consumer demand

Major retail chains are being forced to close thousands of brick-and-mortar stores across the U.S., with a number of reasons cited for the shutdowns.

Major retail chains are being forced to close thousands of brick-and-mortar stores across the U.S., with a number of reasons cited for the shutdowns.

Fed holds interest rates steady, projects just one cut this year

Fed holds interest rates steady, projects just one cut this year

The Federal Reserve on Wednesday held interest rates steady for the seventh straight time and scaled back the outlook for rate reductions later this year as high inflation lingers.

The Federal Reserve on Wednesday held interest rates steady for the seventh straight time and scaled back the outlook for rate reductions later this year as high inflation lingers.

Here's who's hiring teens this summer – and which jobs pay the most

Here's who's hiring teens this summer – and which jobs pay the most

Young workers account for about a third of all new hires each June. Here's which jobs hire the most teens – and which ones pay the most.

Young workers account for about a third of all new hires each June. Here's which jobs hire the most teens – and which ones pay the most.

U.S. economy adds 272,000 jobs in May, but unemployment rate rises to 4%

U.S. economy adds 272,000 jobs in May, but unemployment rate rises to 4%

The latest reports show companies hiring more people in May than anticipated, despite continuing inflation and high interest rates. While the economy is still growing, there are ongoing concerns.

The latest reports show companies hiring more people in May than anticipated, despite continuing inflation and high interest rates. While the economy is still growing, there are ongoing concerns.