2 failed banks, February inflation remaining high put Fed in tough spot
The government reported Tuesday that February prices were still elevated, which could drive another interest rate hike. But the collapse of two banks in recent days has the potential to stop it.
The government reported Tuesday that February prices were still elevated, which could drive another interest rate hike. But the collapse of two banks in recent days has the potential to stop it.
Silicon Valley Bank seized by regulators
Silicon Valley Bank, known as SVB, is the largest bank failure since the height of the 2008 financial crisis.
Silicon Valley Bank, known as SVB, is the largest bank failure since the height of the 2008 financial crisis.
Powell signals increased interest rate hikes if economy stays strong
Chair Jerome Powell's comments raise the possibility that the Fed will increase its key interest rate by a half-percentage point at its next meeting, after having carried out a quarter-point hike in February.
Chair Jerome Powell's comments raise the possibility that the Fed will increase its key interest rate by a half-percentage point at its next meeting, after having carried out a quarter-point hike in February.
Costco maintaining low rotisserie chicken prices
Rotisserie chicken is just one example of key categories Costco members covet
Rotisserie chicken is just one example of key categories Costco members covet
Education industry at highest risk for layoffs over next 6 months: survey
A recent survey reveals that the education sector was the most susceptible to layoffs in 2023 if there's a recession.
A recent survey reveals that the education sector was the most susceptible to layoffs in 2023 if there's a recession.
'Real leader': Biden nominates Julie Su as next US labor secretary
Julie Su, a civil rights attorney and former head of California’s labor department, was central to negotiations between labor and freight rail companies late last year, working to avert an economically debilitating strike.
Julie Su, a civil rights attorney and former head of California’s labor department, was central to negotiations between labor and freight rail companies late last year, working to avert an economically debilitating strike.
Can the Fed keep raising interest rates without causing a recession? Research says no
Such an "immaculate disinflation" has never happened before, economists say.
Such an "immaculate disinflation" has never happened before, economists say.
Fed officials signal more rate hikes likely amid sticky inflation, minutes show
Federal Reserve policymakers see more interest rate hikes ahead.
Federal Reserve policymakers see more interest rate hikes ahead.
Plunging natural gas prices eases inflation concerns
Natural gas accounts for nearly 25% of residential energy needs, making it a big driver in last year’s worst bout of inflation in 40 years.
Natural gas accounts for nearly 25% of residential energy needs, making it a big driver in last year’s worst bout of inflation in 40 years.
White House says GOP plans would add $3 trillion to national debt
The White House is charging the GOP with hypocrisy for favoring tax policies that could push the accumulated $31.4 trillion national debt higher.
The White House is charging the GOP with hypocrisy for favoring tax policies that could push the accumulated $31.4 trillion national debt higher.
US inflation slows to 6.4%, but price pressures re-emerge
Consumer prices climbed 6.4% in January from a year earlier, down from 6.5% in December. It was the seventh straight year-over-year slowdown and well below a recent peak of 9.1% in June.
Consumer prices climbed 6.4% in January from a year earlier, down from 6.5% in December. It was the seventh straight year-over-year slowdown and well below a recent peak of 9.1% in June.
President Biden speaks at University of Tampa on Social Security, Medicare
Fresh off his State of the Union address, where he touted the formation of 12 million jobs during his administration and the lowest unemployment rate since 1969, President Joe Biden was in Tampa Thursday to discuss the importance of key social programs.
Fresh off his State of the Union address, where he touted the formation of 12 million jobs during his administration and the lowest unemployment rate since 1969, President Joe Biden was in Tampa Thursday to discuss the importance of key social programs.
Report: Boeing to cut 2,000 finance and HR jobs in 2023
A statement by the Virginia company says the jobs will be reduced “through a combination of attrition and layoffs” this year.
A statement by the Virginia company says the jobs will be reduced “through a combination of attrition and layoffs” this year.
More Americans live paycheck to paycheck, report finds
A report found 166 million consumers in the US fall into that category.
A report found 166 million consumers in the US fall into that category.
Bed Bath & Beyond closing 87 additional stores. Here’s the list of locations
The latest store closings are impacting the struggling retailer as it considers its options, including possibly filing for bankruptcy.
The latest store closings are impacting the struggling retailer as it considers its options, including possibly filing for bankruptcy.
Exxon earns record profits in 2022 with surge in energy prices
Exxon raked in over $12 billion in profits to raise its annual net income to a staggering $55.7 billion.
Exxon raked in over $12 billion in profits to raise its annual net income to a staggering $55.7 billion.
Walmart trying out more 'upscale' stores with launch of new designs, upgrades
The retailer has renovated nearly 1,000 stores with the redesigns, and several have recently opened.
The retailer has renovated nearly 1,000 stores with the redesigns, and several have recently opened.
Americans struggling to make car payments is highest since Great Recession
Car repossessions are growing as Americans still struggle with high car prices and inflation.
Car repossessions are growing as Americans still struggle with high car prices and inflation.
Hasbro laying off 1,000 employees amid cost-savings push
The company well-known for Monopoly, Play-Doh, and My Little Pony toys says the layoffs are 15% of its global full-time workforce.
The company well-known for Monopoly, Play-Doh, and My Little Pony toys says the layoffs are 15% of its global full-time workforce.
Chipotle looks to hire 15,000 people in US amid continuing labor shortage
Other chains, including Taco Bell and Starbucks, are also looking for workers.
Other chains, including Taco Bell and Starbucks, are also looking for workers.