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News Articles: US economy

A security guard looks out a door as customers line up at Silicon Valley Bank headquarters in Santa Clara, California on March 13, 2023.

Tagged as: 

  • Economy

SVB collapse could have ripple effects on minority-owned banks

Four minority founders reflect on the health of minority-owned banks in the U.S. following the sudden collapse of SVB.

March 28, 2023
|
By:
  • Destinee Adams and
  • Amra Pasic
Why should you care about the knotty problems of the banking world? Below are a few possible consequences to watch.

Tagged as: 

  • Economy

Could the banking turmoil affect you? 5 ways it might

There are possible consequences for regular people, small businesses and the economy.

March 21, 2023
|
By:
  • Alina Selyukh
Shoppers browse at a grocery store in Washington, D.C. Retail sales dipped in February after surging in the previous month.

Tagged as: 

  • Economy

The unexpected American shopping spree seems to have cooled

Retail sales dipped 0.4% in February after a surprise start-of-the-year surge that appeared at odds with the Federal Reserve's goal of cooling down the economy.

March 15, 2023
|
By:
  • Alina Selyukh
A security guard at Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. The Fed will now need to factor in the impact of the collapse of the lender, along with Signature Bank, as it makes its next decision on interest rates.

Tagged as: 

  • Economy

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

March 14, 2023
|
By:
  • Scott Horsley
Zoom CEO and founder Eric Yuan speaks before the Nasdaq opening bell ceremony in April 2019. The company saw rapid growth during the pandemic but is now laying off about 15% of its workforce.

Tagged as: 

  • Business

Zoom is the latest tech firm to announce layoffs, and its CEO will take a 98% pay cut

Zoom, a hallmark of pandemic life, is laying off some 1,300 employees, or about 15% of its workforce. CEO Eric Yuan said he and other executives will take pay cuts and forgo bonuses.

February 08, 2023
|
By:
  • Rachel Treisman
A 'help wanted' sign is displayed in a window of a store in Manhattan, New York City, on Dec. 2, 2022. U.S. employers added an unexpectedly strong 517,000 jobs in January, showcasing the labor market is red-hot. The unemployment rate fell to its lowest level in more than half a century.

Tagged as: 

  • Economy

U.S. employers added 517,000 jobs last month. It's a surprisingly strong number

U.S. employers added 517,000 jobs in January, as the unemployment rate fell to 3.4% . The job market remains tight, despite signs of a slowing economy.

February 03, 2023
|
By:
  • Scott Horsley
Women carry shopping bags as customers visit the American Mall dream mall during Black Friday on Nov. 25, 2022 in East Rutherford, N.J. The U.S. economy ended 2022 on a strong note, but fears of a recession are growing.

Tagged as: 

  • Economy

The U.S. economy ended 2022 on a high note. This year is looking different

The U.S. economy grew at an annual rate of 2.9% in the final three months of last year — a surprisingly strong finish. But growth is expected to slow in 2023, and possibly even reverse.

January 26, 2023
|
By:
  • Scott Horsley
A Target customer looks at a display of board games while shopping at Target store in San Francisco, Calif. Inflation continues to ease, even if many people many not feel that way in their daily lives.

Tagged as: 

  • Economy

Inflation is easing, even if it may not feel that way

Annual inflation continued to ease, cooling to 6.5% in December, but prices are still climbing at a rapid rate, meaning people have to work longer and harder to keep the same standard of living.

January 12, 2023
|
By:
  • Scott Horsley
A "Now Hiring" sign is displayed on a storefront in the Adams Morgan heighborhood in Washington, D.C., on Oct. 07, 2022 .

Tagged as: 

  • Economy

The U.S. job market is still healthy, but it's slowing down as recession fears mount

U.S. employers added 223,000 jobs in December, as the unemployment rate dipped to 3.5%. Despite some high-profile layoff announcements, the overall job market remains tight.

January 06, 2023
|
By:
  • Scott Horsley

Tagged as: 

  • Your Money

These 7 charts show how life got pricier (and, yes, cheaper!) in 2022

Boy, have we talked a lot about inflation. It affected every part of our lives (and the economy) in 2022. Here are some of its highest highs and lowest lows. (It wasn't all bad news!)

December 23, 2022
|
By:
  • Stacey Vanek Smith,
  • Alina Selyukh,
  • and 1 more
Alysa MacClellan, 47, prepares to send volunteers to their designated drop offs at a food distribution site in Washington, D.C.

Tagged as: 

  • Business

How food banks are dealing with rising prices, lower donations and more need

Food banks and nonprofits say inflation has hurt fundraising and made it hard to handle a surge in demand. One CEO says the need is close to the height of the pandemic.

December 22, 2022
|
By:
  • Mary Yang
Consumers shop in the produce section of a Walmart store in Burbank, Calif., on August 15, 2022. Produce prices have been rising recently, the latest area hit by inflation.

Tagged as: 

  • Economy

Inflation dips in November, as gasoline savings eclipse grocery price increases

A new government report shows inflation cooled a bit in November. But prices are still climbing and the Federal Reserve is preparing to raise interest rates again.

December 13, 2022
|
By:
  • Scott Horsley
A man ponders the options at a Dollar Store in Alhambra, California. Shoppers continue to face high prices on everyday goods. Inflation is the top voter concern in the midterm elections.

Tagged as: 

  • Politics

Inflation is top issue in this week's midterms

Rising prices are a top concern for voters in this year's midterm elections, outpacing abortion, crime and defending democracy. Prices in September were up 8.2% from a year ago.

November 08, 2022
|
By:
  • Scott Horsley
Workers attach siding to a house at a new home construction site in Trappe, Maryland, on October 28, 2022. Rising interest rates could mean slowing job growth in construction and manufacturing.

Tagged as: 

  • Economy

U.S. hiring cooled slightly in October. That could help to ease inflation

Hiring slowed modestly in October, as employers added 261,000 jobs. That might take some of the upward pressure off inflation.

November 04, 2022
|
By:
  • Scott Horsley
Federal Reserve Chair Jerome Powell attends a meeting of the International Monetary and Financial Committee in Washington, DC, on Oct. 14. Powell announced another interest rate hike on Wednesday.

Tagged as: 

  • Economy

The Fed orders another jumbo interest rate hike. Many are wondering what's next

The Federal Reserve raised interest rates by another 0.75 percentage points Wednesday, as part of its ongoing effort to fight inflation. The big question is, what happens next.

November 03, 2022
|
By:
  • Scott Horsley
  • Load More

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