Rising Risk of Recession Creates New Headache for Biden
The Federal Reserve’s efforts to slow inflation are raising the possibility of higher unemployment, a slower-growing economy and a recession,...
Economic News
Japan Inflation Tops 2% for First Time in 13 Years
TOKYO—Consumer prices in Japan rose at a pace above 2% for the first time in more than 13 years, a...
Fed Nominee Michael Barr Supports Rewriting Lending Rules, Cautious on Capital Requirements
WASHINGTON— Michael Barr, President Biden’s pick to become the government’s most influential bank regulator, told senators that he supports a...
U.K. Inflation Hits 40-Year High, Putting Government on Defensive
LONDON—The U.K.’s annual rate of inflation jumped to a forty-year-high in April, the highest level recorded by an industrialized nation...
WSJ News Exclusive | Powell Says Fed Has Resolve to Bring U.S. Inflation Down
Federal Reserve Chairman Jerome Powell said the central bank’s resolve in combating the highest inflation in 40 years shouldn’t be...
Walmart Earnings Are Dented by Higher Costs
Walmart said inflation created more pressure than it had expected on margins. A Walmart store in Pico Rivera, Calif. Photo:...
EU Sees Economic Contraction if Russian Gas Supplies Are Halted
The European Union’s economy would likely contract during the remainder of this year if supplies of natural gas from Russia...
Used-Car Buyers Are Seeing Relief on Once-Soaring Prices
Rising used-car prices, which have been a big contributor to inflation over the past year, are starting to ease with...
Why It’s So Hard to Keep Russian Diamonds and Gold Out of the U.S. Despite Sanctions
Russian gold and diamonds could still be sold in the U.S. despite being sanctioned, lawmakers and industry participants say, unless...
Senate Confirms Jerome Powell to Second Term Leading Federal Reserve
Mr. Powell’s nomination, approved Thursday on an 80-19 vote, has been on track for months to win bipartisan approval despite...
Lisa Cook Wins Senate Confirmation to Federal Reserve
Lisa Cook served as an economist on the staff of the Council of Economic Advisers during the Obama administration. Photo:...
Americans Planning Summer Travel Face a New Hurdle: High Inflation
Americans itching to travel this summer after navigating Covid-19 for the past two years face a new disruption to plans:...
Economy Week Ahead: U.S. Inflation, China’s Exports in Focus
Shoppers in a San Francisco grocery store earlier this month. Economists forecast that year-over-year readings for the consumer-price index started...
Consumers Have Spearheaded Recovery, but Data Signal a Potential Change
American consumers are at a crossroads. In large part, they have weathered the economic storm caused by the pandemic, saved...
Rapid Pace of U.S. Job Growth Stretched Into April
The U.S. labor market extended a run of rapid job growth last month despite jittery markets and increased economic uncertainty,...
Fed Lifts Interest Rates by Half-Point in Biggest Hike Since 2000
The Federal Reserve approved a rare half-percentage-point interest rate increase—the largest since 2000—and a plan to shrink its $9 trillion...
EU Proposes Ban on Russian Oil Imports
BRUSSELS—The European Union proposed a ban on imports of Russian crude oil within six months and on refined oil products...
EU Prepares Ban on Russian Oil
The European Union is likely to propose ending purchases of Russian crude oil by the 27-country bloc before the end...
Conservation Tax-Break Deals Keep Flowing Despite IRS Crackdown
WASHINGTON—More than six years into an Internal Revenue Service clampdown on what the agency says are abuses of land-conservation tax...
Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash
Big oil companies are continuing to reap the benefits of high commodity prices but aren’t backing off plans to reward...
