Americans Curb Spending on Home Improvements
Home Depot warned that its annual sales will fall for first time since 2009. The company said demand for home-improvement...
Economic News
GOP, Democrats Draw Red Lines Ahead of Biden Debt-Ceiling Meeting
The outlines of a possible deal to raise the debt ceiling and limit spending are starting to emerge, but negotiators...
China’s Youth Unemployment Tops 20% Amid Signs of Stalling Recovery
China’s youth unemployment rate rose above 20% for the first time since Beijing began tracking the data five years ago....
Republicans, Democrats Making Progress in Debt-Limit Talks, Yellen Says
The Biden administration and congressional Republicans are making progress in their negotiations over federal spending and raising the debt limit,...
Biden to Nominate Philip Jefferson for Fed’s No. 2 Job
The president will also tap economist Adriana Kugler for a Fed board seat. If confirmed, she would be the first...
Debt-Ceiling Talks Continue as Report Warns of Possible June Default
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Debt-Ceiling Fight Weighs on Defense Industry
Investors fear the fight could delay the passage of next year’s national-security budget—and hurt military contractors. Source link
Fed Official Signals Support for Further Rate Increases
Federal Reserve governor Michelle Bowman says there hasn’t been sufficient evidence of a labor market or inflation slowdown. Source link
CPI Report Shows Inflation Eased in April but Remains Stubbornly High
Inflation eased to 4.9% in April, the Labor Department said Wednesday, as the economy showed signs of cooling. Source link
America’s Factory Boom Drives Sales Surge for Excavators, Steel and Trucks
Construction of semiconductor and battery factories helps Caterpillar, Nucor and other manufacturers plow past economic uncertainty and rising interest rates....
Robust Hiring in April Shows U.S. Job Market Remains Hot in Cooling Economy
Hiring picked up as employers added 253,000 jobs last month. The unemployment rate fell to 3.4%. Source link
U.S. Trade With World Rose in March on Energy, Auto Shipments
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Federal Reserve Raises Rates, Signals Potential Pause
Central bank officials remove earlier guidance that had pointed to further increases. Source link
New Zealand Economy Well Placed to Handle Surge in Rates, RBNZ Says
SYDNEY—New Zealand’s financial system is well placed to handle rising interest rates and uncertainty in the international financial system, the...
Why Is Inflation So Sticky? It Could Be Corporate Profits
Inflation has proved more stubborn than central banks bargained for when prices started surging two years ago. Now some economists...
Treasury Chief Janet Yellen Says U.S. Risks Default as Soon as June 1 Without Debt Ceiling Increase
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Republicans, Democrats Clash Over Linking Aid for Poor Americans to Work
Proposed restrictions on federal aid are among several demands Republicans are making in exchange for raising the nation’s borrowing limit....
China’s Consumers Lead Recovery in April
Retail spending has come back strong, but surveys also showed a surprise contraction in factory activity in April. Source link
Republicans Effectively Voted to Raise Taxes. They’re Fine With That.
House Republicans advanced a repeal of clean-energy tax credits without offsetting tax cuts—even though most have signed a no-tax-hike pledge....
Fed Says It Failed to Act on Problems That Led to Silicon Valley Bank Collapse
Michael Barr, the Fed’s vice chair for supervision, said supervisors didn’t fully appreciate the extent of the vulnerabilities as SVB...
