Inflation rose two-tenths of a percentage point to 2.6% for the year ending in October, the Bureau of Labor Statistics reported Wednesday in an update to the consumer price index, the first rise in annual inflation in six months. The increase is unwelcome news for the economy and President-elect Donald Trump as he prepares to […]
Inflation has led to price surges at grocery stores, car dealerships and even dine-in restaurants nationwide. A new study finds it’s also the main motive behind another recent surge: shoplifting. More than 20% of Americans have admitted to stealing items from stores within the past year or so, according to a new survey from personal […]
About half of Americans still think the American Dream — the idea that anyone can get ahead through hard work and determination — is achievable, according to findings released Tuesday by Pew Research Center. While 53% say the American Dream remains possible, another 41% believe the life of relative economic security the notion once conjured […]
Millions of Americans have medical debts and want the federal government to introduce a forgiveness scheme, like the one for student loans—but is this likely, and would a one-off program solve the root problem? Loan forgiveness has become a hot topic in recent years following the Biden administration’s en masse policies to eradicate education bills […]
Walgreens is planning potentially sweeping store closures as it faces what its CEO called a “challenging” environment for pharmacies and U.S. consumers. The pharmacy chain on Thursday morning announced quarterly earnings that fell short of Wall Street expectations. Walgreens’ stock dropped more than 20% just minutes into the trading day. In an interview with CNBC, […]
Americans are not feeling good about the state of the economy, and it’s a big problem for President Biden. Even as numerous indicators suggest the U.S. economy is doing remarkably well in the postpandemic era, poll after poll has shown that consumers don’t view the economy in the same light. Nearly 3 in 5 Americans […]
The White House has long touted its “Bidenomics” initiatives to restore American economic prosperity and highlighted the improvement of key topline indicators to claim its efforts have been successful. Administration officials have pointed to an array of data, including the major stock indices, the jobs reports, and inflation rates, as evidence of an improving economic […]
Young Americans are starting out with more credit-card debt than generations before them. That financial burden can have long-lasting effects. The rising debt load largely reflects a surge in prices for food and shelter at the start of their careers, coupled with a larger percentage of Gen Z who graduated with student loans. The average […]
Last Thursday, the Bureau of Economic Analysis released its advance estimate for 2024’s first-quarter real GDP growth. At 1.6 percent, it is the worst quarterly performance since the economy contracted by 0.6 percent almost two years ago in the second quarter of 2022. This was a growth level one-third below economists’ expectations of 2.4 percent. […]
Inflation picked up slightly in March as Americans saw their paychecks rise and kept up a sturdy pace of spending, according to data released Friday by the Commerce Department. The personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred gauge of inflation, rose 0.3 percent in March and 2.7 percent over the past year. […]
The government announced Wednesday morning that inflation rose 0.4% in March, part of a 3.5% increase on an annual basis. The rise, which clearly means that inflation is not subsiding, took some big media outlets by surprise. The New York Times said the increase in prices was “unexpectedly sharp.” The Washington Post called it “hotter […]
The economy has always been the top issue at the ballot box for 65-year-old Garfield Cousins. But this year Cousins, an independent voter in an Atlanta suburb, said the sustained surge of migrants at the southern border will for the first time drive his decision in a presidential election. While illegal border crossings have repeatedly […]
