Federal Reserve policymakers were concerned about high energy prices contributing to inflationary pressures in the economy when they held interest rates steady last month, the minutes from the meeting show. The Federal Open Market Committee (FOMC), the Fed panel responsible for monetary policy decisions, released the minutes of policymakers’ April…
The federal government is projected to run a budget deficit of at least $2 trillion this fiscal year, according to an estimate by the Treasury Department and bond market participants. Earlier this month, the Treasury released its quarterly refunding documents for the second quarter of the calendar year, which included…
Despite triumphant headlines from Wall Street, one prominent economic forecaster is sounding the alarm that the U.S. economy is sitting on a razor’s edge. In a recent interview with TheStreet, Moody’s Analytics chief economist Mark Zandi placed the probability of a U.S. recession within the next year at 40%, compared…
For 25 years, Mike Georgopoulos — better known to his friends as “Mikey G” — has built a legacy in San Diego, opening 30 restaurants in the last decade alone. But today, the veteran entrepreneur says the California dream is being choked by a math problem that no longer adds…
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Walmart is cutting or relocating jobs as the world’s largest retailer undertakes an effort to simplify its operating structure. The…
Boeing CEO Kelly Ortberg is among the group of American business leaders who have traveled to China with President Donald…
Passengers aboard Disney Cruise Line’s Disney Adventure say their four-night Singapore sailing was canceled after boarding due to technical issues,…
Discount retailer Burlington is planning to open more than two dozen stores in 20 states this month as the company…
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Social Security beneficiaries are expected to see a larger cost-of-living adjustment (COLA) next year amid rising inflation, according to new reports. An analysis by The Senior Citizens League (TSCL) predicts that the 2027 COLA will be 3.9%, which would represent an increase of 1.1 percentage…
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The artificial intelligence (AI) boom has caused a surge in luxury real estate prices in the Bay Area, although more affordable areas in Silicon Valley haven’t seen the same gains since the launch of ChatGPT kickstarted the tech sector’s AI race. An analysis by Redfin compared the median home sale…
This story about the April 2026 jobs report is developing and will be updated with further details. The U.S. economy added jobs at a modest pace in April amid uncertainty surrounding the impact of conflict in the Middle East on the labor market.What are the key findings of the April…
A new report by the Federal Reserve Bank of New York finds that the recent rise in gas prices has affected households very differently based on their income level. Energy prices hit a four-year high in March amid the Iran war, prompting the closure of the Strait of Hormuz, which…
The slowing labor market is posing a challenge to recent college graduates looking to begin their careers, with many new graduates finding work in Southern cities. A study by ADP using anonymized data to compare the 53 largest metro areas in the U.S. based on hiring, wages and affordability for…
Tesla is recalling more than 218,000 vehicles because of delayed rearview camera images that could increase the risk of a crash, the National Highway Traffic Safety Administration (NHTSA) announced on Wednesday. A total of 218,868 Model 3, Model Y, Model S and Model X vehicles are affected by the recall.The…
New Disney CEO Josh D’Amaro outlined a new growth strategy for the entertainment giant as the company announced its quarterly results, which includes a focus on investing in content as well as technology. D’Amaro, who succeeded former Disney CEO Bob Iger in mid-March, said in a letter to shareholders that…
As the U.S. approaches its 250th anniversary, small businesses remain a cornerstone of the American economy, employing nearly half of the private sector workforce and powering communities across the country. On Staten Island, that story is playing out in real time for restaurant owner Rob DeLuca.DeLuca didn’t initially plan on…
Companies in the private sector added 109,000 jobs in April, payroll processing firm ADP said Wednesday. The figure is above economists’ estimates of a gain of 99,000 jobs. The prior month’s payrolls number was revised lower to a gain of 61,000 from an initially reported gain of 62,000. Which industries…
The national average price for regular gasoline surged above $4.50 per gallon Wednesday, as ongoing tensions between the U.S. and Iran continued to pressure fuel costs for American drivers. AAA reported the national average for regular gas at $4.536 as of Wednesday, up more than five cents from Tuesday’s $4.483…
U.S. financial regulators are proposing to switch required filings for publicly traded companies from quarterly reporting to semiannual. The Securities and Exchange Commission on Tuesday released its amended proposal for optional semiannual reporting for companies on Wall Street. SEC officials say the change in frequency of reporting won’t impact the…
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