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Americans Keep Spending Despite Higher Prices — U.S. Retail Sales Surge 1.2%
American consumers opened their wallets again in August, delivering a stronger-than-expected boost to U.S. retail sales despite persistent inflation and higher fuel prices. Retail sales increased 1.2% in August, according to Commerce Department data, rebounding from a revised 0.5% decline in July. The increase exceeded economists’ expectations and provided another sign that consumer spending remains…
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Fed Official Warns Another U.S. Interest Rate Hike Could Come This Year as Inflation Risks Persist
Americans could face another interest rate increase before the end of 2026 as the Federal Reserve continues its fight against persistent inflation. New York Federal Reserve President John Williams said Thursday that it is reasonable to think the central bank may need to raise interest rates again this year, although he stressed that officials will…
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Nasdaq Hits Record High as AI Optimism Surges and Oil Falls Below $100
Wall Street reached another major milestone Tuesday as the tech-heavy Nasdaq Composite climbed to a fresh record, powered by renewed enthusiasm surrounding artificial intelligence and technology stocks. At the same time, oil prices dropped to two-week lows, with Brent crude falling below $100 per barrel during trading as investors watched signs of improving Middle East…
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Mortgage Rates Near 7% as Higher Interest Rates Put More Pressure on American Households
American consumers are facing another round of financial pressure as borrowing costs remain elevated across the U.S. economy. The average rate on a 30-year mortgage has climbed to around 6.95%, its highest level in more than 18 months, according to reporting from The Associated Press. The increase comes as inflation remains stubbornly high and the…
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The United States and China are entering another crucial round of economic talks as officials from the world’s two largest economies prepare the ground for a high-stakes meeting between President Donald Trump and Chinese President Xi Jinping.
U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in New York on Sunday, with artificial intelligence, tariffs, trade and critical minerals expected to dominate the discussions. The talks come just days before Trump and Xi are scheduled to meet in Washington on September 24. Artificial Intelligence Moves to…
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U.S. Treasury Yield Hits 5% as Higher Borrowing Costs Put Pressure on Americans
U.S. borrowing costs are back in the spotlight after the benchmark 10-year Treasury yield climbed to 5.00% on Friday, adding new pressure to financial markets and potentially affecting everything from mortgages to business loans. The move comes during a turbulent week for the U.S. economy, with investors reacting to persistent inflation, volatile oil prices and…
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Suggested headline: Record Diesel Prices Squeeze U.S. Farmers — Americans Could Soon Feel It at the Grocery Store
American farmers are facing record-high diesel prices at one of the most important times of the year, raising concerns that higher transportation and production costs could eventually reach consumers at the grocery store. The average U.S. retail diesel price reached $6.29 per gallon as of September 14, according to the U.S. Energy Information Administration. That…
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Fed Raises Interest Rates for First Time in Three Years as Iran War Fuels Inflation Pressure
The Federal Reserve has raised U.S. interest rates for the first time in three years, marking a major shift as policymakers confront persistent inflation and economic pressure intensified by the war with Iran. The Fed increased its benchmark interest rate by 0.25 percentage points, bringing the target range to 3.75%–4.00%. The decision was unanimous. First…
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Fed Raises Interest Rates to 3.75%–4.00% as Inflation Pressure Hits U.S. Economy
The Federal Reserve raised interest rates by a quarter percentage point on Wednesday, marking its first rate increase in more than three years as policymakers intensify their fight against persistent inflation. The Federal Open Market Committee voted unanimously to increase the federal funds target range to 3.75%–4.00%. The decision represents a significant shift for U.S.…
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Fed Rate Hike Expected Wednesday as Inflation and Oil Prices Put Pressure on U.S. Economy
The Federal Reserve is widely expected to raise interest rates on Wednesday as persistent inflation, surging oil prices and rising Treasury yields increase pressure on the U.S. central bank. Financial markets are now pricing in a more than 90% chance that policymakers will increase the benchmark interest rate by a quarter percentage point at the…