Consumer confidence is up. Fears of a recession are abating. The economy is growing. And a corroded bridge in Wisconsin is receiving more funding. It is a wintry mix of positive news for President
Category: Finance
Economists Predicted a Recession. So Far They’ve Been Wrong.
The recession America was expecting never showed up. Many economists spent early 2023 predicting a painful downturn, a view so widely held that some commentators started to treat it as a given. Inf
Airlines Hoping for More Boeing Jets Could Be Waiting Awhile
Boeing hoped 2024 would be the year it would significantly increase production of its popular Max jets. But less than a month into the year, the company is struggling to reassure airline customers
U.S. Economy Grew at 3.3% Rate in Latest Quarter
The U.S. economy continued to grow at a healthy pace at the end of 2023, capping a year in which unemployment remained low, inflation cooled and a widely predicted recession never materialized. Gro
Americans’ Economic Confidence Is Returning. Will Biden Benefit?
Low approval ratings and rock-bottom consumer confidence figures have dogged President Biden for months now, a worrying sign for the White House as the country enters a presidential election year.
Climate Change Takes Center Stage in Economics
In early January in San Antonio, dozens of Ph.D. economists packed into a small windowless room in the recesses of a Grand Hyatt to hear brand-new research on the hottest topic of their annual conf
Where Textile Mills Thrived, Remnants Battle for Survival
In his 40-year career, William Lucas has seen nearly every step in the erosion of the American garment industry. As general manager of Eagle Sportswear, a company in Middlesex, N.C., that cuts, sew
The U.S. Seems to Be Dodging a Recession. What Could Go Wrong?
With inflation falling, unemployment low and the Federal Reserve signaling it could soon begin cutting interest rates, forecasters are becoming increasingly optimistic that the U.S. economy could a
The Farmers Had What the Billionaires Wanted
When Jan Sramek walked into the American Legion post in Rio Vista, Calif., for a town-hall meeting last month, everyone in the room knew that he was really just there to get yelled at. For six year
A Fed Governor Reiterates That Rate Cuts Are Coming
A prominent Federal Reserve official on Tuesday laid out a case for lowering interest rates methodically at some point this year as the economy comes into balance and inflation cools — although h
Flush With Investment, New U.S. Factories Face a Familiar Challenge
The Biden administration has begun pumping more than $2 trillion into U.S. factories and infrastructure, investing huge sums to try to strengthen American industry and fight climate change. But the
The Mystery of the Coin That Shouldn’t Exist
A decade ago, a funny money mystery fell into the hands of scientists and students at the Pontifical Catholic University of Peru in Lima. The university had been acquiring 19th- and 20th-century Pe
Trump’s Dominance and Snowy Weather Put Iowa’s Caucus Economy on Ice
Even before a snowstorm brought Des Moines to a near standstill on Friday, the city felt decidedly more subdued than it usually does around the Iowa caucuses: quiet restaurants, empty streets, bart
Microsoft Tops Apple to Become Most Valuable Public Company
The shift is indicative of the importance of new artificial intelligence technology to Silicon Valley and Wall Street investors.
U.S. Steel Acquisition Proposal Tests Biden’s Industrial Policy
The president is under pressure from Democrats and Republicans to block the sale to Japan’s Nippon Steel, which could upset a key foreign ally.
As Utility Bills Rise, Low-Income Americans Struggle for Access to Clean Energy
Cindy Camp is one of many Americans facing rising utility costs. Ms. Camp, who lives in Baltimore with three family members, said her gas and electric bills kept “going up and up” — reaching
Mortgage Rates and Inflation Could Draw Attention to the Fed This Election
This year is set to be a big one for Federal Reserve officials: They are expecting to cut interest rates several times as inflation comes down steadily, giving them a chance to dial back a two-year
Democrats Question Semiconductor Program Ties to Wall Street
Two Democratic lawmakers on Tuesday expressed concerns about ex-Wall Street financiers overseeing the Commerce Department’s distribution of $39 billion in grants to the semiconductor industry, sa
World Bank Warns of Energy Price Surge if Mideast War Spreads
The global economy is at risk of a “wasted” decade and the weakest stretch of growth in 30 years, the World Bank warned on Tuesday, saying a sluggish recovery from the pandemic and crippling wa
U.S. Added 216,000 Jobs in December, Outpacing Forecasts
The U.S. labor market ended 2023 with a bang, gaining more jobs than experts had expected and buoying hopes that the economy can settle into a solid, sustainable level of growth rather than fall in
U.S. Awards Chip Supplier $162 Million to Bolster Critical Industries
The Biden administration on Thursday announced plans to provide $162 million in federal grants to Microchip Technology, an Arizona-based semiconductor company that supplies the automotive, defense
Fed Minutes Showed Officials Feeling Better About Inflation
Federal Reserve officials wanted to use their final policy statement of 2023 to signal that interest rates might be at their peak even as they left the door open to future rate increases, minutes f
Will America’s Good News on Inflation Last?
Prices climbed rapidly in 2021 and 2022, straining American household budgets and chipping away at President Biden’s approval rating. But inflation cooled in late 2023, a spurt of progress that h
Is Jerome Powell’s Fed Pulling Off a Soft Landing?
The Federal Reserve appears to be creeping closer to an outcome that its own staff economists viewed as unlikely just six months ago: lowering inflation back to a normal range without plunging the
Holiday Spending Increased, Defying Fears of a Decline
Despite lingering inflation, Americans increased their spending this holiday season, early data shows. That comes as a big relief for retailers that had spent much of the year fearing the economy w
The Stock and Bond Markets Are Getting Ahead of the Fed.
It’s too early to start celebrating. That’s the Federal Reserve’s sober message — though given half a chance, the markets won’t heed it. In a news conference on Wednesday, and in written
Federal Regulators Seek to Force Starbucks to Reopen 23 Stores
Federal labor regulators accused Starbucks on Wednesday of illegally closing 23 stores to suppress organizing activity and sought to force the company to reopen them. A complaint issued by a region
My Not-So-Perfect Holiday Shopping Excursion With A.I. Chatbots
In addition to Shopify, chatbots have come out over the past 12 months from Instacart, the delivery company; Mercari, a resale platform; Carrefour, a retailer; and Kering, which owns Gucci and Bale
Red Sea Shipping Halt Is Latest Risk to Global Economy
The attacks on crucial shipping traffic in the Red Sea straits by a determined band of militants in Yemen — a spillover from the Israeli-Hamas war in Gaza — is injecting a new dose of instabili
High Housing Prices May Pose a Problem for Biden
Cameron Ambrosy spent the first weekend of December going to 10 open houses — purely for research purposes. The 25-year-old in St. Paul, Minn., has a well-paying job and she and her husband are s
Under Argentina’s New President, Fuel Is Up 60%, and Diaper Prices Have Doubled
Over the past two weeks, the owner of a hip wine bar in Buenos Aires saw the price of beef soar 73 percent, while the zucchini he puts in salads rose 140 percent. An Uber driver paid 60 percent mor
Price Increases Cooled in November as Inflation Falls Toward Fed Target
A closely watched measure of inflation cooled notably in November, good news for the Federal Reserve as officials move toward the next phase in their fight against rapid price increases and a posit
New Mexico’s Spaceport America Is an Economic Dream Deferred
From his tiny gem store in southern New Mexico, Robert Hanseck spends his days untangling chakra beads and answering questions about the healing properties of amethyst crystals. After four decades
U.S. and Europe Eye Russian Assets to Aid Ukraine as Funding Dries Up
The Biden administration is quietly signaling new support for seizing more than $300 billion in Russian central bank assets stashed in Western nations, and has begun urgent discussions with allies
Southwest Airlines Reaches Deal With Pilots Union
Southwest Airlines and its pilots union have reached a tentative deal on a new, five-year labor contract that would raise wages 50 percent over the next several years and increase retirement benefi
What Social Trends Taught Us About the 2023 Economy
From girl dinners to ChatGPT, a look back at the trends that broke the internet and taught us about the American economy this year.
The Debt Problem Is Enormous. Experts Say the System for Fixing It Is Broken.
Martin Guzman was a college freshman at La Universidad Nacional de La Plata, Argentina, in 2001 when a debt crisis prompted default, riots and a devastating depression. A dazed middle class suffere
West Hollywood Minimum Wage, Highest in U.S., Irks Merchants
Josiah Citrin, the owner and chef of a Santa Monica restaurant with two Michelin stars, opened a new steakhouse a few months ago off the Sunset Strip. He is already concerned about whether the rest
Prices for Some Goods Are Actually Falling This Holiday Season
American shoppers, burned by more than two years of rapid inflation, are getting some welcome relief this holiday season: Prices on many products are falling. Toys are almost 3 percent cheaper this
It Took 10 Years to Grow This Christmas Tree. The Price? $105
Amid wild cost fluctuations and extreme weather conditions, a small army of workers toiled for years at Wyckoff’s Christmas Tree Farm in Belvidere, N.J. The goal? Producing this year’s crop, in