economy

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Fed Chief Indicates We're In for a Rate Cut

Possibly as soon as the July meeting

(Newser) - The S&P 500 crossed the 3,000 threshold for the first time ever Wednesday, as expectations for a July rate cut rise, reports CNBC . Federal Reserve Chairman Jerome Powell said Wednesday that "many" Fed officials believe a weakening global economy and rising trade tensions have strengthened the case...

Here Are the States With the Best, Worst Economies

Washington state comes in at No. 1; Alaska is dead last

(Newser) - It takes a village—or, in the case of the US economy, each individual state doing its fair share. WalletHub took a look at all 50 states and DC to see how they all fared across more than two dozen metrics in three categories: economic activity (including startup presence and...

For Trump, It's Obviously #1. Others Predict Disaster

The economy looks great, but some see a recession coming

(Newser) - Record job growth. Historic low unemployment. Rising wages. Even the Washington Post —hardly President Trump's biggest backer—is breathless over the US economy, but some experts are wondering whether the party can last. First, the good news: Employers tacked on 263,000 new jobs in April and US...

Unemployment Is Now at a 50-Year Low

Falls to 3.6% in strong new jobs report

(Newser) - The monthly jobs report is out, and it's another strong one. Employers added 263,000 jobs in April, solidly above expectations of about 181,000, per the AP . What's more, the unemployment rate ticked down to 3.6% from 3.8% and is now the lowest it has...

GDP Growth Just Misses Trump&#39;s Goal of 3%
GDP Growth Slides
Back Under 3% 
Feb 28, 2019 10:40 AM CST

GDP Growth Slides Back Under 3%

That's the benchmark Trump wants, but 2018 falls just short

(Newser) - The US economy slowed in the final three months of last year to an annual growth rate of 2.6%, the slowest pace since the beginning of 2018, as the government shutdown and other factors took a toll, per the AP . "Softer but still solid" is how the Wall ...

Dow Takes Another Big Dive
Dow Takes Another Big Dive
Oct 26, 2018 10:13 AM CDT

Dow Takes Another Big Dive

Index was down more than 500 points

(Newser) - The stock market's rebound on Thursday was short-lived. The Dow plunged more than 500 points at one point Friday morning thanks to a slew of concerns, including disappointing earnings reports from Amazon and Alphabet, the parent of Google. Worries about tariffs and economic slowdowns in China and Europe added...

Supreme Leader of Iran Rebuffs Trump's Talks Offer

Calls US government 'duplicitous,' but also says 'there will be no war'

(Newser) - If anyone was unsure what Iran's supreme leader thought of President Trump's offer to hold talks after the US reimposed "the most biting sanctions" on Iran last week, all doubt has been removed, per Reuters . "I ban holding any talks with America. … America never remains...

Stocks Up on Good News for Banks, Bad News for Borrowers

Rates are going higher as data shows confidence growing since Great Recession

(Newser) - US stocks mostly rose Thursday, as markets get accustomed to the idea of investing with less of a safety net from central banks around the world, reports the AP . The European Central Bank laid out its plan to pull back from the stimulus it's pumped into markets, but it...

California Now World's 5th Biggest Economy

State's GDP surpasses $2.7 trillion

(Newser) - California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday, the AP reports. California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data says. Meanwhile, the...

Report: 200K Jobs Added by US Employers in January

And wage growth is at fastest rate in 8 years

(Newser) - US employers added a robust 200,000 jobs in January, and wages rose at the fastest pace in more than eight years. The pay gains suggest employers are competing more fiercely for workers. Raises stemming from Republican tax cuts and minimum wage increases in 18 states also likely boosted pay....

Iran Judge Says Protesters Could Be Executed
Iran Judge Says Protesters
Could Be Executed
THE RUNDOWN
Jan 2, 2018 6:41 AM CST

Iran Judge Says Protesters Could Be Executed

Trump seeks international support for protests

(Newser) - The death toll in the protests sweeping Iran is now at least 20—and it could end up a lot higher under a recommendation from the head of Tehran's Revolutionary Court. According to Iran's semi-official Tasnim News Agency, Mousa Ghazanfarabadi said Tuesday that some of the hundreds of...

Economy Grows at Fastest Clip in 2 Years

Next quarter expected to falter because of hurricanes

(Newser) - The US economy grew at an upgraded annual rate of 3.1% in the spring, the fastest pace in more than two years. But growth is expected to slow sharply this quarter in the wake of a string of devastating hurricanes, per the AP . The April-June expansion in the gross...

Only One Country Beat US for Most Competitive Economy

Switzerland is No. 1 in World Economic Forum ranking

(Newser) - One of Donald Trump's platforms during the presidential campaign was to "restore America's competitive edge," but the US might not be doing so shabby after all. Quartz , which features the World Economic Forum's new Global Competitiveness Report , notes that the United States has actually ascended...

President Obama Saved the Economy. It Wasn't Enough

Why his presidency was a bloodbath for the Democratic Party

(Newser) - Faced with an "economy in crisis" when he took office in 2008, President Obama preached recovery. And he actually accomplished it, leaving behind a legacy of higher wages and nearly full employment. So why then does his legacy also include "the more than 1,000 Democrats who lost...

Half of 30-Year-Olds Don't Make What Their Parents Did

New study casts 'American dream' in troubled light

(Newser) - The American dream isn't dead, but it's got one foot in the grave, according to new research . The Washington Post reports that 92% of people born in 1940 earned more money at 30 years old than their parents did when they were the same age. Researchers say doing...

Clinton Blasts 'Outlandish Trumpian Ideas' on Economy

She accuses Trump's economic plan of only looking out for Trump

(Newser) - Hillary Clinton accused Donald Trump's economic plan of including "outlandish Trumpian ideas that even Republicans reject" during a speech Thursday responding to Trump's economic speech earlier this week, the New York Times reports. “He wants America to work for him and his friends at the expense...

'Basic Income for All' Plan Goes Down in Flames

Swiss voters overwhelmingly reject proposal

(Newser) - A Swiss proposal to ensure that all adult citizens receive a basic income has been rejected, the BBC reports. Voters rejected it by nearly 77% to 23% in a Sunday referendum, apparently unswayed by arguments favoring a guaranteed monthly income of $2,555 for adults and $640 for children. "...

Janet Yellen Offers More Evidence of a Strong US Economy

Fed could raise its interest rate for first time in years

(Newser) - It's becoming more and more likely the Federal Reserve will raise its interest rates this month for the first time in nearly a decade, USA Today reports. The economy has already hit the Fed's goal of 5% unemployment and is closing in on its goal of 2% inflation,...

Jobless Figures Surprisingly Weak

Rate remains at 5.1%, but fewer jobs than expected were created

(Newser) - Not so great news out of the Labor Department this morning: The economy created 142,000 jobs in September, well below forecasts of more than 200,000, reports the AP . Even so, the unemployment rate remained unchanged at 5.1%. The 142,000 may initially sound worse than last month'...

Trump Has a Beef With Oreo
 Trump Has a Beef With Oreo  
Aug 26, 2015 2:46 PM CDT

Trump Has a Beef With Oreo

Vows to stop eating Oreos over plans for production lines in Mexico

(Newser) - Having clearly never been exposed to the wonders of Mexican Coke, Donald Trump yesterday reiterated his vow to go cold-turkey on Oreos over a plan to move production of the cookies south of the border. "I'm never eating Oreos again," Trump said. The cookie kerfuffle stems from...

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