Business
U.S. Economy Grew 2.3 Percent in Fourth Quarter
Growth slowed but remained resilient at the end of 2024, leaving the U.S. economy on solid footing heading into a new year — and a new…
Tag
United States Economy
Business
Higher Interest Rates Make Federal Debt More Expensive
The path of interest rates over the next year doesn’t just affect the cost of mortgages and car loans. It also makes it more expensive for…
Business
How Fed Rates Influence Mortgages, Credit Cards, Savings and More
The Federal Reserve is expected to keep its key rate steady on Wednesday, after a series of cuts that lowered rates by a full percentage…
Business
Trump’s Tariffs Scramble Fed’s Interest Rate Calculus
The Federal Reserve’s efforts to orchestrate a “soft landing” for the United States economy are facing a torrent of uncertainty as the…
Business
What to Watch at the Federal Reserve’s First Meeting of 2025
The Federal Reserve is set to stand pat at its first gathering of 2025, pressing pause on interest rate cuts as policymakers take stock of…
Business
The Fed Is About to Hit Pause on Rate Cuts. Here’s Why.
At the Federal Reserve’s final gathering of 2024, Chair Jerome H. Powell announced that the U.S. central bank was embarking on a “new…
Politics
Senate Confirms Scott Bessent as Treasury Secretary
The Senate on Monday voted 68 to 29 to confirm Scott Bessent to be President Trump’s Treasury secretary, putting in place the new…
Business
Existing-Home Sales in 2024 Were Slowest in Decades Amid High Mortgage Rates
High interest rates kept U.S. home sales in a deep freeze for much of last year. It could be a while before the market experiences much of…
Business
Trump’s Inflation Fix Centers on Energy Emergency That Doesn’t Exist
President Trump has put unleashing American energy production at the center of his economic agenda, saying that ramping up fossil fuel…
Politics
How the Debt Could Hamstring Trump’s Agenda
When House Republicans gathered behind closed doors on Capitol Hill last week to hash out their plans for cutting taxes, Representative…
Politics
How Trump’s Tariffs Could Affect the U.S., Canada and Mexico
Decades of trade integration across North America are on the precipice of major disruption by tariffs that President Trump says he wants…
Politics
Trump Pitches External Revenue Service to Collect Tariffs: What to Know
President Trump has promised to generate a “massive” amount of revenue with tariffs on foreign products, an amount so big that the…
Politics
‘So Much Uncertainty’: Businesses Worry About Trump’s Many Tariff Plans
For Klem’s, a general store in rural Massachusetts, each year has seemed more challenging than the last. First, there was the pandemic,…
Politics
US Debt Faces Record as Trump and GOP Plan Tax Cuts
The United States is poised to add trillions of dollars to the national debt over the next decade as the mounting costs of social safety…
Business
I.M.F. Raises U.S. Economic Forecast as Other Regions Lag
The U.S. economy is on track to grow faster this year than previously expected, the International Monetary Fund said on Friday, citing…
Politics
What Did Trump’s Tax Cuts Do?
Seven years ago, when Republicans passed the most significant overhaul of the tax code in a generation, they were sure the law would…
Business
30-Year Mortgage Rate Rises Above 7% for First Time Since May
The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday,…
Politics
Trump Treasury Pick Scott Bessent to Face Grilling
Scott Bessent, President-elect Donald J. Trump’s pick for Treasury secretary, will face questions from lawmakers on Thursday about how he…
Business
CPI Rose in December, a Sign the Fed’s Inflation Fight Has Stalled
Consumer prices rose more quickly in December, the latest sign that the Federal Reserve’s fight against inflation may have stalled. The…
Business
JPMorgan Chase, Wells Fargo and Goldman Sachs Report Big Profits
A swath of the nation’s largest lenders, including JPMorgan Chase, Wells Fargo and Goldman Sachs, reported quarterly and annual financial…
Business
Inflation Sped Up in December, a Fresh Challenge for the Fed
Consumer prices rose more quickly in December, the latest sign that the Federal Reserve’s fight against inflation may have stalled. The…
Business
Stocks and Bonds Fall After Strong Jobs Report Fuels Interest Rate Concerns
Stocks and bonds tumbled on Friday, as investors’ worries over the scale of government borrowing were amplified by signs of stubborn…
Business
U.S. Employers Add 256,000 Jobs in December
Employers stuck the landing in 2024, finishing the year with a bounce of hiring after a summer slowdown and an autumn marred by…
Politics
U.S. Imposes New Sanctions to Squeeze Russia’s Energy Sector
The United States on Friday announced new sanctions targeting Russia’s energy sector and its “shadow fleet” of oil tankers in what could…