Economy

In an aerial view, shipping containers sit idle at the Port of Oakland on July 21, 2022 in Oakland, California. Truckers protesting California labor law Assembly Bill 5 (AB5) have shut down operations at the Port of Oakland after blocking entrances to container terminals at the port for the past four days. An estimated 70,000

[The stream is slated to start at 1:30 p.m. ET. Please refresh the page if you do not see a player above at that time.] Treasury Secretary Janet Yellen speaks Thursday at a news conference on the state of the U.S. economy. Yellen’s comments follow news that the U.S. economy contracted for the second consecutive

In this article QSR-CA YUM PPC NDLS WING Spicy chicken wings. Gado | Archive Photos | Getty Images Three months ago, Wingstop put a shocker in its earnings release: It was seeing DEFLATION in bone-in chicken wing costs. The chicken chain reiterated the trend with its latest results Thursday morning and its stock rallied 20%

Growth in the euro zone economy accelerated in the second quarter of the year, but the region’s prospects get hit as Russia continues to reduce gas supplies. The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe’s statistics office, beating expectations of 0.2% growth. It comes

An inflation gauge that the Federal Reserve uses as its primary barometer jumped to its highest 12-month gain in more than 40 years in June, the Bureau of Economic Analysis reported Friday. The personal consumption expenditures price index rose 6.8%, the biggest 12-month move since the 6.9% increase in January 1982. The index rose 1%

Treasury Secretary Janet Yellen said Thursday the U.S. economy is in a state of transition, not recession, despite two consecutive quarters of negative growth. Recession, Yellen insisted, is a “broad-based weakening of our economy” that includes substantial layoffs, business closures, strains in household finances and a slowdown in private sector activity. “That is not what

The U.S. economy contracted for the second straight quarter from April to June, hitting a widely accepted rule of thumb for a recession, the Bureau of Economic Analysis reported Thursday. Gross domestic product fell 0.9% at an annualized pace for the period, according to the advance estimate. That follows a 1.6% decline in the first

Everyone who cares knows that recessions happen when there are two consecutive quarters of negative growth — everyone, that is, except for the people who actually decide when the economy is in recession. For those folks, at the National Bureau of Economic Research, the definition of recession is much squishier. Officially, the NBER defines recession

Foreman Angel Gonzalez and Anthony Harris, with E-Z Bel Construction, work on pipes along Fredericksburg Road during an excessive heat warning in San Antonio, Texas, July 19, 2022. Lisa Krantz | Reuters The White House is sure the economy is not in a recession nor headed for one. Wall Street is pretty sure there is

The queue of vessels waiting to unload goods at the Port of Los Angeles, North America’s busiest container port, has fallen 80% since the start of the year as global container prices continue to slide, pointing to more easing in supply chain disruptions.  The backlog of vessels waiting outside Los Angeles has fallen from a

In this article GS NEW YORK, NEW YORK – MAY 02: Elon Musk attends the 2022 Costume Institute Benefit celebrating In America: An Anthology of Fashion at Metropolitan Museum of Art on May 02, 2022 in New York City. (Photo by Sean Zanni/Patrick McMullan via Getty Images) Sean Zanni | Patrick Mcmullan | Getty Images

A woman walks in front of a store on February 22, 2021, in New York City. John Smith | Corbis News | Getty Images Initial jobless claims hit their highest level since mid-November last week, the latest sign that a historically tight labor market is beginning to slow, according to Labor Department data released Thursday.

U.S. Treasury Secretary Janet Yellen (pictured here at a news conference, ahead of the G-20 meeting in Bali on July 14), said supply chain resilience is a key focus of the Biden-Harris administration. Made Nagi | Reuters U.S. Treasury Secretary Janet Yellen has reiterated the need for the United States and its trusted trading partners

Job growth accelerated at a much faster pace than expected in June, indicating that the main pillar of the U.S. economy remains strong despite pockets of weakness. Nonfarm payrolls increased 372,000 in the month, better than the 250,000 Dow Jones estimate and continuing what has been a strong year for job growth, according to data

The U.S. Treasury building in Washington, D.C. Bloomberg | Bloomberg | Getty Images China’s holdings of U.S. debt have fallen below $1 trillion for the first time in 12 years amid rising interest rates that have made Treasurys potentially less attractive. Continuing a trend that began early in 2021, China’s portfolio of U.S. government debt

Commuters travel on the L train system in the Loop on July 27, 2021 in Chicago, Illinois. Scott Olson | Getty Images The U.S. unemployment rate fell for Black women last month even as the overall metric held steady across the board, but labor force participation also slipped for the group. Headline unemployment hovered at

A worker wearing a protective mask slices beef in the butcher section of a Stew Leonard’s supermarket in Paramus, New Jersey, on Tuesday, May 12, 2020. Angus Mordant | Bloomberg | Getty Images June’s big payroll jump helped clear away some of those recession clouds for a U.S. economy that nonetheless faces some stormy weather

Rising gas prices are piling pressure on the U.S. economy. Bloomberg | Getty Images The odds of the U.S. economy falling into recession by next year are greater than 50%, Richard Kelly, head of global strategy at TD Securities, said Monday, outlining three possible ways it could get hit. Rising gas prices combined with a