Biden shrugs off recession talk, talks up fighting inflation

Biden shrugs off recession talk, talks up fighting inflation

WASHINGTON (AP) — President Joe Biden and his administration went all out Thursday to play down a troubling new economic report that added to the evidence of a recession, trying to pull focus instead to major legislative progress on measures to tame inflation, reduce debt and preserve America’s competitive edge. The desire to accentuate the … Read more

Was Fed’s Powell dovish or not? 4 key takeaways from Wednesday’s press conference

Was Fed's Powell dovish or not? 4 key takeaways from Wednesday's press conference

Investors reacted as if Fed Chairman Jerome Powell’s press conference Wednesday was dovish, but many economists think it was on the hawkish side of the street. Here are some of the key takeaways from Powell’s hour-long discussion with reporters about the state of the economy and central bank policy: Read: Fed jacks up rates to … Read more

What the Fed’s latest interest-rate hike means for your money

What the Fed's latest interest-rate hike means for your money

The Federal Reserve is again using its most potent weapon in trying to douse the hottest inflation in 40 years: interest rate hikes. But the central bank’s move Wednesday to further raise borrowing costs means consumers and businesses are grappling with back-to-back increases of three-quarters of percentage point — a double-barrel monetary blast that could make … Read more

Federal Reserve hikes interest rates for the fourth time this year

Federal Reserve hikes interest rates for the fourth time this year

The Federal Reserve took an aggressive step on Wednesday to combat soaring inflation with the announcement of another larger than usual, three-quarters of a percentage point interest rate hike. The increase comes as central banking officials face a tough balancing act: bringing down rising prices amid growing concerns of an economic downturn. The latest increase … Read more

Biden fights talk of recession as key economic report looms

Biden fights talk of recession as key economic report looms

Facing a potentially grim report this week on the economy’s overall health, President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession. The Commerce Department on Thursday will release new gross domestic product figures. Top forecasts such as the Atlanta Federal Reserve’s GDPNow are predicting … Read more

‘Big Short’ investor Michael Burry blasts WH for calling recession ‘unlikely’

'Big Short' investor Michael Burry blasts WH for calling recession 'unlikely'

“Big Short” investor Michael Burry ripped the Biden administration on Monday after officials claimed a US recession is “unlikely” even if the economy shrinks for a second consecutive quarter. Burry accused the White House of attempting damage control ahead of the closely watched release of the second-quarter GDP report later this week. While two straight … Read more

Farmers markets vs. supermarkets: Cost differences, health benefits

Farmers markets vs. supermarkets: Cost differences, health benefits

Let’s face it: Groceries are a lot more expensive than they used to be. The cost of eating at home has increased by 12.2% since June 2021, according to the U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI). That’s part of an overall 10.4% increase to the cost of food, which also includes the … Read more