D3sign | Moment | Getty Images Inflation cooled in August and fell to its lowest level since February 2021, which was around the time the consumer price index began to climb during the pandemic era. This broad trend in the U.S. economy — a declining but still-positive rate of inflation — is known as “disinflation.” … Read more
A view shows a bronze seal beside a door at the U.S. Treasury building in Washington, U.S., January 20, 2023. Kevin Lamarque | Reuters The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday. With the … Read more
Grace Cary | Moment | Getty Images Inflation continued to throttle back in August, signaling that the fast-rising prices that plagued the U.S. economy for the better part of three years during the pandemic era are increasingly moving into the rearview mirror. Overall inflationary pressures are “dissipating,” said Sarah House, senior economist at Wells Fargo … Read more
A cargo ship is sailing towards the docking of a foreign trade container terminal in Qingdao Port, Shandong province, in Qingdao, China, on June 7, 2024. Costfoto | Nurphoto | Getty Images Trade analysts are warning that new tariffs threatened by former President Donald Trump, which he doubled down on during Tuesday night’s presidential debate, … Read more
Patchareeporn Sakoolchai | Moment | Getty Images Social Security beneficiaries have seen higher cost-of-living adjustments in recent years, prompted by record high inflation. Yet next year’s increase may not be as generous. Based on new government inflation data, beneficiaries may see just a 2.5% increase to benefits in 2025, estimates Mary Johnson, an independent Social … Read more
The U.S. travel sector has been surprisingly resilient when it comes to travel. Domestic travel numbers have returned to pre-pandemic levels and air travel has surged even as more than a third of travelers planned to take on debt for summer trips. However, inflation-weary consumers might be taking their money elsewhere when it comes to … Read more
With the presidential election approaching, experts are sounding alarms about the upcoming expiration of the 2017 Tax Cuts and Jobs Act, or TCJA. Without action from Congress, trillions in tax breaks enacted by former President Donald Trump via the TCJA will expire after 2025. The outcome of the 2024 election will determine which political party … Read more
For months, economists have wrestled with the disconnect between how well the economy is doing and how badly people feel about their financial standing. Now, evidence suggests that the so-called vibecession, or that prolonged period of negative sentiment about the economy, appears to be ending, according to Michael Pearce, deputy chief U.S. economist at Oxford Economics. As inflation cools … Read more
Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images The U.S. Federal Reserve can afford to make a jumbo 50 basis points rate cut next week without spooking markets, an analyst has suggested, as opinion on the central bank’s forthcoming meeting remains hotly divided. Michael Yoshikami, CEO of Destination Wealth Management, said Monday that … Read more
U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Brandon Bell | Getty Images Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job … Read more
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