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Last snapshot of the US economy before midterms shows stronger growth but higher inflation
The US economy is growing faster than expected, but rising gas prices, stubborn inflation and shrinking household savings could put Americans—and the Federal Reserve—under greater pressure.
Inflation rose to 3.7% last month in last snapshot of consumer prices before the midterms
Inflation is heating up again, and Americans are feeling the squeeze far beyond the gas pump as rising costs for healthcare, housing, travel and everyday essentials threaten household budgets and put the Federal Reserve under pressure.
Americans’ feelings about the economy continue to worsen
Americans’ confidence in the economy has plunged to near-record lows as persistent inflation, soaring gas prices and rising borrowing costs deepen frustration over the cost of living and the nation’s economic outlook.
The US economy added just 29,000 jobs last month and the unemployment rate ticked up to 4.2%
The US labor market cooled sharply in September, adding just 29,000 jobs as unemployment rose to 4.2% and wage growth slowed amid persistent inflation and economic uncertainty.
Americans are still spending. Friday’s jobs report will show if that can last
Americans are still spending, but slowing wage growth and rising inflation are putting pressure on household finances as the September jobs report offers a closer look at the cooling labor market.
US inflation remained stubborn last month as Iran war continued to lift prices
Inflation remained elevated in August as energy costs pushed prices higher, even as revised data showed earlier inflation readings were not as steep as previously reported.
Americans still feel worse about the economy than at almost any point in modern history
A sharp drop in US consumer confidence has pushed sentiment near historic lows, with soaring gas prices, persistent inflation and economic uncertainty leaving Americans increasingly worried about their finances and the cost of living.
The US economy added 162,000 jobs in August, more than double expectations
August delivered a surprising jobs comeback with 162,000 new positions—but slowing wage growth and rising long-term unemployment show the labor market may still be on shaky ground.
Marc Stad buying controlling stake in Minnesota Timberwolves, Lynx for $4.5 billion
Tech investor Marc Stad is set to take control of the Minnesota Timberwolves and Minnesota Lynx in a $4.5 billion deal, marking another major shift in professional basketball ownership just weeks after the teams changed hands.
The Fed’s preferred inflation gauge cooled in June. It might not last
Lower gas prices briefly cooled inflation and boosted consumer spending in June, but economists warn renewed tensions with Iran and rising energy costs could quickly reverse those gains.
