News with the tag "U.S. Economy"

November’s Employment Situation report was released by the U.S. Bureau of Labor Statistics (BLS) at 8:30 a.m. ET on Friday. The BLS announced a rise in total nonfarm payroll employment by 227,000, a stronger-than-expected figure, while the unemployment rate remained relatively stable at 4.2 percent....

On 27 November 2024, the U.S. Bureau of Economic Analysis (BEA) released its “Personal Income and Outlays” report for October, revealing steady income growth, modest consumer spending increases, and inflation that continues to exceed the Federal Reserve’s long-term target. These figures are key to u...

The U.S. share of the global economy has fallen below 15% during President Joe Biden’s term, according to Sputnik’s analysis of World Bank and International Monetary Fund (IMF) data. Once peaking at over 21% in 1999, the U.S. has seen a steady decline, with China now commanding a larger share at 18....

A pair of recent studies suggest that former President Donald Trump’s economic proposals may dramatically raise the U.S. debt and lead to higher costs for most Americans, according to a report by Andrew Duehren and Alan Rappeport for The New York Times (NYT). The Committee for a Responsible Federal ...

The U.S. economy continues to surprise analysts, as the September 2024 jobs report showed far stronger-than-expected job growth. According to a report by CNBC, nonfarm payrolls surged by 254,000, surpassing the Dow Jones forecast of 150,000, while the unemployment rate fell to 4.1%. Despite this str...

Tesla CEO Elon Musk has reiterated his concerns regarding U.S. government spending, warning that America is on a fast track to bankruptcy. Highlighting growing national debt, he reacted to a staggering $204 billion increase in just one day. Musk stressed that interest payments on federal debt now su...

At the Atlantic Festival held in Washington, D.C., on September 19-20, 2024, Jamie Dimon, Chairman and CEO of JPMorgan Chase, shared his thoughts on the current state of the economy and political climate. Dimon addressed a variety of topics, focusing on the broader economic environment, corporate re...

In the wake of the Federal Reserve’s recent decision to cut interest rates by half a percentage point, speculation has arisen among some Republicans over whether the move was politically motivated to favor Vice President Kamala Harris’s presidential campaign. Some have questioned whether the rate cu...

Federal Reserve Chair Jerome Powell, during his 18 September 2024 press conference, emphasized the Fed’s commitment to achieving its dual mandate of maximum employment and stable prices. Powell highlighted the significant progress the U.S. economy has made, particularly in reducing inflation, which ...

On Wednesday, the U.S. Federal Reserve lowered its benchmark interest rate for the first time since March 2020. The Sept. 18, 2024 rate cut amounted to 50 basis points (bps), a notably bigger adjustment than many analysts anticipated. According to the Federal Open Market Committee (FOMC) press relea...