Home » Economy
Gas Costing Americans $1 Billion More This Memorial Day Weekend
Rising gas prices are crimping household budgets across the country. In the past two weeks alone, gas has jumped at least 12 cents per gallon. Over the past year, the national average price of gas has increased by 31 percent, according... More of this article »
Gas Prices On The Rise Across America
Crude oil prices are at the highest level in more than three years and are expected to keep climbing, increasing the cost of gasoline across the country. According to the Oil Price Information Service, the average gas price in the... More of this article »
U.S. Economy Grows More Than Expected
The American economy grew more than expected in the first quarter of the year. According to the Commerce Department, the economy grew at an annual rate of 2.3 percent in the first three months of 2018. Wall Street analysts’ had forecast... More of this article »
Trump Administration Initiates Review Of Welfare Programs
President Donald Trump has signed an executive order calling for a reevaluation of the nation’s welfare programs. The executive order says: “The Federal Government should do everything within its authority to empower individuals... More of this article »
China Imposing Tariffs On 128 U.S. Exports
The Chinese government says it will immediately impose tariffs as high as 25 percent on 128 U.S. products. On Sunday, a Twitter post from the English-language “People’s Daily” read: “China imposes tariffs on 128 items of imports... More of this article »
New Steel and Aluminum Tariffs Coming Soon
President Trump has announced that a 25 percent tariff on imported steel and a 10 percent tariff on imported aluminum would be imposed by his administration. A tariff is a tax placed on a particular class of imported goods. The new... More of this article »
Hike In Gas Tax Under Consideration
In a closed-door meeting on infrastructure with members of both parties, President Trump tried to persuade his fellow Republicans that raising the gas tax should be an option for funding his infrastructure goals. The government needs... More of this article »
Senate Leaders Agree On Spending Deal
Reports have emerged that Senate leaders have reached a bipartisan agreement on the federal budget. Senators Mitch McConnell of Kentucky, the majority leader, and Chuck Schumer of New York, his Democratic counterpart, have apparently... More of this article »
Jerome Powell To Succeed Janet Yellen As Fed Chair
Jerome Powell has been confirmed as the 16th chairman of the Federal Reserve. The post is considered the most powerful economic position in government. Powell’s term runs for four years. Powell, 64, was nominated for the post... More of this article »
Latest Employment Figures Show Economy Going Strong
The latest snapshot of the American economy was released on Friday. The Labor Department’s official hiring and unemployment figures for November show that 228,000 jobs were added last month. The number beat the estimates of Wall... More of this article »
Economic Outlook Bright According To Fed Chair Yellen
Federal Reserve Chair Janet Yellen has sketched out a bright outlook for the U.S. economy in coming months at a seminar in Washington. Yellen said in her prepared comments that “risks to global growth have receded somewhat” and... More of this article »
Modest Increase in Consumer Prices Might Delay Rate Hike
Consumer prices in the U.S. rose in July just slightly as the cost of food increased but was offset somewhat by dropping prices of a host of other goods, but suggesting the existence of benign inflation that might persuade the U.S.... More of this article »
Prices Of Homes Rise The Highest In 33 Months
Data released on Tuesday indicates that home prices in the United States recorded the biggest annual increase since 2014. The price increase is, however, not at the level that was witnessed in the housing bubble of the mid-2000s when... More of this article »
Trump Administration Working To Prevent Chinese Takeover Of Westinghouse
President Donald Trump’s administration is leaving nothing to chance as it tries to find a buyer for the U.S. nuclear engineering firm that has slipped into bankruptcy, Westinghouse, before it falls into the hands of the Chinese.... More of this article »
The United States Private Sector Added Nearly 300,000 Jobs Last Month
The Roseland, NJ-based ADP Research Institute has just released its US employment report, and apparently there is good news to be celebrated. According to the report, businesses in the United States added roughly 298,000 jobs in the... More of this article »
Pending Home Sales Up, Slightly, in December; Will This Spark A Recovery?
In December, more Americans signed new home contracts than had been originally anticipated. Experts are saying, then, that the increase could reflect that more people are scrambling to take advantage of lower mortgage rates as they... More of this article »
Sales on Existing Homes Slip in December
Existing home sales in the United States fell, in December, by nearly 3 percent to reach an annual pace of 5.49 million. This is slightly higher than had been estimated in November and the highest level since 2006’s peak of 6.48... More of this article »
Merck, Bristol-Myers, Ono Pharmaceuticals Agree to Settle Keytruda Patent Infringement Suit
Known as MSD outside of North America, Merck & Co (NYSE:MRK) has been long celebrated as a global health care leader that now operates in more than 140 countries to deliver modern, innovative medical treatments and new health solutions. This... More of this article »
US Mortgage Activity Stable and Should Continue To Improve
New US mortgage applications may have slowed towards the end of 2016 but that does not necessarily mean the housing market is in for a slowdown. Data released from the Mortgage Bankers Association shows that borrowing costs fell from... More of this article »
Dollar Still Pushes Up Through Holiday into Year To Close Strong on the Year
Heading into the Christmas holiday, the US dollar appears to still be running pretty strong, only down about a half a percent after this month’s US Federal Reserve meeting after several months of highs. While there is a bit of... More of this article »
President-Elect Donald Trump Vows to Reform Energy Regulation
With the election already long behind us (with many still calling for a recount), attention has turned to what President-elect Donald Trump will do. Of course, the tradition is for the incumbent to release a first 100-day plan; and... More of this article »
Existing Home Sales in the US On An Upswing
Homebuying activity continues to rise, with October showing the second straight month of gains to reach a cyclical high, even in the face of rising prices and shrinking inventory. “October’s strong sales gain was widespread throughout... More of this article »
Consumer Spending Enters Holiday Season With Strong Growth
New numbers show that US consumer spending rose more than analysts expected in September. Households increased motor vehicle purchases and inflation increased consistently and, as such, analysts now have improved their expectations... More of this article »
Numbers Show new US Housing Construction Down Last Month
Groundbreaking on new homes has fallen for the second month in a row (through September) but builders are getting more permits to build. This is a sign, then, that residential construction should regain ground over the next few months,... More of this article »
Is Minnesota Facing an Affordable Care Act Crisis?
Minnesota governor Mark Dayton (D) laid it out simple—and hard—on Wednesday admitting there are “some serious blemishes right now, and serious deficiencies,” regarding the Affordable Care Act. More specifically, he comments... More of this article »