Washington: The November wholesale inflation in the United States remained steady, indicating a gradual easing of price increases in the economic pipeline, AP reported.
Washington DC: The Federal Reserve, which is the Central bank of the United States, on Wednesday, opted to keep interest rates steady at their highest level in 22 years for the second consecutive meeting, Bloomberg reported.
Washington: Consumer spending in the U.S. rose in August, although the core inflation rate, excluding food and energy, showed a decrease, falling below 4.0% compared to the previous year, Reuters reported.
Washington: Job gains in the US decreased for a second consecutive month in March, the latest government data revealed, indicating that the economy is slowing down as policymakers continue their efforts to curb inflation, AFP reported.
Elon Musk may cut jobs in his electric car company Tesla, Reuters reported, adding that in an internal mail sent to employees he conveyed his intentions arising from “super bad feeling” about the US economy.
Washington/Xinhua/UNI: Fallout from the COVID-19 pandemic will shrink the size of the U.S. economy by 7.9 trillion U.S. dollars over the next decade, according to new projections released by the Congressional Budget Office (CBO) on Monday.