Turkish President Recep Erdogan speaks to journalists during the final national press conference during the NATO high-level summit at the Litexpo conference center in Vilnius, Lithuania, July 12, 2023. Dominika Zarzycka | Photo only | Getty Images In January, Turkish inflation recorded its biggest monthly increase since August, rising 6.7% from December, while year-on-year inflation…
Jerome H. Powell, the chairman of the Federal Reserve, made clear in a “60 Minutes” interview broadcast Sunday evening that the central bank is moving toward cutting interest rates as inflation declines, but that policymakers need to see further progress toward lower prices increases to take the first step. Mr. Powell was interviewed on Thursday,…
A string of strong economic data appears to have finally dented consumers’ poor sentiment about the U.S. economy, easing recession fears and potentially helping President Biden in his re-election campaign. Mr. Biden has struggled to convince voters of the positive signs in the economy under his watch, including rapid job gains, low unemployment and the…
Gary, Indiana, was once a symbol of American innovation. Home to the largest U.S. Steel plant, Gary produced the product that built America’s bridges, tunnels and skyscrapers. The city reaped the rewards with a prosperous downtown and vibrant neighborhoods. Gary’s smokestacks are still clearly visible on the sandy shores of Lake Michigan, contrasted sharply between…
The world enters 2024 with optimism as global inflation eases and growth remains more robust than many forecasters had expected. But one country stands out for its surprising strength: the United States. After a sharp rise in prices rocked the world in 2021 and 2022 – fueled by pandemic-related supply chain failures and then by…
Job growth posted a surprisingly strong increase in January, once again showing that the U.S. labor market is solid and poised to support overall economic growth. Nonfarm payrolls rose by 353,000 this month, much better than the Dow Jones estimate of 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate remained…
The United States added an unexpectedly large amount of jobs last month, a boon for American workers that shows the job market remains remarkably strong after three years of expansion. Employers added a seasonally adjusted 353,000 jobs in January, the Labor Department reported Friday, and the unemployment rate remained at 3.7 percent. The report also…
Fs Productions | Tetra Images | Getty Images Black men lost ground in the labor force last month, marking a continuation of the inequalities that have permeated the U.S. labor market. According to seasonally adjusted data from the Labor Department, black men age 20 or older had an unemployment rate of 5.3% in January, up…
The sweeping tariffs imposed by former President Donald J. Trump on China and other American trading partners were simultaneously a political success and an economic failure, a new study finds. That’s because the levies won over voters to the Republican Party even though they didn’t bring back jobs. The bipartisan working paper examines monthly data…
President Biden, whose approval rating has fallen amid high inflation, is beginning to pressure major grocery chains to lower food prices for American consumers, accusing the stores of raking in excessive profits and ripping off shoppers. “There are still too many companies in America ripping people off: price gouging, junk fees, greed inflation, shrink inflation,”…
