• S&P 500 Down 20 Percent, in Bear Market Territory
  
  The benchmark S&P 500 was down 20% from its Jan. 4 intraday record peak on Friday as investors sold stocks amid worries about whether the Federal Reserve will be able to effectively combat inflation without causing a recession.
• US Trade Rep. Sees 'Incredibly Opportunity' in Recovery
  
  With world economies all suffering from more than two years of the coronavirus pandemic and global supply problems exacerbated by Russia's invasion of Ukraine, the United States has an "incredible opportunity" to engage with other nations on a common playing field.
• Lauren Fix, The Car Coach: Why Gas Prices Are Spiking Again | EXPLAINED
  
  Prices at the gas pump are rising yet again, today's national average gas price is $4.59. As we head into the summer months, the demand jumps - and prices are going to continue to jump up as well.
• Ex-Bank of England Governor Says Central Banks Share Blame for Inflation
  
  Former Bank of England Governor Mervyn King said on Friday that central banks including the BoE are to blame for the current surge in inflation to its highest in 40 years, after doing too much quantitative easing during the pandemic.
• AAA: Record Gas Prices 'Unprecedented'
  
  Gas prices, which reached $4.593 Friday, have been on the rise for the past 11 consecutive days , an unprecedented level, according to the American Automobile Association (AAA).
• UN Reduces Global Economic Growth Forecast to 3.1%
  
  The United Nations on Wednesday significantly lowered its forecast for global economic growth this year from 4% to 3.1%, saying the war in Ukraine has triggered increasing global food and commodity prices and exacerbated inflationary pressures, upending the fragile recovery.
• Michael Busler: Inflation Pauses - But Will Get Even Hotter This Summer
  
  The Bureau of Labor Statistics released the inflation report for the month of April on its Consumer Price Index (CPI), showing it increased by 0.3%. That means the inflation rate for the prior 12 months dropped from 8.5% to 8.3%. Unfortunately, this pause is temporary.The...
• Philly Fed Survey: US Economic Outlook Weakens, Inflation to Persist
  
  The U.S. economic outlook has weakened and inflation is set to remain higher than previously expected for a while yet, a Federal Reserve Bank of Philadelphia survey of professional economic forecasters showed on Friday.
• Senate Confirms Powell for 2nd Term as Fed Fights Inflation
  
  The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell's high-stakes efforts to curb the highest inflation in four decades.
• US Producer Prices Surge 11 Percent on Higher Food Costs
  
  U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead.
• UK Economic Growth Slows, Raising Recession Concerns
  
  Britain's economy grew at the slowest pace in a year during the first quarter as retailers and manufacturers were hurt by supply disruptions and higher prices, raising concerns that the country may be headed for a recession.Gross domestic product, the broadest measure of...
• Republicans Criticize Biden Over Baby Formula Shortage
  
  A shortage in baby formula has ignited a new string of attacks from Republicans against President Joe Biden. The crisis began earlier this year after an Abbott Nutrition facility in Michigan recalled its powdered infant formula.
• US Household Strength May Prolong Fed's Inflation Fight
  
  The financial strength built up in U.S. households limited the damage from the coronavirus pandemic but may now be aggravating - and prolonging - the Federal Reserve's inflation fight as the central bank waits for people to run out of spending power.
• Inflation Eases to 8.3 Percent
  
  Inflation slowed in April after seven months of relentless gains, a tentative sign that price increases may be peaking while still imposing a financial strain on American households. Consumer prices jumped 8.3% last month from 12 months earlier.
• Sen. Rick Scott to Newsmax: Biden Has Problem of Inflation, and 'No Plan'
  
  After Sen. Rick Scott, R-Fla., blasted President Joe Biden as "incoherent, incapacitated, and confused" on inflation, the president shot back saying at a news conference Tuesday, "I think the man has a problem.
• Senate Confirms Lisa Cook as First Black Woman on Federal Reserve Board
  
  The Senate on Tuesday voted to confirm Michigan State University economics professor Lisa Cook to the Federal Reserve Board, a process that required the tiebreaking vote of Vice President Kamala Harris.
• Sen. Braun to Newsmax: WH Wants to Dig Inflation, Gas Prices Hole Deeper
  
  Sen. Mike Braun, R-Ind., told Newsmax on Tuesday that the administration's policies since President Joe Biden was inaugurated have contributed to high inflation and high gasoline prices.
• Rising US Inflation Is Main Economic, Political Challenge for Biden
  
  With surging prices undermining wage gains and hurting American families, U.S. President Joe Biden said Tuesday fighting inflation is his top priority - but he may have limited tools to tackle the issue.
• Biden to Blast Republicans as Having No Plan on Inflation
  
  U.S. President Joe Biden will use a speech on inflation on Tuesday as an opportunity to turn his Democratic Party's top political liability ahead of the midterm elections into an argument against Republicans. As Americans worry about a spike in inflation that has pushed...
• Fed: Inflation, Ukraine Biggest Threats to Financial System
  
  The Federal Reserve said Monday that Russia's war in Ukraine and surging inflation are now the greatest threats facing the global economy, supplanting the coronavirus pandemic.
• Peter Reagan: The Fed's 'Soft Landing' Is Actually a Crash
  
  The Fed's finally taking inflation seriously, and the biggest rate hike in 20 years sent markets reeling. Here's why we we're seeing so much market carnage from a modest, 50-basis-point rate.
• US Labor Market Has Yet to Get Powell's Memo
  
  Federal Reserve Chair Jerome Powell this week laid out a hoped-for evolution of the U.S. job market that included a rising labor participation rate that would pave the way for continued job growth while tapping the brakes on the pace of wage increases.
• Michael Busler: Fed Action, Once Again, Way Too Little & Way Too Late
  
  At its May 4 meeting, the Fed decided to raise the Federal Funds rate by half a percentage point, or 50 basis points (BPS). That's the largest single rate hike in 22 years.
• Fed Raises Key Rate by a Half Point in Bid to Tame Inflation
  
  The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark short-term interest rate by a half-percentage point Wednesday.
• Robust Imports Push US Trade Deficit to Record High
  
  The U.S. trade deficit surged to a record high in March, confirming that trade weighed on the economy in the first quarter and could remain a drag for a while as businesses replenish inventories with imported goods.

More Economy Stories