Fed Leaves Interest Rates Where They Are, Signals Delay in Cuts
The inflation rate has dropped from a historic high of 9.2% to around 3.6%, but apparently that’s now low enough for the Federal Reserve to consider cutting its prime...
Ford’s U.S. Hybrid Sales Hits All-Time Monthly Record
Customer reception to Ford hybrid vehicles continues to accelerate, with U.S. sales reaching 17,997 in April, a 60 percent improvement from the same month a year ago and a...
Job Openings Fall to Lowest Level in 3 Years, But Remain Historically High
If the increasing interest rates are supposed to slow the U.S. job market, it doesn’t appear to be working.
While U.S. job openings dropped in March to the lowest level...
Consumer Confidence Drops as Inflation Persists
Apparently, consumers in the U.S. may be getting leary of the stubbornly high inflation rate.
Consumer sentiment fell in April on dimmer views of personal finances and the economy as...
Fed: Economic Data Doesn’t ‘Meet Bar’ to Justify Cuts
At Wednesday’s Fed decision, the Federal Open Market Committee said the first quarter’s economic data didn’t reach their high bar to justify interest rate cuts. However, the Fed is...
Unemployment Claims Remain Unchanged From Last Week
It was steady as she goes in the U.S. job market last week.
The number of Americans applying for unemployment benefits didn’t change last week and is still historically low,...
Officials Confident NFL Draft Exceeded Economic Impact Estimates
After setting attendance records and increasing TV viewership, organizers are confident the NFL Draft exceeded economic expectations.
Ford’s First-Quarter Profits Down 28 Percent
Ford Motor Co. said Wednesday it made $1.3 billion in net income in the first quarter of 2024, a 28% decrease year-over-year.
That profit, the automaker said, came on $42.8...
AARP Study: Older Americans Don’t Think They’ll Be Able to Retire
A new AARP survey finds that 20% of adults ages 50+ have no retirement savings, and more than half (61%) are worried they will not have enough money to support them...
Unemployment Claims Drop to Lowest Level in 9 Weeks
The number of Americans filing for unemployment benefits has been on something of a roller-coaster lately.
This week, it was down.
Fewer Americans applied for unemployment benefits last week, according to...
Southwest Airlines Dropping Four Airports, Cuts Hiring
Southwest Airlines is cutting operations at four airports after losing $231 million in the first quarter.
The Dallas-based airline on Thursday reported lower expectations for revenue to be down as much...
Labor Department Rule Would Grant Overtime Pay to Salaried Workers
A final rule announced by the Labor Department would expand overtime pay for millions of salaried workers.
GM’s First Quarter Topped Profit Expectations
General Motors has reported a first-quarter net income of $3 billion on revenue of $43 billion.
The world’s largest automaker increased its guidance for the year of adjusted earnings to...
FTC Announces Rule Banning Noncompetes
The Federal Trade Commission wants to ban noncompete clauses for American workers, and on Tuesday passed a final rule that does just that.
Stubborn Inflation Rate Could Push Rate Cuts to Later in the Year
The hope for interest-rate cuts from the Federal Reserve early this year appear to be fading.
Fed Chair Jerome Powell is indicating that an inflation rate that stays stubbornly high...
U.S. Pledges $6.6 Billion for Taiwan Chip Manufacturer
The Biden administration has indicated on several occasions that bringing semiconductor production to the U.S. is a priority.
On Monday, the administration put its money where it’s push is.
The Biden...
Retail Sales Make Strong March Climb
Whatever anyone else’s reaction to the state of the U.S. economy might be, Americans seem to be willing to spend.
According to statistics released by the U.S. Commerce Department Monday,...
Gas Prices, Auto Sales Likely Impacted Retail Spending
Retail sales growth likely slowed in March as gasoline prices rose more slowly and new car and truck sales pulled back from February’s level.
Core retail sales excluding gasoline stations...
First-Time Unemployment Claims Remained Flat Last Week
It was déjà vu in the U.S. labor market last week.
According to statistics released by the U.S. Department of Labor Thursday, first-time claims for unemployment benefits remained flat.
The weekly...
GM Energy Rolls Out New Product Suite
DETROIT – As EV technology continues to evolve, GM is working toward elevating the overall ownership experience by introducing new ways for customers to unlock additional value and gain access...