Today, the Commerce Department released a snapshot of its growth report for the first quarter. The country’s gross domestic product (GDP) grew by just 1.6 percent, its slowest pace in nearly two years. Further, inflation rates have also risen dramatically. Many economists are describing this as “the worst of both worlds.” Economists polled by Reuters […]
What happens when there's slow economic growth and high inflation? Economists call that "stagflation," and given the slowing growth in the first quarter of 2024 and the higher inflation in February and March, we may be reliving that ghastly economic phenomenon.
The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services […]
The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers kept spending at a solid pace.
Economic growth increased at a slower pace than economists had predicted in the first quarter, while President Biden continued to deliver a positive message about the economy. NBC News' Peter Alexander reports.
Literally the day after President Biden bragged, "We're following my blue collar blueprint to rebuild America, and guess what? It's working!", Bidenomics struck with a vengeance Thursday.
U.S. economic growth in the first quarter fell below the Federal Reserve's estimates of the economy's long-run potential for the first time in nearly two years, but the signs of slowing were accompanied with fast inflation that, if sustained, would pose a particular dilemma for the central bank.
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer
Federal Reserve Chair Jerome Powell signaled policymakers will wait longer than previously anticipated to cut interest rates following a series of surprisingly high inflation readings.
Sustained high levels of energy and commodity prices could drive global inflation upwards, the World Bank has warned today.