Latest Economy News

Powell stresses message that US job market is cooling, a possible signal of coming rate cut

Jul. 10, 2024 12:48 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday reinforced a message that the Fed is paying growing attention to a slowing job market and not only to taming inflation, a shift that signals it's likely to begin cutting interest rates soon. “We’re not just an...

Kenya's president warns of huge consequences after his effort to address an $80 billion debt fails

Jul. 10, 2024 00:14 AM EDT

NAIROBI, Kenya (AP) — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.” ...

Stock market today: Wall Street's scorching rally sets more records as hopes rise for rate cuts

Jul. 05, 2024 16:25 PM EDT

NEW YORK (AP) — U.S. stocks rose to more records Friday after a highly anticipated report on the job market bolstered Wall Street’s hopes that interest rates may soon get easier. The S&P 500 climbed 0.5% to set an all-time high for a third straight day following Thursday’s...

US employers added a solid 206,000 jobs in June in a sign of continued economic strength

Jul. 05, 2024 10:41 AM EDT

WASHINGTON (AP) — America’s employers delivered another healthy month of hiring in June, adding 206,000 jobs and once again displaying the U.S. economy’s ability to withstand high interest rates. Last month’s job growth did mark a pullback from 218,000 in May. But it was...

Japan issues new yen banknotes packed with 3D hologram technology to fight counterfeiting

Jul. 03, 2024 21:44 PM EDT

TOKYO (AP) — Japan issued its first new banknotes in two decades Wednesday, yen packed with 3D hologram technology to fight counterfeiting. Prime Minister Fumio Kishida praised as historic the state-of-the-art anti-counterfeit traits of the new 10,000 yen, 5,000 yen and 1,000 yen...

US job openings rise to 8.1 million despite higher interest rates

Jul. 02, 2024 12:27 PM EDT

WASHINGTON (AP) — U.S. job openings rose slightly to 8.1 million in May despite the impact of higher interest rates intended to cool the labor market. Vacancies rose from a revised 7.9 million in April, the first reading below 8 million since February 2021, the Labor Department...

Japan revises economic growth in 1Q downward, as latest data show sluggish demand and rising prices

Jul. 01, 2024 02:36 AM EDT

BANGKOK (AP) — Japan revised its earlier estimates to show that its economy contracted at a 2.9% annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed conditions remain sluggish. Analysts had expected the downward revision...

Economic turmoil in Bolivia fuels distrust in government and its claim of a 'failed coup'

Jul. 01, 2024 01:16 AM EDT

LA PAZ, Bolivia (AP) — Signs reading “I'm buying dollars” line the doors of Víctor Vargas’ shoe shop in the heart of Bolivia’s biggest city, a desperate attempt to keep his family business alive. Just a few years ago, the 45-year-old Vargas would unlock the doors at 8 a.m....

Federal Reserve's preferred inflation gauge shows price pressures easing further

Jun. 28, 2024 12:55 PM EDT

WASHINGTON (AP) — A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease. Friday's Commerce Department report showed that consumer prices were flat from April to May, the mildest such...

Trump and Biden tangle over the economy in their opening exchange, trading barbs over inflation, jobs and tax policy

Jun. 27, 2024 21:20 PM EDT
ATLANTA (AP) — Trump and Biden tangle over the economy in their opening exchange, trading barbs over inflation, jobs and tax policy.