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Economy
Stocks fall sharply, Dow drops more than 600 points ahead of pivotal inflation data
Stocks fell sharply on Thursday ahead of a key inflation report as investors worried about the state of the U.S. economy.The Dow Jones Industrial Average fell 638.11 points, or 1.94%, to close at 32,272.79. The S&P 500 dropped 2.38%…
Most Americans expect inflation to get worse, Post-Schar School poll finds
Placeholder while article actions loadMost Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices, according to a poll conducted by The Washington Post and George…
Social Security official: Benefits likely to rise 8% due to high inflation
An official with the Social Security Administration said seniors and others who rely on the benefits program are likely to receive a cost-of-living adjustment "closer to 8%" at the end of 2022 due to the current rate of…
Worry about stagflation, a flashback to ’70s, begins to grow
WASHINGTON (AP) — Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip…
No, you’re not imagining it — package sizes are shrinking
It’s the inflation you’re not supposed to see.From toilet paper to yogurt and coffee to corn chips, manufacturers are quietly shrinking package sizes without lowering prices. It’s dubbed “shrinkflation,” and it’s accelerating…
Cryptocurrency meltdown is wake-up call for many, including Congress
NEW YORK (AP) — Meltdowns in the cryptocurrency space are common, but the latest one really touched some nerves. Novice investors took to online forums to share tales of decimated fortunes and even suicidal despair.…
World Bank warns global economy may suffer 1970s-style stagflation
Placeholder while article actions loadThe global economy may be headed for years of weak growth and rising prices, a toxic combination that will test the stability of dozens of countries still struggling to rebound from the pandemic, the…
Russia’s failure to achieve major goals in Ukraine is ‘quite embarrassing,’ ex-U.S.
A destroyed Russian tank about 25 miles west of Kyiv. Russia failed to achieve its key tactical objectives in the first 100 days of the Ukraine war, according to a former U.S. diplomat.(Photo by Sergei Chuzavkov/SOPA Images/Sopa Images |…
Opinion | On crime and the economy, Republicans dictate the media narrative
Placeholder while article actions loadDemocrats tend to think of Republicans as messaging wizards, able to conjure controversies out of thin air and manipulate voters’ minds. While the GOP’s powers of mesmerism are drastically…
Opinion: LinkedIn chief economist: Gen Z should be feeling great about the job market
Fast forward two years, and the picture looks much brighter for Gen Z and younger millennials joining the workforce today. Despite recent headwinds like inflationary pressures and geopolitical tensions driving economic uncertainty,…