Inflation remains stubbornly high according to the latest Consumer Price Index. February numbers lined up with economists' expectations, but prices are still 6% higher than one year ago and increased slightly from January.
Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
Governments in the UK and U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. \
The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy, Chair Jerome Powell says in prepared testimony to a Senate panel.
Parts of New England have seen power costs soar so much this winter that some drivers of electric and hybrid cars report it's now more expensive to charge them than it would cost to fill their vehicles up with gasoline.
President Joe Biden and House Speaker Kevin McCarthy are wrangling over how to pay the nation's bills. In their first Oval Office meeting on Wednesday, the two spent about an hour discussing the $31 trillion debt ceiling.
Recession is imminent. That's the clear consensus among U.S. economists. Although the Federal Reserve's work to bring down inflation has led to a slight drop, prices are expected to keep climbing. There's a growing belief the Fed missed the mark, over-reacting to put the country right into a recession.
While Democrats and President Biden are working to boost the IRS by hiring 87,000 employees over the next 10 years, Republicans are moving in the opposite direction, introducing a bill that could do away with the agency entirely. The measure is called the Fair Tax Act.
Google is laying off 12,000 workers, or about 6% of its workforce, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs.
Congress can't agree on raising the debt limit, just days before the government runs out of money to pay its bills.