What is a “continuing recession” and are we there? Experts explain

By most indicators, the US economy is doing well. Although the first half of 2022 started with negative growth, a strong labor market and a resilient consumer helped turn the tide and provide hope for the year ahead. Gross domestic product, which tracks the overall health of the economy, rose more than expected in the … Read more

Key Fed measure eased, spending also fell

Consumers spent less in December even as a measure of inflation considered key by the Federal Reserve showed the pace of price increases was slowing, the Commerce Department reported on Friday. Personal consumption expenditure excluding food and energy rose 4.4% from a year ago, down from 4.7% in November and in line with the Dow … Read more

Consumer spending fell 0.2% in December as inflation fell

US households cut spending in December, adding to signs of an economic slowdown as core inflation slowed to its slowest pace since October 2021. U.S. household spending fell 0.2% in December from the previous month, the Commerce Department said on Friday, compared with a downwardly revised drop of 0.1% in November. Households reduced their spending … Read more

investors await key inflation report

Treasury yields rose on Friday as investors awaited key inflation figures and gauged the outlook for the U.S. economy after Thursday’s gross domestic product report came in better than expected. As of 4:35 a.m. ET, the benchmark return 10-year cash flow rose more than four basis points to 3.5367%. The Cash 2 years the yield … Read more

Mortgage rates drop ahead of Fed meeting next week

washington d.c. CNN — Mortgage rates fell slightly this week, remaining nearly flat ahead of the Federal Reserve’s closely watched interest rate setting meeting next week. The 30-year fixed-rate mortgage averaged 6.13% in the week ending Jan. 26, down from 6.15% the previous week, according to Freddie Mac data released Thursday. A year ago, the … Read more

US GDP rose 2.9% in the fourth quarter after a year of high inflation

The US economy entered 2023 with less momentum as growth slowed amid rising interest rates and high inflation. U.S. gross domestic product grew at a seasonally-adjusted annual rate of 2.9% in the final three months of 2022, down slightly from a 3.2% annual rate in the third quarter, it reported Thursday. the Department of Commerce. … Read more

investors await key economic data

Treasury yields were flat on Thursday as investors awaited economic data that could provide clues to how the U.S. economy is doing as headwinds continue. The benchmark 10-year Treasury note was trading at around 3.473% as of 5:47 a.m. ET. The Cash 2 years the yield last rose just under 1 basis point to 4.143%. … Read more

Americans run out of emergency savings in ‘dangerous scenario’

Suze Orman speaks during AOL’s BUILD Speaker Series at AOL Studios in New York City. jenny anderson | WireImage | Getty Images An unexpected bill is never convenient. But there are even more reasons now that an unforeseen event — like a car repair or medical bill — could put Americans in a financially unstable … Read more