In September, the inflation rate in the United States increased to 3.7%, surpassing economists’ forecasts, according to new data from the Bureau of Labor Statistics.
Social Security benefits will be rising by 3.2% in 2024, following the 8.7% rise from the year prior.
According to experts, the year 2024 could see the worst economic collapse since the Great Depression.
The U.S. economy witnessed a hefty increase of 336,000 new jobs last month, marking the strongest job growth since January, according to the latest report by the Bureau of Labor Statistics.
An unrelenting selloff in world government bonds drove U.S. 30-year Treasury yields to 5% for the first time since 2007.
U.S. Treasury Secretary Janet Yellen says she is very confident that the economy can achieve a soft landing amidst worries of a possible recession. But Reagan economist Dr. Arthur Laffer says that she is missing the point entirely.
The Federal Reserve raised interest rates to a 22-year high on Wednesday, following a brief break in rises during the central bank’s attempts to keep unprecedented inflation under control.
The Federal Reserve resumed its aggressive rate hikes to tackle inflation, raising the interest rate by a quarter-point today.
The Federal Reserve presents its semi-annual Monetary Policy Report.
Inflation cools to 4%, that’s the lowest in 2 years, but it’s still well above the pre-pandemic average and the Fed’s target rate of 2%.