Economy

The Federal Reserve is cutting its interest rate by a half a point, the Committee said Wednesday.

The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates helped tame inflation but that also made borrowing painfully expensive for consumers.

The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week.

Retirees and near-retirees perhaps face the biggest risks if an economic downturn upends their financial plans. Experts say these are the questions to ask now.

One manufacturer included in the Dallas Fed’s latest survey said growth in the category typically aligns with a slowing economy.

Speaking at the Federal Reserve’s annual retreat Friday, Chair Jereme Powell said “the time has come for policy to adjust.”

Canadian National Railway, Canadian Pacific Kansas City and the Teamsters Canada Rail Conference union — which represents more than 10,000 workers — failed to come to an agreement after months of labor talks.

The Federal Reserve on Wednesday released minutes from its July 30-31 policy meeting.

Many consumers are looking for some financial stability while planning for lower borrowing costs in the future. Here are some tips.

Japan’s benchmark Nikkei 225 index has soared more than 10% a day after it set markets tumbling in Europe and on Wall Street. Other world markets were mixed but appeared to have settled after the rollercoaster start to the week.

Nearly everything on Wall Street is tumbling as fear about a slowing U.S. economy worsens and sets off another sell-off for financial markets around the world.

America’s youngest workers have not only kept, but continued building on, big wage gains seen during the pandemic.

The recent high on the 30-year fixed mortgage was 7.52% in late April, and home sales have been falling ever since.

The monthly inflation rate dipped for the first time in more than four years, providing further cover for the Fed to start lowering rates later this year.

Vietnam was ranked No. 1 in terms of personal finances for expats, according to InterNation’s Expat Insider 2024 report.

Gasoline prices are still slightly cheaper than this time a year ago, but they’ve been inching up this week. At about $3.51 as of Friday, a gallon of regular costs just a penny less than it did at the same time in 2023, according to AAA.

Five Below and Dollar General are moving back toward human cashiers, citing long-running industry concerns about lost inventory.

Although the overall unemployment rate is just 4%, there is a growing share of young adults not working — by choice or by force.

New York City, Chicago and Los Angeles were ranked in the top three cities with worst traffic in America.

U.S. couples without kids need to earn more than $60,000 annually to cover their basic needs.