Soaring inflation drives more Americans to live paycheck to paycheck despite 5.1% increase in wages
Soaring inflation is driving more Americans to live paycheck-to-paycheck, even larger earners as increased wages can't keep up to the prices of goods at the grocery store and gas pump.
Stuart Varney: Biden's student loan handout is not going down well
FOX Business' Stuart Varney discusses Biden's expected $10,000 student loan handout, questioning where the relief is for people who already paid off their loans.
US pending home sales drop again in July, tumbling to lowest level since 2020
The National Association of Realtors said on Wednesday that its pending home sales index dropped 19.9% in July compared with last year, the lowest level since early 2020.
Larry Kudlow: US is either in recession or on the front end of a recession
FOX Business host Larry Kudlow weighs in on the state of the American economy as Americans see record-high inflation under President Biden on Tuesday's "Kudlow."
US economy headed for recession by mid-2023, majority of economists say
A majority of economists think the Federal Reserve will trigger a recession with its war on inflation, with a new survey showing 72% have forecasted a downturn next year.
Biden's using student loan forgiveness to buy votes, reward Democratic base going into midterms: Kevin Hassett
Former Council of Economic Advisors Chairman Kevin Hassett accuses the Biden administration of using student debt relief as an attempt to buy votes from its Democratic base.
As inflation hits health care, Americans are ‘taking control’ of their well-being: The Vitamin Shoppe CEO
The Vitamin Shoppe CEO Sharon Leite says sleep and mental health products are selling fast as data shows Americans delay care due to rising medical costs amid inflation.
Student loan relief would create 'perverse incentives,' enhance 'reckless' economic decisions: Sen. Cramer
Sen. Kevin Cramer cautioned that Biden's Inflation Reduction Act will likely increase inflation and that his student loan forgiveness plan will increase tuition costs.
Surging rents squeezing middle-class Americans the hardest, study shows
Rent is skyrocketing nationwide, squeezing U.S. households across the country
Steak prices decline on waning demand
The cost of steak is on the decline while ground beef prices remain elevated as consumers adjust their protein preferences to escape soaring inflation.
JPMorgan forecasts another super-sized rate hike by the Fed in September
JPMorgan Chase strategists expect the Federal Reserve to approve another mega-sized interest rate hike when they meet next month, but to slow the pace of increases after that.
Larry Summers warns student loan debt relief could worsen inflation
Former Treasury Secretary Larry Summers urged President Biden to let a student loan payment pause expire at the end of the month, warning that extending it could worsen inflation.
States with the most generous tippers despite inflation
Quick-service restaurants saw an average tip of 16.9% during the second quarter, while full-service restaurants saw an average tip of 19.7%, according to data from Toast.
Housing market records sharpest decline in sales in almost two decades: report
The sharp decline shows the lagging effect of the increased mortgage rate on the housing market, with prices still higher than the same time last year despite declining.
Inflation law tax credits to brighten platinum prices
The Inflation Reduction Act recently signed by President Biden is expected to bolster platinum prices through clean vehicle tax credits and incentives for green hydrogen.
Turkey prices expected to surge this Thanksgiving, experts warn
Commodity analysts warn sky-high turkey prices will only get worse as Thanksgiving approaches after millions of birds were destroyed due to avian flu.
Cost of raising a child jumps to over $300,000
The cost of raising a child in the U.S. has climbed above $300,000, according to the Brookings Institution, and that's before they even head to college.
US economy likely to face recession by year's end as growth continues to slow, report says
The Conference Board's leading economic index dropped for the fifth consecutive month, suggesting the U.S. economy is slowing and could be headed for a recession.
97% of corporate execs think US economy is in recession or headed for one, survey shows
A majority of corporate executives expect the U.S. economy to slide into a recession within the next year as they confront painfully high inflation and a labor shortage.
Higher-income earners visit food banks and shop at Walmart as food inflation rises
Americans who typically lived comfortably with higher incomes are flocking to Walmart, food banks, and thrift stores as high inflation continues to plague the United States.
Half of US companies preparing to cut jobs, survey shows
Companies across the country are preparing to cut jobs or are implementing hiring freezes, a new PwC survey showed, a sign the labor market is starting to soften.