The government said that gross domestic product grew at a 2.1 percent annual pace in the the three months from April through June. The first estimate had the economy growing 2.4 percent in the quarter.
Author: John Carney
Breitbart Business Digest: Declining Job Openings May Help Bring Down Inflation
Today’s JOLTS data provided reassurance to monetary policymakers that inflationary pressures from the labor market may be retreating.
Consumer Confidence Drops in August to Near Recession Level
The confidence of American households in the health of the U.S. economy unexpectedly declined in August, with optimism about the future dropping near to levels typically associated with the approach of a recession. The index of U.S. consumer confidence…
Job Openings Crater To Lowest Level Since March 2021
Job openings in the U.S. fell by much more than expected in July, suggesting that the extremely tight labor market may be loosening a bit. The Labor Department’s Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday that
Dallas Fed: Texas Manufacturing Production Falls to Lowest Level Since Worst Days of Pandemic
The Dallas Fed’s barometer of activity in the Texas manufacturing sector showed contraction for the 16th straight month.
Breitbart Business Digest: Powell’s Jackson Hole Speech Gives a Whiff of a Clash with Biden White House
There’s a clash coming between the Federal Reserve and the Biden administration.
Powell Warns: ‘We Are Prepared To Raise Rates Further’
The Fed chairman warned that rate hikes may not be over and rejected the idea of raising the central bank’s inflation target.
Breitbart Business Digest: Why Did the GOP Debate Ignore Inflation?
It’s hard to imagine how Republicans could bungle an election that may well turn on the issues of inflation, but never underestimate the “stupid party.”
Jobless Claims Show No Signs of Cooling Labor Market
New claims for unemployment benefits declined by 10,000 last week to 230,000, the lowest level in three weeks.
Breitbart Business Digest: Foot Locker Is Losing a Race Against Bidenflation
If Biden’s economic programs really were working to grow the economy “from the bottom up and the middle out,” Foot Locker would be thriving.