By Vivekanand Jayakumar, The Hill Once again, U.S. consumers are sharply reorienting their spending patterns — the two-year-long pandemic-induced spending splurge on durable goods appears to be waning just as pent-up demand for services takes off. Despite inflation remaining near 40-year highs, overall consumption expenditure in the U.S. remains quite
U.S. President Joe Biden arrives for the meeting of European Union (EU) leaders in Brussels, Belgium, March 24, 2022. (Shutterstock) By Liz Peek, The Hill President Biden wants Americans to know: Curbing inflation is his top, top, top priority. He recently penned an op-ed published in the Wall Street Journal
By Tyler Pager, Danielle Douglas-Gabriel and Jeff Stein, Washington Post White House officials are currently planning to cancel $10,000 in student debt per borrower, after months of internal deliberations over how to structure loan forgiveness for tens of millions of Americans, three people with knowledge of the matter said. President
By Jeff Cox, CNBC Consumers kept spending in April, with retail sales rising about in line with Wall Street expectations despite an ongoing surge in prices. Monthly sales rose 0.9% overall, just below the Dow Jones estimate for a 1% increase, the Commerce Department reported Tuesday. Excluding autos, sales increased
By Jeff Cox, CNBC Consumers grew a little more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations over the next year fell to a median 6.3%, a 0.3 percentage-point decrease from
By Aarthi Swaminathan, Yahoo Finance President Joe Biden recently said that he’s considering some level of broad-based student loan forgiveness in the coming weeks, and one Democrat who has repeatedly pushed for cancellation says that’s major progress. “All we know is that the President has expressed an openness to to
New York – September 2, 2017: Eurosport Analyst Grand Slam Champion Boris Becker Comments Tennis Match During US Open 2017 at Billie Jean King National Tennis Center New York. (Shutterstock) By Olympics NBC Sports LONDON — Tennis great Boris Becker was sentenced to 2 1/2 years in prison on Friday for illicitly
By Jeff Cox, CNBC U.S. homebuilding unexpectedly rose in March, but starts for single-family housing tumbled amid rising mortgage rates. Housing starts increased 0.3% to a seasonally adjusted annual rate of 1.793 million units last month, the Commerce Department said on Tuesday. Data for February was revised higher to a
By Patti Domm, CNBC Consumer price inflation in March is expected to have spiked the most since December 1981, driven by higher food costs, rising rents and runaway energy prices. The consumer price index will be released Tuesday at 8:30 a.m. ET, and economists expect a monthly jump of 1.1%
By Aarthi Swaminathan, Yahoo Finance The Biden administration will enact another extension of the pandemic payment pause related to federally-backed student loans through the end of August, according to multiple reports. The extension was first reported by Politico, and a U.S. official confirmed the plans to the Associated Press. The
