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Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Americans feeling inflation’s impact on living standards, opportunities A CBS News poll reveals that inflation is significantly impacting Americans, even amid stronger jobs reports and economists’ talk of “soft landings,” people say they still pay more attention to their own experiences than to macroeconomic measures — and an overwhelming…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US economy grows 5.2% in third quarter; higher interest rates eroding momentum The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending. Jerome…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Americans expected to increase spending this holiday season According to one survey, American shoppers are expected to spend 14% more this holiday season than they did in 2022, this despite inflation and high interest rates. Roxana Saberi has more. The looming office space real estate shortage. Yes, shortage There…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US renters remain burdened as insurance pressures on landlords mount Median renter households in the US remained burdened in the third quarter, with 30% of their income going to rent. Renters are considered “burdened” if their rent payments consume 30% or more of their gross, or pre-tax, income. Government shutdown averted:…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Businesses take stock of the U.S. economy and see reason to be cautious The level of inventories, or unsold goods, that U.S. wholesalers are keeping on hand fell in September to a 13-month low amid uncertainty about whether the economy can maintain its recent momentum. The US economy may…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 5 things to know about a stunning week for the economy Here are five takeaways about today’s economy, including why forecasters are cautioning that the strong growth may not last. Biden’s new plan for student loan relief, explained On Monday, the Department of Education announced new plans to forgive billions of…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. U.S mortgage rates soar to highest in more than 23 years The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000, marking its seventh straight weekly increase and driving mortgage applications to a 28-year low, a survey showed. IRS warns…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Commerce at the forefront in improving nation’s cybersecurity Improving the nation’s cybersecurity is a priority for Secretary Raimondo and the Commerce Department. Commerce agencies are leading efforts to protect industry and government from current and future cyber threats. Efforts include promoting standards to help organizations manage and reduce cybersecurity…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. September inflation breakdown: Where are prices rising the fastest? Inflation rose more than expected in September as a spike in the cost of rent and food kept prices abnormally high for millions of U.S. households. The Labor Department said the consumer price index, a broad measure of the price…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The Great Mismatch: with millions of open positions, why does the job market feel so dire? Despite what should be encouraging data from the Labor Department, a majority of job seekers are not finding the opportunities they want. The era of confounding economic data and indicators stretches on. US…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. With a US government shutdown, what happens to the economy? The U.S. Congress passed a stopgap funding bill late on Saturday government averting shutdown. About quarter of the US GDP is government expenditure. A drop in that spending will have knock-on effect on the economy. What would stay open…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fed’s Wall of Worry: Government shutdown, UAW strike, student loan repayments and $90 oil Just when Federal Reserve Chairman Jay Powell thought he was making strides in managing inflation, he’s now facing a five-point threat to the economy at the very least. “It’s the strike, it’s the government shutdown, resumption of…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. IRS halts new ERC processing after flood of bogus claims The Internal Revenue Service said Thursday it’s putting an immediate stop to processing of new claims for the Employee Retention Credit after receiving a surge of questionable claims. The UAW’s big asks, unusual strike strategy, and what this all…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Lithium deposit found in US may be among world’s largest, study finds A deposit of lithium recently discovered along the Nevada-Oregon border may be among the world’s largest, having potentially huge implications for the transition to electric vehicles. US recession remains ‘more likely than not,’ Deutsche Bank warns The U.S. economy has…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates? One after another, economists have postponed or reversed their earlier forecasts for a U.S. recession. Optimism that the Fed will pull off a difficult “soft landing” — in which it would manage to reduce inflation to…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economy’s solid growth could require more Fed hikes to fight inflation, Powell says at Jackson Hole The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said. Powell noted that the economy has been growing faster than expected and that consumers have kept…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Mortgage rates are at a 21-year high. Here’s what that means for you. Mortgage rates hit a 21-year high this week, a milestone that makes home buying a much more expensive prospect for those who are interested in doing so. According to Freddie Mac, the rate for a 30-year fixed-rate mortgage…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. If the US economy is so good, why are small business owners so pessimistic? There are 33m small businesses in the US, with about 6m of them employer-owned. Each of these people has their own reasons for feeling less confident about the economy. According to the most recent monthly…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why did the US credit rating just get dinged? On August 1, the Fitch Ratings agency downgraded the United States’ long-term credit rating from AAA to AA+ for only the second time in the nation’s history, in what’s generally seen as a signal of concern about the US’s creditworthiness.…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why the Federal Reserve has made everything more expensive to make things less expensive A little bit of science and a little bit of art go into slowing down the behemoth that is the U.S. economy. It seems like a contradiction: How would increasing the cost of monthly credit…  Read more