Columbus, OH

The Associated Press

WASHINGTON (AP) — The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business.

Americans’ refusal to keep paying higher prices may be dealing a final blow to US inflation spike

POLITICO

Fissures are forming in the economy just as the Fed’s long-running fight against inflation looks to be nearing its conclusion.

Inflation is easing. Now, Harris has an even bigger problem with the economy.

NBC News

U.S. job gains over the 12 months ending in March were revised downward Wednesday by 818,000 — a significant revision that adds to recent concerns that the economy has been slowing. The change means that roughly 2.1 million jobs were created in the U.S. in the past year, compared...

U.S. added 818,000 fewer jobs than thought, adding to concerns about the economy

Markets Insider

A recession is coming in the US by early next year, one John Hopkins economist predicts.

The economy is flashing a recession signal that's only been seen 4 times in the last century, veteran economist Steve Hanke says

The shape of the US labor market is changing, job growth is slowing and new survey data released Monday shows that Americans are starting to feel increasingly unsettled about it all.

More and more Americans are worried they will lose their job

TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

New York Post

Lowe’s cut its annual profit and sales forecasts on Tuesday, echoing bigger rival Home Depot’s concerns of a slim chance of a recovery in home improvement demand this year.

The Federal Reserve was expected to cut interest rates earlier this year, but insufficient proof of easing inflation thus far has kept the rates high, which is affecting home sales, and consequently demand for expensive renovation projects.

“We’re seeing significant implications … people aren’t moving nearly as often as they typically do because current mortgage rates are so much higher,” said CEO Marvin Ellison on a post-earnings call.



Big box retailers peddle Halloween products in...

Lowe’s follows rival Home Depot with dismal profit forecast: ‘People aren’t moving’

Kamala Harris has been holding rallies across the US as she campaigns against Donald Trump, and will appear in Milwaukee on Tuesday ahead of her headline speech at the Democratic National Convention later in the week. She has made a series of claims contrasting their records on the economy, healthcare,...

Six Kamala Harris claims fact-checked

Colorado State

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

If you find yourself worrying about a possible recession, don’t. But don’t just take my word for it. Instead, look at the most recent data. First, check out the labor market. The July employment report – published on the morning of August 2 – spooked investors because the number of new jobs the economy created last month (114,000) was significantly below estimates of 185,000.

Stop Worrying About a Recession

Fox Business

The Labor Department released payroll data that provided a look at job creation in the year through March, which is much weaker than previously believed.

US economy created 818,000 fewer jobs than previously reported

The boss of Foxtel - a majority News Corp-owned cable television company in Australia - has "unreservedly" apologised after an image surfaced of him performing a Nazi salute. Patrick Delaney said he believed he was showing "the similarity" between the gesture and one used by some fans of a Western Sydney soccer club when the photo was taken a decade ago.

News Corp boss apologises for doing Nazi salute

The Center Square

(The Center Square) – New federal economic data shows that previous data significantly overestimated the health of the U.S. economy.
                The Department of Labor released revised jobs data that showed they overestimated the number of jobs created in the U.S. economy by 818,000, a whopping revision that set off alarm bells Wednesday.
                Economic data is often revised, but the size of this change is large enough to raise eyebrows.
 ...

‘Shocking’ jobs number revision brings questions about Biden-Harris economy

FXDailyReport.com

The US dollar extended its weakness in the middle of the trading week after the Bureau of Labor Statistics (BLS) published extensive revisions to employment data, signaling that the labor market could be weaker than expected, which might resuscitate recession concerns. According to the Department of Labor, payroll job growth...

US Dollar Extends Weakness After Worst Job Revisions Since Global Financial Crisis

Fulgoni's cafe has been run by the family for nearly a century, but financial pressures have finally told.

Family cafe closes after 98 years due to high costs

Salem, OH

Northern Kentucky Tribune

Every day, 8-year-old Emma sits in a small garden outside her grandmother’s home in Salem, Ohio, writing letters to her mom and sometimes singing songs her mother used to sing to her.

Thousands of parents die of overdoses; advocates say their kids need more help

Axios

New survey data shows an elevated share of workers are looking for jobs alongside rising expectations of unemployment in the months ahead. Why it matters: Economic data suggests the job market is softening. Consumers' expectations about the health of the labor market are following suit. By the numbers: The share...

More workers expect to lose their jobs in the coming months, survey finds

It's "more important" for policymakers to consider that working-class Americans are already feeling a recession than getting too "technical," says former CKE Restaurants CEO Andy Puzder.

Ex-fast food CEO rips economists' US recession read: 'People are suffering'

960 The Ref

NEW YORK — (AP) — Walmart had another quarter of strong sales that topped almost all expectations with its comparatively low prices proving a powerful draw for millions who have struggled with rising costs for housing, groceries and almost everything else. The nation’s largest retailer also raised its...

Walmart grows more optimistic about 2024 as bargains prove a powerful lure for the inflation weary

ABC News

Inflation stands below 3% for the first time since 2021.

Harris plans to tackle inflation. Economists say the fight is nearly over.

NewsBreak

Jobs report revisions stoke politics around US economy

Jobs growth in the US appears to have been weaker than previously understood last year, the Labor Department said Wednesday, an update that enflamed an already...

Jobs report revisions stoke politics around US economy

Comments / 0