The U.S. economy is on track to grow faster this year than previously expected, the International Monetary Fund said on Friday, citing strength in the labor market and an acceleration in investment. The I.M.F. projects 2.7 percent U.S. economic growth in 2025 in its latest World Economic Outlook report, up from an estimate of 2.2 […]
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The average rate on 30-year fixed-rate mortgages surpassed 7 percent for the first time since May, Freddie Mac reported on Thursday, extending a weekslong climb that could push more buyers and sellers to the sidelines. The rate on the 30-year mortgage, the most popular home loan in the United States, jumped to 7.04 percent this […]
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One-term presidents don’t usually leave big legacies on domestic policy. If anything, political parties move away from the ideas of presidents who fail to win a second term. It was true of Gerald Ford, Jimmy Carter and George H.W. Bush. It will be true of President Biden in some ways, too. Democrats have already abandoned […]
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Employers stuck the landing in 2024, finishing the year with a bounce of hiring after a summer slowdown and an autumn marred by disruption. The economy added 256,000 jobs in December, seasonally adjusted, the Labor Department reported on Friday. The number handily beat expectations after two years of cooling in the labor market, and the […]
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Stocks and bonds tumbled on Friday, as investors’ worries over the scale of government borrowing were amplified by signs of stubborn inflation, extending a sharp rise in borrowing costs for consumers and companies. Stronger-than-expected data on the labor market released on Friday has intensified concerns that the economy continues to run at a solid pace, […]
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The United States on Friday announced new sanctions targeting Russia’s energy sector and its “shadow fleet” of oil tankers in what could be a final attempt by the Biden administration to cripple the Russian economy in response to Moscow’s war in Ukraine. President Biden has been cautious in his approach to sanctions on Russia’s energy […]
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Federal Reserve officials cut interest rates as expected last month. But minutes from their December meeting suggest that the decision was a close call — and that there is no guarantee policymakers will lower rates again anytime soon. The minutes of the central bank’s Dec. 17-18 meeting, released on Wednesday, showed that most Fed officials […]
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