United States voters love the performance of the economy, but it has failed to translate into higher approval for President Donald Trump, according to one new poll. The disconnect is perhaps the biggest challenge facing Republicans as they battle to keep control of Congress in November's midterm elections.
The United States economic growth was stronger than initially thought in the second quarter, notching its best performance in nearly four years and putting the economy on track to hit the Trump administration’s goal of 3% annual growth.
US President Donald Trump has warned that any attempt to impeach him would result in the crash of the economy. The President made the claim as the White House struggled to manage the fallout from a plea deal Mr Trump's longtime personal lawyer Michael Cohen made with prosecutors, and the conviction of his former campaign chairman Paul Manafort on financial charges.
General Electric is losing its place on the Dow Jones Industrial Average after more than 100 years in a move that reflects a fall in the firm's fortunes and changes to the US economy. Walgreens Boots Alliance is to take its spot on the financial index, which tracks shares of 30 companies deemed representative of the US economy. The change takes effect on 26 June.
Federal Reserve officials earlier this month suggested that another rate hike was on the way soon, while also noting several risks facing the economy, ranging from rising wage pressures to potential harm from the Trump administration's trade policies.
The 10-year U.S. Treasury yield has broken through the psychologically important level of 3%, leaving analysts contemplating what it could mean the future of asset markets and, more importantly, the global economy. The yield on the benchmark bond — which helps to set prices for debt instruments all over the world — inched past 3% on Tuesday, a level that many market players deem dangerous for investments and the economy.
With the passage of deep tax cuts late last year, annual United States budget deficits are expected to balloon over the next decade, the nonpartisan Congressional Budget Office said on Monday.
Federal Reserve Chairman Jerome Powell, pledging to strike a balance between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.
United States Federal Reserve officials grew more positive on the economic outlook, citing “substantial underlying economic momentum,” and were increasingly optimistic about achieving their inflation target, according to minutes of last month’s policy meeting.
Inflation pressures appear to be building in the U.S. economy, a prospect that is heightening anxiety about potentially higher borrowing rates that could slow economic growth. The latest source of concern was a report on Wednesday that showed a key measure of inflation rising in January by the sharpest rate in a year. The increase was led by higher prices for clothing, housing and auto insurance.