Wages in the United States grew at their fastest pace for nine years last month, the latest official figures show. The US Labor Department said wages grew at an annual rate of 3.1% in October, accelerating from a rate of 2.8% the month before. The economy also added 250,000 jobs last month, beating expectations, while the jobless rate remained at 3.7%.
A hungry American economy powered by a strong U.S. dollar saw record imports in September, driving the U.S. trade deficit to its highest level in seven months, the government reported on Friday.
The US economy slowed less than expected in the third quarter as a tariff-related drop in soybean exports was partially offset by the strongest consumer spending in nearly four years, keeping it on track to hit the Trump administration’s 3% growth target this year.
United States president Donald Trump has sharpened his attacks on the Federal Reserve, saying it posed the biggest risk to the US economy. He also targeted Fed chairman Jerome Powell, telling the Wall Street Journal he seemed happy to be raising interest rates.
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.