Economy

The Federal Reserve on Wednesday released its decision on interest rates following its two-day meeting.

Gross domestic product was expected to rise 2.8% at an annualized pace in the fourth quarter, according to Dow Jones estimates.

With a recession possible, inflation and higher interest rates are complicating the usual return on investment equation for continuing higher education.

Gonzalo Freixes, adjunct professor of accounting at the UCLA Anderson School of Management, explains the average national costs to prepare your tax return for the upcoming tax season.

Consumers are posting rants on social media complaining about tip requests at drive-thrus, while others say they’re tired of being asked to leave a gratuity for a muffin or a simple cup of coffee at their neighborhood bakery.

Government figures say the wholesale price for goods and services dropped sharply in December, a sign that inflation may be waning.

The U.S. government reached the nation’s legal borrowing limit on Thursday, forcing the Treasury Department to resort to “extraordinary measures” to avoid a default.

The maker of Windows and Office is letting go thousands of employees on Wednesday following a slower revenue growth.

Economists say consequences of a default on the national debt could include higher interest rates, a stock market crash, a recession and massive job losses. NBC’s Alice Barr reports.

Overall inflation in 2022 peaked at its highest levels since the early 1980s. Here’s why consumers saw some items deflate.

Treasury Secretary Janet Yellen has notified Congress that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default.

President Joe Biden spoke Thursday to celebrate the easing inflation rates after the Consumer Price Index showed a dip to 6.5%.

Rising consumer prices in the United States moderated again last month, bolstering hopes that inflation’s grip on the economy will continue to ease this year and possibly require less drastic action by the Federal Reserve to control it.

A lingering bird flu outbreak, combined with soaring feed, fuel and labor costs, has led to U.S. egg prices more than doubling over the past year, and hatched a lot of sticker shock on grocery aisles.

The federal government is on track to max out on its $31.4 trillion borrowing authority as soon as this month. That starts the clock on an expected standoff between President Joe Biden and the new House Republican majority. Both political parties’ ability to navigate a divided Washington will be tested, with the fragile global economy at stake. Once the cap...

The Fed’s seventh rate hike this year will make it even costlier for consumers and businesses to borrow for homes, autos and other purchases.

This is the highest interest rate the Federal Reserve has set in 15 years.

The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago.

Nonfarm payrolls were expected to increase by 200,000 in November, according to Dow Jones estimates.